Cubist Systematic Strategies LLC lowered its holdings in Coherent, Inc. (NASDAQ:COHR) by 79.0% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 11,996 shares of the scientific and technical instruments company’s stock after selling 45,044 shares during the period. Cubist Systematic Strategies LLC’s holdings in Coherent were worth $2,821,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also bought and sold shares of the company. Epoch Investment Partners Inc. increased its holdings in Coherent by 3.6% during the 3rd quarter. Epoch Investment Partners Inc. now owns 962,918 shares of the scientific and technical instruments company’s stock worth $226,449,000 after acquiring an additional 33,295 shares during the period. Earnest Partners LLC increased its holdings in Coherent by 1.0% during the 3rd quarter. Earnest Partners LLC now owns 636,910 shares of the scientific and technical instruments company’s stock worth $149,782,000 after acquiring an additional 6,066 shares during the period. FMR LLC increased its holdings in Coherent by 23.2% during the 2nd quarter. FMR LLC now owns 494,053 shares of the scientific and technical instruments company’s stock worth $111,157,000 after acquiring an additional 93,014 shares during the period. NWQ Investment Management Company LLC increased its holdings in Coherent by 10.9% during the 3rd quarter. NWQ Investment Management Company LLC now owns 446,953 shares of the scientific and technical instruments company’s stock worth $105,110,000 after acquiring an additional 43,822 shares during the period. Finally, Koch Industries Inc. bought a new stake in Coherent during the 2nd quarter worth approximately $354,000. 97.06% of the stock is currently owned by institutional investors.

In other news, Director Sandeep Vij sold 4,400 shares of the company’s stock in a transaction on Friday, November 10th. The shares were sold at an average price of $292.79, for a total value of $1,288,276.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Stephen A. Skaggs sold 500 shares of the company’s stock in a transaction on Monday, November 13th. The shares were sold at an average price of $308.97, for a total transaction of $154,485.00. Following the completion of the sale, the director now directly owns 11,000 shares of the company’s stock, valued at approximately $3,398,670. The disclosure for this sale can be found here. Insiders sold a total of 18,416 shares of company stock valued at $5,490,028 in the last ninety days. 1.40% of the stock is owned by corporate insiders.

A number of research firms recently weighed in on COHR. Benchmark upped their target price on shares of Coherent from $290.00 to $310.00 and gave the stock a “buy” rating in a report on Wednesday, November 8th. Barclays boosted their price target on shares of Coherent from $285.00 to $315.00 and gave the stock an “overweight” rating in a research note on Wednesday, November 8th. Susquehanna Bancshares reissued a “positive” rating and issued a $275.00 price target on shares of Coherent in a research note on Tuesday, September 5th. Zacks Investment Research raised shares of Coherent from a “hold” rating to a “strong-buy” rating and set a $270.00 price target for the company in a research note on Tuesday, October 3rd. Finally, Stifel Nicolaus boosted their price target on shares of Coherent from $290.00 to $330.00 and gave the stock a “buy” rating in a research note on Wednesday, November 8th. One research analyst has rated the stock with a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the stock. The company presently has a consensus rating of “Buy” and an average target price of $309.89.

Coherent, Inc. (NASDAQ COHR) opened at $286.80 on Wednesday. The company has a quick ratio of 2.14, a current ratio of 3.13 and a debt-to-equity ratio of 0.51. Coherent, Inc. has a 12 month low of $129.62 and a 12 month high of $320.73. The company has a market cap of $7,217.64, a P/E ratio of 24.46 and a beta of 0.81.

Coherent (NASDAQ:COHR) last released its quarterly earnings results on Tuesday, November 7th. The scientific and technical instruments company reported $3.72 EPS for the quarter, topping the Zacks’ consensus estimate of $3.48 by $0.24. Coherent had a net margin of 12.02% and a return on equity of 28.53%. The business had revenue of $490.00 million during the quarter, compared to analysts’ expectations of $475.24 million. During the same quarter in the previous year, the company earned $1.65 EPS. The business’s quarterly revenue was up 97.2% compared to the same quarter last year. sell-side analysts expect that Coherent, Inc. will post 15.56 earnings per share for the current year.

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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).

Institutional Ownership by Quarter for Coherent (NASDAQ:COHR)

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