Jane Street Group LLC raised its holdings in shares of Coherent, Inc. (NASDAQ:COHR) by 4,191.8% during the 2nd quarter, Holdings Channel reports. The firm owned 3,648 shares of the scientific and technical instruments company’s stock after acquiring an additional 3,563 shares during the quarter. Jane Street Group LLC’s holdings in Coherent were worth $571,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds have also modified their holdings of COHR. OppenheimerFunds Inc. boosted its stake in Coherent by 57.0% during the 2nd quarter. OppenheimerFunds Inc. now owns 1,103,326 shares of the scientific and technical instruments company’s stock valued at $172,582,000 after purchasing an additional 400,681 shares during the last quarter. Sterling Capital Management LLC boosted its stake in Coherent by 4,143.0% during the 2nd quarter. Sterling Capital Management LLC now owns 343,175 shares of the scientific and technical instruments company’s stock valued at $53,679,000 after purchasing an additional 335,087 shares during the last quarter. Wells Fargo & Company MN boosted its stake in Coherent by 154.0% during the 2nd quarter. Wells Fargo & Company MN now owns 329,944 shares of the scientific and technical instruments company’s stock valued at $51,609,000 after purchasing an additional 200,049 shares during the last quarter. Handelsbanken Fonder AB purchased a new stake in Coherent during the 1st quarter valued at $29,295,000. Finally, BlackRock Inc. boosted its stake in Coherent by 5.5% during the 2nd quarter. BlackRock Inc. now owns 2,276,061 shares of the scientific and technical instruments company’s stock valued at $356,022,000 after purchasing an additional 119,540 shares during the last quarter. Institutional investors and hedge funds own 98.58% of the company’s stock.
In other news, EVP Mark Stewart Sobey sold 13,000 shares of the stock in a transaction on Tuesday, August 14th. The stock was sold at an average price of $181.86, for a total transaction of $2,364,180.00. Following the transaction, the executive vice president now directly owns 17,887 shares of the company’s stock, valued at approximately $3,252,929.82. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 0.97% of the stock is owned by corporate insiders.
Several analysts have commented on the company. ValuEngine upgraded Coherent from a “sell” rating to a “hold” rating in a research note on Monday, September 24th. Zacks Investment Research upgraded Coherent from a “strong sell” rating to a “hold” rating in a research note on Tuesday, September 25th. Northcoast Research reissued a “buy” rating and set a $217.00 price target on shares of Coherent in a report on Thursday, August 2nd. Longbow Research set a $215.00 price target on Coherent and gave the company a “buy” rating in a report on Thursday, August 23rd. Finally, Benchmark reissued a “buy” rating and set a $216.00 price target on shares of Coherent in a report on Thursday, September 13th. Three research analysts have rated the stock with a sell rating, two have assigned a hold rating and four have assigned a buy rating to the company. The company has an average rating of “Hold” and an average target price of $229.57.
NASDAQ COHR opened at $132.57 on Friday. The firm has a market cap of $4.18 billion, a PE ratio of 10.55 and a beta of 1.04. The company has a current ratio of 3.28, a quick ratio of 1.87 and a debt-to-equity ratio of 0.34. Coherent, Inc. has a 1-year low of $130.57 and a 1-year high of $329.00.
Coherent (NASDAQ:COHR) last released its quarterly earnings results on Tuesday, July 31st. The scientific and technical instruments company reported $3.51 earnings per share for the quarter, missing the consensus estimate of $3.54 by ($0.03). The firm had revenue of $482.00 million for the quarter, compared to the consensus estimate of $491.31 million. Coherent had a net margin of 12.84% and a return on equity of 28.01%. Coherent’s quarterly revenue was up 3.9% compared to the same quarter last year. During the same period in the previous year, the company earned $3.36 earnings per share. As a group, analysts forecast that Coherent, Inc. will post 13.14 EPS for the current fiscal year.
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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