Texas Permanent School Fund lessened its stake in Coherent, Inc. (NASDAQ:COHR) by 0.6% in the 3rd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 16,323 shares of the scientific and technical instruments company’s stock after selling 95 shares during the quarter. Texas Permanent School Fund owned approximately 0.07% of Coherent worth $2,509,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently modified their holdings of COHR. Invesco Ltd. grew its holdings in shares of Coherent by 407.0% during the second quarter. Invesco Ltd. now owns 637,904 shares of the scientific and technical instruments company’s stock worth $86,991,000 after buying an additional 512,094 shares in the last quarter. DekaBank Deutsche Girozentrale increased its stake in Coherent by 134.3% during the second quarter. DekaBank Deutsche Girozentrale now owns 484,319 shares of the scientific and technical instruments company’s stock worth $65,741,000 after purchasing an additional 277,619 shares during the period. Westfield Capital Management Co. LP purchased a new stake in Coherent during the second quarter worth about $32,405,000. Victory Capital Management Inc. increased its stake in Coherent by 18.2% during the second quarter. Victory Capital Management Inc. now owns 1,194,882 shares of the scientific and technical instruments company’s stock worth $162,946,000 after purchasing an additional 183,600 shares during the period. Finally, State of New Jersey Common Pension Fund D increased its stake in Coherent by 66.7% during the second quarter. State of New Jersey Common Pension Fund D now owns 300,000 shares of the scientific and technical instruments company’s stock worth $40,911,000 after purchasing an additional 120,000 shares during the period. 99.24% of the stock is owned by institutional investors.

A number of analysts recently weighed in on the stock. Zacks Investment Research upgraded shares of Coherent from a “strong sell” rating to a “hold” rating in a research note on Tuesday, October 1st. Benchmark increased their price target on shares of Coherent from $175.00 to $182.00 and gave the company a “buy” rating in a research note on Wednesday. ValuEngine lowered shares of Coherent from a “buy” rating to a “hold” rating in a research note on Monday, October 21st. TheStreet lowered shares of Coherent from a “b-” rating to a “c+” rating in a research note on Wednesday, August 14th. Finally, BidaskClub lowered shares of Coherent from a “buy” rating to a “hold” rating in a research note on Thursday, October 24th. Eight equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. The stock has an average rating of “Hold” and a consensus target price of $151.40.

COHR stock opened at $167.01 on Friday. The company has a market capitalization of $3.95 billion, a P/E ratio of 34.15 and a beta of 1.76. Coherent, Inc. has a twelve month low of $90.10 and a twelve month high of $173.92. The business has a 50 day simple moving average of $153.94 and a 200-day simple moving average of $141.15. The company has a current ratio of 3.97, a quick ratio of 2.34 and a debt-to-equity ratio of 0.31.

Coherent (NASDAQ:COHR) last posted its quarterly earnings data on Tuesday, November 5th. The scientific and technical instruments company reported $0.89 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.96 by ($0.07). The firm had revenue of $335.50 million during the quarter, compared to analyst estimates of $329.12 million. Coherent had a net margin of 3.76% and a return on equity of 8.90%. Coherent’s revenue was down 27.3% compared to the same quarter last year. During the same period in the previous year, the company posted $3.22 earnings per share. Research analysts predict that Coherent, Inc. will post 4.57 EPS for the current fiscal year.

About Coherent

Coherent, Inc provides lasers, laser-based technologies, and laser-based system solutions for a range of scientific, commercial, and industrial applications. It operates through two segments, OEM Laser Sources and Industrial Lasers & Systems. The company designs, manufactures, markets, and services lasers, laser tools, precision optics, and related accessories; and laser measurement and control products.

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Institutional Ownership by Quarter for Coherent (NASDAQ:COHR)

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