Westport Asset Management Inc. Acquires New Holdings in Coherent, Inc. (COHR)

Westport Asset Management Inc. acquired a new stake in Coherent, Inc. (NASDAQ:COHR) in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor acquired 2,500 shares of the scientific and technical instruments company’s stock, valued at approximately $588,000.

Other hedge funds have also recently bought and sold shares of the company. California Public Employees Retirement System raised its stake in shares of Coherent by 5.1% during the third quarter. California Public Employees Retirement System now owns 51,821 shares of the scientific and technical instruments company’s stock worth $12,187,000 after purchasing an additional 2,521 shares during the last quarter. Bamco Inc. NY raised its position in Coherent by 167.2% in the third quarter. Bamco Inc. NY now owns 16,300 shares of the scientific and technical instruments company’s stock worth $3,833,000 after acquiring an additional 10,200 shares in the last quarter. Ladenburg Thalmann Financial Services Inc. raised its position in Coherent by 12.8% in the third quarter. Ladenburg Thalmann Financial Services Inc. now owns 2,980 shares of the scientific and technical instruments company’s stock worth $701,000 after acquiring an additional 337 shares in the last quarter. Affinity Wealth Management raised its position in Coherent by 39.5% in the third quarter. Affinity Wealth Management now owns 2,505 shares of the scientific and technical instruments company’s stock worth $589,000 after acquiring an additional 709 shares in the last quarter. Finally, Earnest Partners LLC raised its position in Coherent by 1.0% in the third quarter. Earnest Partners LLC now owns 636,910 shares of the scientific and technical instruments company’s stock worth $149,782,000 after acquiring an additional 6,066 shares in the last quarter. 97.06% of the stock is owned by institutional investors and hedge funds.

Coherent, Inc. (NASDAQ:COHR) opened at $290.81 on Tuesday. The firm has a market capitalization of $7,270.75, a PE ratio of 24.64 and a beta of 0.81. Coherent, Inc. has a 52 week low of $129.62 and a 52 week high of $320.73. The company has a quick ratio of 2.14, a current ratio of 3.13 and a debt-to-equity ratio of 0.51.

Coherent (NASDAQ:COHR) last released its quarterly earnings data on Tuesday, November 7th. The scientific and technical instruments company reported $3.72 earnings per share for the quarter, beating the consensus estimate of $3.48 by $0.24. The business had revenue of $490.00 million for the quarter, compared to analyst estimates of $475.24 million. Coherent had a return on equity of 28.53% and a net margin of 12.02%. The company’s revenue was up 97.2% compared to the same quarter last year. During the same period in the previous year, the company posted $1.65 EPS. sell-side analysts anticipate that Coherent, Inc. will post 15.56 earnings per share for the current fiscal year.

In related news, Director Stephen A. Skaggs sold 500 shares of the firm’s stock in a transaction dated Monday, November 13th. The stock was sold at an average price of $308.97, for a total transaction of $154,485.00. Following the sale, the director now directly owns 11,000 shares in the company, valued at approximately $3,398,670. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Sandeep Vij sold 4,400 shares of the firm’s stock in a transaction dated Friday, November 10th. The shares were sold at an average price of $292.79, for a total value of $1,288,276.00. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 18,416 shares of company stock worth $5,490,028. Company insiders own 1.40% of the company’s stock.

COHR has been the subject of several research analyst reports. Stifel Nicolaus reiterated a “buy” rating and issued a $290.00 price objective on shares of Coherent in a research report on Wednesday, September 13th. Zacks Investment Research upgraded Coherent from a “hold” rating to a “strong-buy” rating and set a $270.00 price objective for the company in a research report on Tuesday, October 3rd. ValuEngine cut Coherent from a “buy” rating to a “hold” rating in a research report on Friday, September 1st. Benchmark restated a “buy” rating and issued a $290.00 price target on shares of Coherent in a research report on Thursday, October 12th. Finally, Needham & Company LLC raised their price target on Coherent from $270.00 to $330.00 and gave the company a “buy” rating in a research report on Wednesday, November 8th. One analyst has rated the stock with a hold rating, ten have given a buy rating and one has given a strong buy rating to the company. The company currently has an average rating of “Buy” and an average target price of $309.89.

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About Coherent

Coherent, Inc is a photonics manufacturer. The Company is engaged in designing, manufacturing, servicing and marketing of lasers and related accessories for a range of scientific, commercial and industrial applications. It operates through two segments: Specialty Lasers and Systems (SLS) and Commercial Lasers and Components (CLC).

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Institutional Ownership by Quarter for Coherent (NASDAQ:COHR)

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