AdvisorNet Financial Inc raised its stake in shares of Coherent, Inc. (NASDAQ:COHR) by 774.8% in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 8,363 shares of the scientific and technical instruments company’s stock after buying an additional 7,407 shares during the period. AdvisorNet Financial Inc’s holdings in Coherent were worth $1,567,000 as of its most recent SEC filing.
Other large investors also recently modified their holdings of the company. Advisors Preferred LLC acquired a new stake in shares of Coherent in the 1st quarter valued at $113,000. First Republic Investment Management Inc. acquired a new stake in shares of Coherent in the 4th quarter valued at $208,000. Commerce Bank acquired a new stake in shares of Coherent in the 4th quarter valued at $226,000. CIBC Asset Management Inc acquired a new stake in shares of Coherent in the 4th quarter valued at $236,000. Finally, Moors & Cabot Inc. acquired a new stake in shares of Coherent in the 4th quarter valued at $236,000. 99.75% of the stock is owned by institutional investors.
Several research firms recently issued reports on COHR. Needham & Company LLC reaffirmed a “buy” rating and issued a $294.00 price objective (down previously from $330.00) on shares of Coherent in a research note on Thursday, February 8th. Stifel Nicolaus began coverage on shares of Coherent in a research note on Thursday, May 10th. They issued a “buy” rating and a $248.00 price objective for the company. BidaskClub raised shares of Coherent from a “sell” rating to a “hold” rating in a research note on Friday, May 11th. Zacks Investment Research raised shares of Coherent from a “sell” rating to a “hold” rating in a research note on Monday, April 16th. Finally, Northcoast Research reaffirmed a “buy” rating and issued a $314.00 price objective on shares of Coherent in a research note on Monday, February 12th. Two equities research analysts have rated the stock with a sell rating, one has issued a hold rating and nine have given a buy rating to the company’s stock. Coherent presently has a consensus rating of “Buy” and an average price target of $284.67.
Coherent (NASDAQ:COHR) last announced its earnings results on Tuesday, May 1st. The scientific and technical instruments company reported $3.37 EPS for the quarter, missing the consensus estimate of $3.49 by ($0.12). The firm had revenue of $481.10 million during the quarter, compared to the consensus estimate of $481.82 million. Coherent had a return on equity of 29.28% and a net margin of 12.65%. The business’s revenue was up 13.8% compared to the same quarter last year. During the same quarter last year, the business earned $2.91 EPS. research analysts expect that Coherent, Inc. will post 13.88 EPS for the current fiscal year.
Coherent declared that its Board of Directors has approved a stock repurchase program on Wednesday, February 7th that permits the company to repurchase $100.00 million in outstanding shares. This repurchase authorization permits the scientific and technical instruments company to buy shares of its stock through open market purchases. Stock repurchase programs are often a sign that the company’s board of directors believes its stock is undervalued.
Coherent, Inc provides lasers and laser-based technology in a range of scientific, commercial, and industrial applications worldwide. It operates through two segments, Specialty Lasers and Systems, and Commercial Lasers and Components. The company designs, manufactures, services, and markets lasers, laser tools, precision optics, and related accessories.
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