Victory Capital Management Inc. lifted its position in Coherent, Inc. (NASDAQ:COHR) by 4.1% during the third quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 1,584,495 shares of the scientific and technical instruments company’s stock after buying an additional 61,988 shares during the period. Victory Capital Management Inc. owned approximately 6.53% of Coherent worth $175,768,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds have also recently bought and sold shares of the company. Twin Tree Management LP grew its holdings in shares of Coherent by 767.4% in the 2nd quarter. Twin Tree Management LP now owns 373 shares of the scientific and technical instruments company’s stock worth $49,000 after acquiring an additional 330 shares during the last quarter. Captrust Financial Advisors acquired a new position in shares of Coherent in the 2nd quarter worth $53,000. Cerebellum GP LLC acquired a new position in shares of Coherent in the 3rd quarter worth $65,000. Steward Partners Investment Advisory LLC grew its holdings in shares of Coherent by 462.3% during the third quarter. Steward Partners Investment Advisory LLC now owns 596 shares of the scientific and technical instruments company’s stock valued at $66,000 after buying an additional 490 shares in the last quarter. Finally, Fifth Third Bancorp grew its holdings in shares of Coherent by 19.8% during the second quarter. Fifth Third Bancorp now owns 750 shares of the scientific and technical instruments company’s stock valued at $98,000 after buying an additional 124 shares in the last quarter. 96.04% of the stock is currently owned by institutional investors.
A number of research analysts have recently weighed in on COHR shares. Zacks Investment Research downgraded Coherent from a “hold” rating to a “strong sell” rating in a report on Monday. Stifel Nicolaus downgraded Coherent from a “buy” rating to a “hold” rating in a report on Wednesday, November 11th. ValuEngine upgraded Coherent from a “hold” rating to a “buy” rating in a report on Thursday, November 5th. Benchmark lowered their price target on Coherent from $168.00 to $160.00 and set a “buy” rating on the stock in a report on Wednesday, August 5th. Finally, BidaskClub upgraded Coherent from a “hold” rating to a “buy” rating in a report on Tuesday, November 10th. One research analyst has rated the stock with a sell rating, five have given a hold rating and seven have given a buy rating to the company. Coherent presently has a consensus rating of “Hold” and an average target price of $166.50.
Shares of NASDAQ:COHR traded down $1.70 on Tuesday, reaching $116.87. The company had a trading volume of 1,799 shares, compared to its average volume of 206,469. Coherent, Inc. has a twelve month low of $78.21 and a twelve month high of $178.08. The stock has a 50-day moving average price of $120.62 and a 200 day moving average price of $127.03. The stock has a market capitalization of $2.88 billion, a P/E ratio of -6.90 and a beta of 1.67. The company has a quick ratio of 2.69, a current ratio of 4.52 and a debt-to-equity ratio of 0.44.
Coherent (NASDAQ:COHR) last announced its quarterly earnings results on Tuesday, November 10th. The scientific and technical instruments company reported $1.01 earnings per share for the quarter, topping analysts’ consensus estimates of $0.80 by $0.21. Coherent had a positive return on equity of 3.41% and a negative net margin of 33.70%. The company had revenue of $316.75 million during the quarter, compared to analysts’ expectations of $310.04 million. During the same quarter in the previous year, the firm earned $0.89 earnings per share. The business’s quarterly revenue was down 5.6% compared to the same quarter last year. On average, sell-side analysts predict that Coherent, Inc. will post 3.27 earnings per share for the current fiscal year.
Coherent, Inc provides lasers, laser-based technologies, and laser-based system solutions for a range of scientific, commercial, and industrial applications. It operates in two segments, OEM Laser Sources and Industrial Lasers & Systems. The company designs, manufactures, markets, and services lasers, laser tools, precision optics, and related accessories; and laser measurement and control products.
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