Schwab Charles Investment Management Inc. trimmed its stake in shares of Coherent, Inc. (NASDAQ:COHR) by 30.5% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 92,820 shares of the scientific and technical instruments company’s stock after selling 40,651 shares during the quarter. Schwab Charles Investment Management Inc. owned approximately 0.38% of Coherent worth $20,884,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds also recently bought and sold shares of the company. Bank of Montreal Can lifted its holdings in Coherent by 11.4% in the 1st 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 period. Asset Management One Co. Ltd. purchased a new stake in Coherent in the 1st quarter worth approximately $170,000. Smithfield Trust Co. purchased a new stake in Coherent in the 2nd quarter worth approximately $199,000. Daiwa Securities Group Inc. purchased a new stake in Coherent in the 2nd quarter worth approximately $202,000. Finally, Symmetry Peak Management LLC purchased a new stake in Coherent in the 1st quarter worth approximately $206,000. Institutional investors and hedge funds own 90.21% of the company’s stock.

Several equities research analysts have weighed in on the company. ValuEngine cut Coherent from a “buy” rating to a “hold” rating in a report on Friday, July 14th. Susquehanna Bancshares Inc reiterated a “positive” rating and issued a $275.00 price objective on shares of Coherent in a report on Tuesday, September 5th. Northcoast Research restated a “buy” rating and issued a $314.00 target price (up previously from $311.00) on shares of Coherent in a research note on Tuesday, September 12th. Longbow Research restated a “buy” rating and issued a $325.00 target price on shares of Coherent in a research note on Wednesday, June 28th. Finally, Stifel Nicolaus restated a “buy” rating and issued a $290.00 target price on shares of Coherent in a research note on Wednesday, September 13th. Two equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. Coherent presently has a consensus rating of “Buy” and a consensus price target of $291.88.

Shares of Coherent, Inc. (COHR) opened at 265.87 on Wednesday. The firm has a 50 day moving average price of $230.30 and a 200-day moving average price of $228.71. The company has a market cap of $6.55 billion, a price-to-earnings ratio of 40.03 and a beta of 0.76. Coherent, Inc. has a 12-month low of $100.01 and a 12-month high of $281.00.

Coherent (NASDAQ:COHR) last posted its earnings results 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). The company had revenue of $464.10 million for the quarter, compared to analysts’ expectations of $466.90 million. Coherent had a return on equity of 24.98% and a net margin of 11.08%. The firm’s quarterly revenue was up 112.1% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.07 EPS. On average, equities analysts expect that Coherent, Inc. will post $12.27 earnings per share for the current fiscal year.

In other news, Director Stephen A. Skaggs sold 500 shares of the stock in a transaction on Monday, August 14th. The stock was sold at an average price of $217.58, for a total transaction of $108,790.00. Following the completion of the sale, the director now owns 11,500 shares in the company, valued at approximately $2,502,170. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO John Ambroseo sold 25,000 shares of the stock in a transaction on Tuesday, September 12th. The shares were sold at an average price of $250.00, for a total value of $6,250,000.00. The disclosure for this sale can be found here. 1.40% of the stock is owned by corporate insiders.

TRADEMARK VIOLATION NOTICE: This story was originally reported by Daily Political and is the property of of Daily Political. If you are viewing this story on another website, it was illegally stolen and republished in violation of United States & international copyright law. The correct version of this story can be accessed at https://www.dailypolitical.com/2017/09/20/schwab-charles-investment-management-inc-sells-40651-shares-of-coherent-inc-cohr.html.

Coherent Company 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)

Receive News & Ratings for Coherent Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Coherent Inc. and related companies with MarketBeat.com's FREE daily email newsletter.