Emerald Advisers Inc. PA increased its stake in shares of Coherent, Inc. (NASDAQ:COHR) by 60.3% in the fourth quarter, Holdings Channel reports. The institutional investor owned 4,351 shares of the scientific and technical instruments company’s stock after buying an additional 1,637 shares during the quarter. Emerald Advisers Inc. PA’s holdings in Coherent were worth $1,228,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Tygh Capital Management Inc. increased its holdings in Coherent by 36.4% during the third quarter. Tygh Capital Management Inc. now owns 35,672 shares of the scientific and technical instruments company’s stock worth $8,389,000 after buying an additional 9,529 shares during the last quarter. Flinton Capital Management LLC increased its holdings in Coherent by 73.8% during the second quarter. Flinton Capital Management LLC now owns 1,168 shares of the scientific and technical instruments company’s stock worth $263,000 after buying an additional 496 shares during the last quarter. Gotham Asset Management LLC purchased a new stake in Coherent during the second quarter worth about $458,000. Affinity Wealth Management increased its holdings in Coherent by 39.5% during the third quarter. Affinity Wealth Management now owns 2,505 shares of the scientific and technical instruments company’s stock worth $589,000 after buying an additional 709 shares during the last quarter. Finally, Jag Capital Management LLC purchased a new position in shares of Coherent in the fourth quarter worth about $13,008,000. Institutional investors and hedge funds own 96.63% of the company’s stock.

Coherent, Inc. (NASDAQ:COHR) opened at $205.89 on Friday. The firm has a market cap of $6,184.08, a PE ratio of 24.69 and a beta of 0.65. The company has a debt-to-equity ratio of 0.51, a current ratio of 3.13 and a quick ratio of 2.14. Coherent, Inc. has a 12 month low of $179.60 and a 12 month high of $329.00.

Coherent (NASDAQ:COHR) last posted its earnings results on Wednesday, February 7th. The scientific and technical instruments company reported $3.54 earnings per share for the quarter, topping the consensus estimate of $3.52 by $0.02. Coherent had a net margin of 12.02% and a return on equity of 28.53%. The firm had revenue of $477.60 million during the quarter, compared to the consensus estimate of $474.21 million. During the same quarter last year, the company earned $2.57 earnings per share. The company’s revenue was up 38.0% on a year-over-year basis. equities research analysts expect that Coherent, Inc. will post 15.56 EPS for the current fiscal year.

Coherent declared that its board has approved a share repurchase plan on Wednesday, February 7th that permits the company to repurchase $100.00 million in shares. This repurchase authorization permits the scientific and technical instruments company to purchase shares of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s management believes its shares are undervalued.

In other news, EVP Paul F. Sechrist sold 1,372 shares of the firm’s stock in a transaction that occurred on Thursday, January 4th. The shares were sold at an average price of $300.00, for a total value of $411,600.00. Following the completion of the transaction, the executive vice president now directly owns 2,497 shares in the company, valued at $749,100. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP Bret Dimarco sold 1,195 shares of the firm’s stock in a transaction that occurred on Tuesday, November 14th. The shares were sold at an average price of $301.89, for a total transaction of $360,758.55. Following the completion of the transaction, the vice president now owns 2,198 shares of the company’s stock, valued at $663,554.22. The disclosure for this sale can be found here. Insiders sold 9,569 shares of company stock valued at $2,898,201 over the last 90 days. 1.40% of the stock is owned by company insiders.

Several equities analysts have recently weighed in on the stock. Stifel Nicolaus lifted their target price 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. Benchmark lifted their target price on shares of Coherent from $290.00 to $310.00 and gave the stock a “buy” rating in a research note on Wednesday, November 8th. Barclays set a $332.00 target price on shares of Coherent and gave the stock a “buy” rating in a research note on Wednesday, January 10th. BidaskClub upgraded shares of Coherent from a “hold” rating to a “buy” rating in a research note on Thursday, January 18th. Finally, Zacks Investment Research downgraded shares of Coherent from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, January 9th. Two research analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and an average target price of $312.22.

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About Coherent

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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