Candriam Luxembourg S.C.A. purchased a new position in Coherent, Inc. (NASDAQ:COHR) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 12,932 shares of the scientific and technical instruments company’s stock, valued at approximately $2,910,000. Candriam Luxembourg S.C.A. owned 0.05% of Coherent at the end of the most recent quarter.
Several other hedge funds also recently made changes to their positions in the company. Hanson McClain Inc. raised its position in shares of Coherent by 54.5% in the first quarter. Hanson McClain Inc. now owns 709 shares of the scientific and technical instruments company’s stock worth $146,000 after buying an additional 250 shares during the period. Bank of Montreal Can raised its position in shares of Coherent by 11.4% in the first quarter. Bank of Montreal Can now owns 812 shares of the scientific and technical instruments company’s stock worth $167,000 after buying an additional 83 shares during the period. Asset Management One Co. Ltd. acquired a new position in shares of Coherent during the first quarter worth about $170,000. Coldstream Capital Management Inc. acquired a new position in shares of Coherent during the first quarter worth about $202,000. Finally, Daiwa Securities Group Inc. acquired a new position in shares of Coherent during the second quarter worth about $202,000. Institutional investors and hedge funds own 92.40% of the company’s stock.
Coherent, Inc. (NASDAQ COHR) traded up 1.52% during midday trading on Friday, hitting $218.36. The stock had a trading volume of 488,742 shares. Coherent, Inc. has a one year low of $100.01 and a one year high of $278.39. The company has a market cap of $5.38 billion, a P/E ratio of 32.88 and a beta of 0.72. The stock’s 50-day moving average is $242.38 and its 200-day moving average is $219.85.
Coherent (NASDAQ:COHR) last announced its quarterly earnings results on Tuesday, August 1st. The scientific and technical instruments company reported $3.36 earnings per share (EPS) for the quarter, missing the consensus estimate of $3.45 by $0.09. Coherent had a net margin of 11.08% and a return on equity of 24.98%. The firm had revenue of $464.10 million during the quarter, compared to analyst estimates of $466.90 million. During the same period last year, the firm earned $1.07 EPS. Coherent’s quarterly revenue was up 112.1% on a year-over-year basis. Equities analysts predict that Coherent, Inc. will post $12.27 EPS for the current fiscal year.
A number of equities analysts recently issued reports on COHR shares. Needham & Company LLC reissued a “buy” rating and issued a $270.00 price objective (up from $265.00) on shares of Coherent in a report on Wednesday, August 2nd. Benchmark Co. reissued a “buy” rating and issued a $290.00 price objective (down from $295.00) on shares of Coherent in a report on Tuesday, August 8th. ValuEngine raised Coherent from a “hold” rating to a “buy” rating in a report on Wednesday, August 2nd. Zacks Investment Research lowered Coherent from a “buy” rating to a “hold” rating in a research note on Monday, August 7th. Finally, BidaskClub lowered Coherent from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, June 14th. One research analyst has rated the stock with a hold rating and ten have given a buy rating to the stock. The company presently has a consensus rating of “Buy” and an average target price of $268.88.
In related news, EVP Mark Stewart Sobey sold 4,904 shares of the company’s stock in a transaction on Wednesday, May 24th. The shares were sold at an average price of $243.02, for a total value of $1,191,770.08. Following the completion of the transaction, the executive vice president now directly owns 12,397 shares of the company’s stock, valued at approximately $3,012,718.94. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Stephen A. Skaggs sold 500 shares of the company’s stock in a transaction on Monday, August 14th. The stock was sold at an average price of $217.58, for a total transaction of $108,790.00. Following the completion of the transaction, the director now directly owns 11,500 shares of the company’s stock, valued at $2,502,170. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 30,374 shares of company stock valued at $7,495,118. Company insiders own 1.40% of the company’s stock.
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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