World Asset Management Inc Acquires 261 Shares of Coherent, Inc. (NASDAQ:COHR)
World Asset Management Inc raised its position in shares of Coherent, Inc. (NASDAQ:COHR) by 17.2% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,776 shares of the scientific and technical instruments company’s stock after buying an additional 261 shares during the period. World Asset Management Inc’s holdings in Coherent were worth $400,000 as of its most recent filing with the SEC.
Several other large investors have also modified their holdings of the stock. Hanson McClain Inc. increased its stake in shares of Coherent by 54.5% in the first quarter. Hanson McClain Inc. now owns 709 shares of the scientific and technical instruments company’s stock worth $146,000 after buying an additional 250 shares during the last quarter. Bank of Montreal Can increased its stake in shares of Coherent by 11.4% in the first quarter. Bank of Montreal Can now owns 812 shares of the scientific and technical instruments company’s stock worth $167,000 after buying an additional 83 shares during the last quarter. Asset Management One Co. Ltd. acquired a new stake in shares of Coherent during the first quarter worth about $170,000. Coldstream Capital Management Inc. acquired a new stake in shares of Coherent during the first quarter worth about $202,000. Finally, Daiwa Securities Group Inc. acquired a new stake in shares of Coherent during the second quarter worth about $202,000. 92.94% of the stock is owned by hedge funds and other institutional investors.
Coherent, Inc. (NASDAQ COHR) opened at 214.53 on Friday. Coherent, Inc. has a one year low of $100.01 and a one year high of $278.39. The company has a 50-day moving average of $243.98 and a 200 day moving average of $217.57. The company has a market cap of $5.28 billion, a P/E ratio of 32.30 and a beta of 0.72.
Coherent (NASDAQ:COHR) last released its quarterly earnings data on Tuesday, August 1st. The scientific and technical instruments company reported $3.36 earnings per share for the quarter, missing analysts’ consensus estimates of $3.45 by $0.09. Coherent had a net margin of 11.08% and a return on equity of 24.98%. The firm had revenue of $464.10 million during the quarter, compared to analysts’ expectations of $466.90 million. During the same period in the previous year, the firm posted $1.07 EPS. The firm’s quarterly revenue was up 112.1% on a year-over-year basis. Analysts anticipate that Coherent, Inc. will post $12.27 earnings per share for the current year.
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COHR has been the subject of a number of recent research reports. BidaskClub raised shares of Coherent from a “hold” rating to a “buy” rating in a research report on Thursday, July 13th. Longbow Research reissued a “buy” rating and set a $325.00 price objective on shares of Coherent in a research report on Wednesday, June 28th. Needham & Company LLC boosted their price objective on shares of Coherent from $215.00 to $265.00 and gave the company a “buy” rating in a research report on Wednesday, May 10th. Stifel Nicolaus boosted their price objective on shares of Coherent from $220.00 to $270.00 and gave the company a “buy” rating in a research report on Wednesday, May 10th. Finally, Benchmark Co. reissued a “buy” rating on shares of Coherent in a research report on Wednesday, May 10th. One research analyst has rated the stock with a hold rating and ten have issued a buy rating to the stock. Coherent currently has an average rating of “Buy” and a consensus target price of $268.88.
In other Coherent news, EVP Mark Stewart Sobey sold 4,904 shares of Coherent stock in a transaction on Wednesday, May 24th. The shares were sold at an average price of $243.02, for a total value of $1,191,770.08. Following the completion of the transaction, the executive vice president now owns 12,397 shares of the company’s stock, valued at $3,012,718.94. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Garry W. Rogerson sold 4,500 shares of Coherent stock in a transaction on Tuesday, May 16th. The shares were sold at an average price of $257.03, for a total transaction of $1,156,635.00. The disclosure for this sale can be found here. Insiders sold 34,874 shares of company stock valued at $8,667,703 in the last ninety days. 1.40% of the stock is owned by corporate insiders.
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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