Nationwide Fund Advisors reduced its position in Coherent, Inc. (NASDAQ:COHR) by 2.1% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 67,023 shares of the scientific and technical instruments company’s stock after selling 1,440 shares during the period. Nationwide Fund Advisors owned approximately 0.27% of Coherent worth $15,080,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. BlackRock Inc. lifted its holdings in shares of Coherent by 124,951.8% in the 1st quarter. BlackRock Inc. now owns 2,486,029 shares of the scientific and technical instruments company’s stock worth $511,226,000 after purchasing an additional 2,484,041 shares in the last quarter. OppenheimerFunds Inc. lifted its holdings in shares of Coherent by 1.3% in the 1st quarter. OppenheimerFunds Inc. now owns 1,063,449 shares of the scientific and technical instruments company’s stock worth $218,688,000 after purchasing an additional 14,001 shares in the last quarter. State Street Corp lifted its holdings in shares of Coherent by 42.3% in the 1st quarter. State Street Corp now owns 766,435 shares of the scientific and technical instruments company’s stock worth $157,609,000 after purchasing an additional 227,897 shares in the last quarter. Epoch Investment Partners Inc. bought a new position in shares of Coherent in the 1st quarter worth $114,876,000. Finally, Alliancebernstein L.P. lifted its holdings in shares of Coherent by 1,420.6% in the 1st quarter. Alliancebernstein L.P. now owns 556,538 shares of the scientific and technical instruments company’s stock worth $114,446,000 after purchasing an additional 519,939 shares in the last quarter. Institutional investors own 90.21% of the company’s stock.

COHR has been the topic of several recent analyst reports. Susquehanna Bancshares Inc restated a “neutral” rating and set a $255.00 price objective (up from $240.00) on shares of Coherent in a research note on Friday, June 30th. ValuEngine cut Coherent from a “buy” rating to a “hold” rating in a research note on Friday, September 1st. Benchmark Co. restated a “buy” rating and set a $295.00 price objective (up from $275.00) on shares of Coherent in a research note on Thursday, July 20th. Needham & Company LLC restated a “buy” rating and set a $270.00 price objective (up from $265.00) on shares of Coherent in a research note on Wednesday, August 2nd. Finally, Stifel Nicolaus restated a “buy” rating and set a $290.00 price objective (up from $270.00) on shares of Coherent in a research note on Friday, June 30th. Two equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. Coherent currently has a consensus rating of “Buy” and a consensus price target of $291.88.

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Coherent, Inc. (NASDAQ COHR) opened at 255.88 on Friday. The firm’s 50-day moving average price is $230.30 and its 200 day moving average price is $228.71. The company has a market capitalization of $6.30 billion, a PE ratio of 38.52 and a beta of 0.76. Coherent, Inc. has a 52 week low of $100.01 and a 52 week high of $281.00.

Coherent (NASDAQ:COHR) last released its earnings results on Tuesday, August 1st. The scientific and technical instruments company reported $3.36 EPS for the quarter, missing analysts’ consensus estimates of $3.45 by ($0.09). Coherent had a return on equity of 24.98% and a net margin of 11.08%. The company had revenue of $464.10 million during the quarter, compared to analysts’ expectations of $466.90 million. During the same period in the prior year, the company posted $1.07 earnings per share. The company’s revenue was up 112.1% on a year-over-year basis. Equities research 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 value of $108,790.00. Following the sale, the director now directly owns 11,500 shares of the company’s stock, valued at $2,502,170. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CEO John Ambroseo sold 25,000 shares of the stock in a transaction on Tuesday, September 12th. The stock was 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. Corporate insiders own 1.40% of the company’s stock.

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).

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Institutional Ownership by Quarter for Coherent (NASDAQ:COHR)

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