Jefferies Group LLC lifted its stake in shares of Coherent, Inc. (NASDAQ:COHR) by 13.2% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 6,084 shares of the scientific and technical instruments company’s stock after acquiring an additional 710 shares during the period. Jefferies Group LLC’s holdings in Coherent were worth $1,717,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds also recently bought and sold shares of COHR. Carillon Tower Advisers Inc. acquired a new stake in Coherent in the 4th quarter worth about $213,124,000. TimesSquare Capital Management LLC boosted its stake 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 buying an additional 300,900 shares during the last quarter. Janus Henderson Group PLC acquired a new stake in Coherent in the 3rd quarter worth about $48,672,000. Renaissance Technologies LLC boosted its stake 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 buying an additional 158,100 shares during the last quarter. Finally, Arrowstreet Capital Limited Partnership boosted its stake in Coherent by 110.2% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 191,500 shares of the scientific and technical instruments company’s stock worth $54,045,000 after buying an additional 100,400 shares during the last quarter. 98.43% of the stock is currently owned by institutional investors and hedge funds.
COHR has been the topic of a number of research analyst reports. Zacks Investment Research lowered Coherent from a “hold” rating to a “sell” rating in a research note on Monday, February 12th. BidaskClub lowered Coherent from a “buy” rating to a “hold” rating in a research note on Friday, January 26th. Barclays set a $332.00 price target on Coherent and gave the stock a “buy” rating in a research note on Wednesday, January 10th. Stifel Nicolaus decreased their price target on Coherent from $330.00 to $310.00 and set a “buy” rating on the stock in a research note on Thursday, February 8th. Finally, Northcoast Research reissued a “buy” rating and issued a $314.00 price target on shares of Coherent in a research note on Monday, February 12th. One research analyst has rated the stock with a sell rating, two have given a hold rating and nine have assigned a buy rating to the company. The stock has an average rating of “Buy” and an average price target of $312.22.
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. The company 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 company’s quarterly revenue was up 38.0% compared to the same quarter last year. During the same period last year, the business posted $2.57 EPS. equities research analysts anticipate that Coherent, Inc. will post 14.62 earnings per share for the current year.
Coherent declared that its board has approved a share repurchase program 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 repurchase shares of its stock through open market purchases. Stock repurchase programs are generally an indication that the company’s board of directors believes its stock is undervalued.
In other news, EVP Paul F. Sechrist sold 1,372 shares of the firm’s stock in a transaction dated Thursday, January 4th. The stock was sold at an average price of $300.00, for a total value of $411,600.00. Following the transaction, the executive vice president now directly owns 2,497 shares in the company, valued at approximately $749,100. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Stephen A. Skaggs sold 500 shares of the firm’s stock in a transaction dated Monday, February 12th. The stock was sold at an average price of $212.27, for a total value of $106,135.00. Following the completion of the transaction, the director now owns 10,500 shares in the company, valued at $2,228,835. The disclosure for this sale can be found here. Company insiders own 0.97% of the company’s stock.
ILLEGAL ACTIVITY NOTICE: This report was first published by American Banking News and is owned by of American Banking News. If you are viewing this report on another website, it was illegally stolen and republished in violation of U.S. and international copyright and trademark laws. The legal version of this report can be accessed at https://www.americanbankingnews.com/2018/03/14/jefferies-group-llc-has-1-72-million-position-in-coherent-inc-cohr.html.
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).
Want to see what other hedge funds are holding COHR? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Coherent, Inc. (NASDAQ:COHR).
Receive News & Ratings for Coherent Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Coherent and related companies with MarketBeat.com's FREE daily email newsletter.