Coherent, Inc. (COHR) Holdings Lifted by Jane Street Group LLC

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Jane Street Group LLC raised its holdings in shares of Coherent, Inc. (NASDAQ:COHR) by 4,191.8% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 3,648 shares of the scientific and technical instruments company’s stock after purchasing an additional 3,563 shares during the period. Jane Street Group LLC’s holdings in Coherent were worth $571,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the business. Oregon Public Employees Retirement Fund raised its position in Coherent by 3.0% during the 2nd quarter. Oregon Public Employees Retirement Fund now owns 9,718 shares of the scientific and technical instruments company’s stock valued at $1,520,000 after purchasing an additional 279 shares during the last quarter. Amalgamated Bank raised its position in Coherent by 6.6% during the 1st quarter. Amalgamated Bank now owns 5,482 shares of the scientific and technical instruments company’s stock valued at $1,027,000 after purchasing an additional 341 shares during the last quarter. Victory Capital Management Inc. raised its position in Coherent by 6.1% during the 2nd quarter. Victory Capital Management Inc. now owns 6,316 shares of the scientific and technical instruments company’s stock valued at $988,000 after purchasing an additional 365 shares during the last quarter. Arizona State Retirement System raised its position in Coherent by 2.6% during the 2nd quarter. Arizona State Retirement System now owns 17,269 shares of the scientific and technical instruments company’s stock valued at $2,701,000 after purchasing an additional 441 shares during the last quarter. Finally, Toronto Dominion Bank raised its position in Coherent by 326.7% during the 2nd quarter. Toronto Dominion Bank now owns 640 shares of the scientific and technical instruments company’s stock valued at $100,000 after purchasing an additional 490 shares during the last quarter. 98.58% of the stock is owned by institutional investors and hedge funds.

Shares of NASDAQ:COHR opened at $132.57 on Friday. Coherent, Inc. has a 52-week low of $130.57 and a 52-week high of $329.00. The company has a market capitalization of $4.18 billion, a PE ratio of 10.55 and a beta of 1.04. The company has a debt-to-equity ratio of 0.34, a current ratio of 3.28 and a quick ratio of 1.87.

Coherent (NASDAQ:COHR) last announced its earnings results on Tuesday, July 31st. The scientific and technical instruments company reported $3.51 earnings per share (EPS) for the quarter, missing the consensus estimate of $3.54 by ($0.03). Coherent had a return on equity of 28.01% and a net margin of 12.84%. The firm had revenue of $482.00 million during the quarter, compared to the consensus estimate of $491.31 million. During the same period in the prior year, the company posted $3.36 EPS. The firm’s revenue was up 3.9% on a year-over-year basis. Equities research analysts forecast that Coherent, Inc. will post 13.14 EPS for the current year.

A number of research firms have commented on COHR. ValuEngine lowered Coherent from a “hold” rating to a “sell” rating in a research report on Tuesday. Zacks Investment Research lowered Coherent from a “hold” rating to a “sell” rating in a research report on Wednesday. Stifel Nicolaus decreased their target price on Coherent from $218.00 to $214.00 and set a “buy” rating for the company in a research report on Friday, July 27th. Northcoast Research reissued a “buy” rating and issued a $217.00 target price on shares of Coherent in a research report on Thursday, August 2nd. Finally, Longbow Research lowered Coherent from a “buy” rating to a “neutral” rating in a research report on Tuesday. Three analysts have rated the stock with a sell rating, two have given a hold rating and four have assigned a buy rating to the company. Coherent presently has a consensus rating of “Hold” and an average price target of $229.57.

In other news, EVP Mark Stewart Sobey sold 13,000 shares of the stock in a transaction that occurred on Tuesday, August 14th. The stock was sold at an average price of $181.86, for a total value of $2,364,180.00. Following the completion of the transaction, the executive vice president now owns 17,887 shares of the company’s stock, valued at approximately $3,252,929.82. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.97% of the stock is currently owned by corporate insiders.

About Coherent

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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Institutional Ownership by Quarter for Coherent (NASDAQ:COHR)

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