Dupont Capital Management Corp raised its holdings in Coherent, Inc. (NASDAQ:COHR) by 99.7% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,592 shares of the scientific and technical instruments company’s stock after buying an additional 1,294 shares during the period. Dupont Capital Management Corp’s holdings in Coherent were worth $486,000 as of its most recent SEC filing.
Several other hedge funds have also recently modified their holdings of the business. Koch Industries Inc. purchased a new position in shares of Coherent during the fourth quarter worth about $315,000. Bank of Montreal Can grew its holdings in shares of Coherent by 91.9% during the fourth quarter. Bank of Montreal Can now owns 3,351 shares of the scientific and technical instruments company’s stock worth $945,000 after buying an additional 1,605 shares during the last quarter. State of Alaska Department of Revenue purchased a new position in shares of Coherent during the fourth quarter worth about $507,000. LPL Financial LLC grew its holdings in shares of Coherent by 22.1% during the fourth quarter. LPL Financial LLC now owns 4,798 shares of the scientific and technical instruments company’s stock worth $1,354,000 after buying an additional 869 shares during the last quarter. Finally, Macquarie Group Ltd. grew its holdings in shares of Coherent by 26.3% during the fourth quarter. Macquarie Group Ltd. now owns 13,504 shares of the scientific and technical instruments company’s stock worth $3,811,000 after buying an additional 2,809 shares during the last quarter. 99.93% of the stock is currently owned by institutional investors.
A number of equities research analysts have weighed in on COHR shares. BidaskClub downgraded Coherent from a “hold” rating to a “sell” rating in a research report on Thursday, March 29th. Needham & Company LLC cut their price objective on Coherent to $250.00 and set a “buy” rating for the company in a research report on Wednesday, May 2nd. ValuEngine downgraded Coherent from a “hold” rating to a “sell” rating in a research report on Thursday, April 19th. Stifel Nicolaus initiated coverage on Coherent in a research report on Thursday, May 10th. They set a “buy” rating and a $248.00 price objective for the company. Finally, Benchmark reiterated a “buy” rating and issued a $310.00 price target on shares of Coherent in a report on Monday, April 9th. Two research analysts have rated the stock with a sell rating, one has given a hold rating and nine have given a buy rating to the company’s stock. The company presently has an average rating of “Buy” and an average target price of $284.67.
Shares of Coherent opened at $168.59 on Tuesday, Marketbeat Ratings reports. Coherent, Inc. has a 12 month low of $157.47 and a 12 month high of $329.00. The company has a current ratio of 3.10, a quick ratio of 1.88 and a debt-to-equity ratio of 0.35. The firm has a market capitalization of $4.12 billion, a price-to-earnings ratio of 13.41 and a beta of 0.98.
Coherent (NASDAQ:COHR) last issued its earnings results on Tuesday, May 1st. The scientific and technical instruments company reported $3.37 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $3.49 by ($0.12). The company had revenue of $481.10 million during the quarter, compared to analyst estimates of $481.82 million. Coherent had a net margin of 12.65% and a return on equity of 29.28%. The business’s revenue for the quarter was up 13.8% compared to the same quarter last year. During the same quarter last year, the company posted $2.91 EPS. sell-side analysts forecast that Coherent, Inc. will post 13.27 EPS for the current fiscal year.
Coherent announced that its board has authorized a stock repurchase program on Wednesday, February 7th that allows the company to buyback $100.00 million in outstanding shares. This buyback authorization allows the scientific and technical instruments company to buy shares of its stock through open market purchases. Stock buyback programs are typically an indication that the company’s leadership believes its shares are undervalued.
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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