Los Angeles Capital Management & Equity Research Inc. lessened its stake in shares of Coherent, Inc. (NASDAQ:COHR) by 27.4% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 30,366 shares of the scientific and technical instruments company’s stock after selling 11,480 shares during the quarter. Los Angeles Capital Management & Equity Research Inc. owned approximately 0.12% of Coherent worth $4,750,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Teza Capital Management LLC bought a new stake in Coherent during the 1st quarter valued at $387,000. Employees Retirement System of Texas boosted its position in Coherent by 75.0% during the 1st quarter. Employees Retirement System of Texas now owns 14,000 shares of the scientific and technical instruments company’s stock valued at $2,624,000 after acquiring an additional 6,000 shares in the last quarter. Trellus Management Company LLC bought a new stake in Coherent during the 2nd quarter valued at $673,000. Handelsinvest Investeringsforvaltning bought a new stake in Coherent during the 1st quarter valued at $3,748,000. Finally, DekaBank Deutsche Girozentrale boosted its position in Coherent by 6,555.5% during the 1st quarter. DekaBank Deutsche Girozentrale now owns 70,814 shares of the scientific and technical instruments company’s stock valued at $12,751,000 after acquiring an additional 69,750 shares in the last quarter.

Coherent opened at $180.20 on Friday, MarketBeat.com reports. The company has a quick ratio of 1.87, a current ratio of 3.28 and a debt-to-equity ratio of 0.34. The firm has a market capitalization of $4.30 billion, a PE ratio of 12.93 and a beta of 0.96. Coherent, Inc. has a 1-year low of $145.66 and a 1-year high of $329.00.

Coherent (NASDAQ:COHR) last posted its quarterly earnings data on Tuesday, July 31st. The scientific and technical instruments company reported $3.51 earnings per share for the quarter, missing the Zacks’ consensus estimate of $3.54 by ($0.03). The business had revenue of $482.00 million during the quarter, compared to analyst estimates of $491.31 million. Coherent had a return on equity of 28.01% and a net margin of 12.84%. The firm’s revenue for the quarter was up 3.9% compared to the same quarter last year. During the same period in the previous year, the business earned $3.36 EPS. equities research analysts expect that Coherent, Inc. will post 13.14 EPS for the current fiscal year.

Several analysts have issued reports on the company. Northcoast Research reaffirmed a “buy” rating and set a $217.00 target price on shares of Coherent in a research report on Thursday, August 2nd. Needham & Company LLC dropped their target price on Coherent from $205.00 to $190.00 and set a “buy” rating on the stock in a research report on Wednesday, August 1st. Benchmark reaffirmed a “buy” rating and set a $216.00 target price (down previously from $242.00) on shares of Coherent in a research report on Wednesday, August 1st. ValuEngine raised Coherent from a “sell” rating to a “hold” rating in a research report on Tuesday, July 31st. Finally, Zacks Investment Research cut Coherent from a “hold” rating to a “strong sell” rating in a research report on Tuesday, July 31st. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and seven have given a buy rating to the stock. The stock has an average rating of “Buy” and an average price target of $248.38.

About Coherent

Coherent, Inc provides lasers and laser-based technology in a range of scientific, commercial, and industrial applications worldwide. It operates through two segments, Specialty Lasers and Systems, and Commercial Lasers and Components. The company designs, manufactures, services, and markets lasers, laser tools, precision optics, and related accessories.

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Institutional Ownership by Quarter for Coherent (NASDAQ:COHR)

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