Goldman Sachs Group Inc. cut its position in Coherent, Inc. (NASDAQ:COHR) by 2.3% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 357,712 shares of the scientific and technical instruments company’s stock after selling 8,462 shares during the quarter. Goldman Sachs Group Inc. owned approximately 1.44% of Coherent worth $100,954,000 at the end of the most recent reporting period.
A number of other large investors have also recently bought and sold shares of COHR. Carillon Tower Advisers Inc. acquired a new stake in Coherent in the 4th quarter worth $213,124,000. TimesSquare Capital Management LLC grew its position in Coherent by 421.4% in the 4th quarter. TimesSquare Capital Management LLC now owns 372,300 shares of the scientific and technical instruments company’s stock worth $105,071,000 after purchasing an additional 300,900 shares during the last quarter. Janus Henderson Group PLC acquired a new stake in Coherent in the 3rd quarter worth $48,672,000. Renaissance Technologies LLC grew its position in Coherent by 146.8% in the 4th quarter. Renaissance Technologies LLC now owns 265,800 shares of the scientific and technical instruments company’s stock worth $75,014,000 after purchasing an additional 158,100 shares during the last quarter. Finally, Deutsche Bank AG grew its position in Coherent by 118.3% in the 4th quarter. Deutsche Bank AG now owns 250,643 shares of the scientific and technical instruments company’s stock worth $70,733,000 after purchasing an additional 135,813 shares during the last quarter. Institutional investors and hedge funds own 98.43% of the company’s stock.
In related news, Director Stephen A. Skaggs sold 500 shares of Coherent stock in a transaction dated Monday, February 12th. The shares were sold at an average price of $212.27, for a total transaction of $106,135.00. Following the completion of the transaction, the director now directly owns 10,500 shares of the company’s stock, valued at approximately $2,228,835. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Paul F. Sechrist sold 1,372 shares of Coherent stock in a transaction dated Thursday, January 4th. The shares were sold at an average price of $300.00, for a total transaction of $411,600.00. Following the transaction, the executive vice president now directly owns 2,497 shares of the company’s stock, valued at $749,100. The disclosure for this sale can be found here. Company insiders own 0.97% of the company’s stock.
Coherent, Inc. (COHR) opened at $223.06 on Wednesday. The company has a market cap of $5,687.89, a PE ratio of 17.37 and a beta of 0.84. Coherent, Inc. has a 1-year low of $183.02 and a 1-year high of $329.00. The company has a current ratio of 3.18, a quick ratio of 2.08 and a debt-to-equity ratio of 0.42.
Coherent (NASDAQ:COHR) last released its quarterly earnings data on Wednesday, February 7th. The scientific and technical instruments company reported $3.54 EPS for the quarter, topping analysts’ consensus estimates of $3.52 by $0.02. Coherent had a net margin of 11.79% and a return on equity of 29.82%. The company had revenue of $477.60 million during the quarter, compared to the consensus estimate of $474.21 million. During the same period last year, the firm earned $2.57 EPS. The firm’s revenue for the quarter was up 38.0% compared to the same quarter last year. research analysts anticipate that Coherent, Inc. will post 14.62 earnings per share for the current fiscal year.
Coherent declared that its Board of Directors has initiated a stock repurchase plan on Wednesday, February 7th that permits the company to buyback $100.00 million in shares. This buyback authorization permits the scientific and technical instruments company to purchase shares of its stock through open market purchases. Shares buyback plans are often a sign that the company’s leadership believes its stock is undervalued.
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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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