Deutsche Bank AG lifted its stake in Coherent, Inc. (NASDAQ:COHR) by 118.3% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 250,643 shares of the scientific and technical instruments company’s stock after acquiring an additional 135,813 shares during the quarter. Deutsche Bank AG owned approximately 1.01% of Coherent worth $70,733,000 as of its most recent SEC filing.
Several other large investors also recently added to or reduced their stakes in COHR. Carillon Tower Advisers Inc. acquired a new stake in shares of Coherent in the fourth quarter valued at about $213,124,000. TimesSquare Capital Management LLC increased its position in shares of Coherent by 421.4% in the fourth quarter. TimesSquare Capital Management LLC now owns 372,300 shares of the scientific and technical instruments company’s stock valued at $105,071,000 after acquiring an additional 300,900 shares during the last quarter. Janus Henderson Group PLC acquired a new stake in shares of Coherent in the third quarter valued at about $48,672,000. Renaissance Technologies LLC increased its position in shares of Coherent by 146.8% in the fourth quarter. Renaissance Technologies LLC now owns 265,800 shares of the scientific and technical instruments company’s stock valued at $75,014,000 after acquiring an additional 158,100 shares during the last quarter. Finally, Arrowstreet Capital Limited Partnership increased its position in shares of Coherent by 110.2% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 191,500 shares of the scientific and technical instruments company’s stock valued at $54,045,000 after acquiring an additional 100,400 shares during the last quarter. 98.43% of the stock is currently owned by institutional investors and hedge funds.
In other news, Director Stephen A. Skaggs sold 500 shares of the company’s stock in a transaction that occurred on Monday, February 12th. The stock was sold at an average price of $212.27, for a total value of $106,135.00. Following the transaction, the director now owns 10,500 shares of the company’s stock, valued at $2,228,835. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Paul F. Sechrist sold 1,372 shares of the company’s stock in a transaction that occurred on Thursday, January 4th. The shares were sold at an average price of $300.00, for a total value of $411,600.00. Following the completion of the transaction, the executive vice president now directly owns 2,497 shares in the company, valued at approximately $749,100. The disclosure for this sale can be found here. 0.97% of the stock is owned by insiders.
Coherent (NASDAQ:COHR) last announced its quarterly earnings results on Wednesday, February 7th. The scientific and technical instruments company reported $3.54 earnings per share for the quarter, topping analysts’ consensus estimates of $3.52 by $0.02. The firm had revenue of $477.60 million for the quarter, compared to the consensus estimate of $474.21 million. Coherent had a return on equity of 29.82% and a net margin of 11.79%. The business’s revenue was up 38.0% compared to the same quarter last year. During the same quarter in the previous year, the business earned $2.57 earnings per share. equities analysts forecast that Coherent, Inc. will post 14.62 EPS for the current year.
Coherent declared that its board has approved a stock repurchase plan on Wednesday, February 7th that permits the company to repurchase $100.00 million in outstanding shares. This repurchase authorization permits the scientific and technical instruments company to buy shares of its stock through open market purchases. Shares repurchase plans are usually a sign that the company’s management believes its shares are undervalued.
A number of analysts recently issued reports on COHR shares. Northcoast Research reaffirmed a “buy” rating and issued a $314.00 target price on shares of Coherent in a research report on Monday, February 12th. Stifel Nicolaus lowered their target price on Coherent from $330.00 to $310.00 and set a “buy” rating on the stock in a research report on Thursday, February 8th. Needham & Company LLC reaffirmed a “buy” rating and issued a $294.00 target price (down previously from $330.00) on shares of Coherent in a research report on Thursday, February 8th. BidaskClub raised Coherent from a “hold” rating to a “buy” rating in a research report on Thursday, January 18th. Finally, Barclays set a $332.00 price target on Coherent and gave the stock a “buy” rating in a research report on Wednesday, January 10th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and nine have assigned a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and a consensus target price of $312.22.
Coherent Company Profile
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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