4.7% Stake of Coherent, Inc. (COHR) Held by Eagle Asset Management Inc

Eagle Asset Management Inc

stated that they own a 4.7% stake in Coherent, Inc. (NASDAQ:COHR) in a Form 13G/A disclosure that was filed with the SEC on Monday, January 8th. The investor owns 1,166,886 shares of the stock worth approximately $345,106,535. The disclosure is available through EDGAR at this link.

Other large investors have also added to or reduced their stakes in the company. Legal & General Group Plc boosted its stake in Coherent by 21.2% during the second quarter. Legal & General Group Plc now owns 19,264 shares of the scientific and technical instruments company’s stock valued at $4,334,000 after buying an additional 3,364 shares in the last quarter. Robeco Institutional Asset Management B.V. bought a new position in Coherent during the second quarter valued at about $406,000. Zurcher Kantonalbank Zurich Cantonalbank boosted its position in shares of Coherent by 10.7% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,206 shares of the scientific and technical instruments company’s stock valued at $271,000 after purchasing an additional 117 shares during the period. Pacad Investment Ltd. acquired a new position in shares of Coherent in the 2nd quarter valued at $292,000. Finally, Swiss National Bank boosted its position in shares of Coherent by 0.7% in the 2nd quarter. Swiss National Bank now owns 40,988 shares of the scientific and technical instruments company’s stock valued at $9,222,000 after purchasing an additional 300 shares during the period. 96.90% of the stock is owned by institutional investors.

COHR has been the subject of a number of recent analyst reports. Stifel Nicolaus increased their price target on Coherent from $290.00 to $330.00 and gave the company a “buy” rating in a research report on Wednesday, November 8th. Benchmark increased their price target on Coherent from $290.00 to $310.00 and gave the company a “buy” rating in a research report on Wednesday, November 8th. Needham & Company LLC increased 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. Summit Redstone reiterated a “buy” rating and issued a $320.00 price target on shares of Coherent in a research report on Saturday, September 23rd. Finally, Northcoast Research reiterated a “buy” rating and issued a $314.00 price target (up previously from $311.00) on shares of Coherent in a research report on Tuesday, September 12th. One equities research analyst has rated the stock with a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the company’s stock. Coherent has a consensus rating of “Buy” and a consensus target price of $309.89.

Coherent, Inc. (NASDAQ COHR) traded up $7.02 on Monday, hitting $295.75. The stock had a trading volume of 408,100 shares, compared to its average volume of 330,825. Coherent, Inc. has a 52 week low of $136.52 and a 52 week high of $320.73. The company has a debt-to-equity ratio of 0.51, a current ratio of 3.13 and a quick ratio of 2.14. The stock has a market cap of $7,340.00, a P/E ratio of 35.17 and a beta of 0.82.

Coherent (NASDAQ:COHR) last posted its quarterly earnings results on Tuesday, November 7th. The scientific and technical instruments company reported $3.72 earnings per share for the quarter, topping the Zacks’ consensus estimate of $3.48 by $0.24. Coherent had a return on equity of 28.53% and a net margin of 12.02%. The company had revenue of $490.00 million during the quarter, compared to the consensus estimate of $475.24 million. During the same period last year, the business earned $1.65 EPS. The business’s quarterly revenue was up 97.2% on a year-over-year basis. equities analysts forecast that Coherent, Inc. will post 15.56 earnings per share for the current year.

In other Coherent news, EVP Paul F. Sechrist sold 1,372 shares of the firm’s stock in a transaction that occurred on Thursday, January 4th. The stock was sold at an average price of $300.00, for a total value of $411,600.00. Following the sale, the executive vice president now owns 2,497 shares of the company’s stock, valued at approximately $749,100. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Sandeep Vij sold 4,400 shares of the firm’s stock in a transaction that occurred on 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. In the last three months, insiders have sold 19,788 shares of company stock worth $5,901,628. 1.40% of the stock is currently owned by insiders.

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Coherent Profile

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).

Institutional Ownership by Quarter for Coherent (NASDAQ:COHR)

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