Allianz Asset Management GmbH Reduces Stake in Coherent, Inc. (COHR)

Allianz Asset Management GmbH lowered its stake in Coherent, Inc. (NASDAQ:COHR) by 4.5% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 280,784 shares of the scientific and technical instruments company’s stock after selling 13,234 shares during the quarter. Allianz Asset Management GmbH owned approximately 1.13% of Coherent worth $52,619,000 as of its most recent SEC filing.

Several other hedge funds also recently bought and sold shares of the company. Koch Industries Inc. acquired a new position in shares of Coherent in the fourth quarter valued at approximately $315,000. Macquarie Group Ltd. increased its stake in shares of Coherent by 26.3% in the fourth quarter. Macquarie Group Ltd. now owns 13,504 shares of the scientific and technical instruments company’s stock valued at $3,811,000 after buying an additional 2,809 shares during the period. LPL Financial LLC increased its stake in shares of Coherent by 22.1% in the fourth quarter. LPL Financial LLC now owns 4,798 shares of the scientific and technical instruments company’s stock valued at $1,354,000 after buying an additional 869 shares during the period. Deutsche Bank AG increased its stake in shares of Coherent by 118.3% in the fourth quarter. Deutsche Bank AG now owns 250,643 shares of the scientific and technical instruments company’s stock valued at $70,733,000 after buying an additional 135,813 shares during the period. Finally, Teza Capital Management LLC acquired a new position in shares of Coherent in the first quarter valued at approximately $387,000. 98.39% of the stock is owned by hedge funds and other institutional investors.

Several research firms have recently issued reports on COHR. BidaskClub raised Coherent from a “sell” rating to a “hold” rating in a research note on Wednesday. Stifel Nicolaus began coverage on Coherent in a research note on Thursday, May 10th. They issued a “buy” rating and a $248.00 price objective for the company. Zacks Investment Research raised Coherent from a “sell” rating to a “hold” rating in a research note on Monday, April 16th. Benchmark reaffirmed a “buy” rating and issued a $275.00 price objective (down previously from $310.00) on shares of Coherent in a research note on Wednesday, May 2nd. Finally, Needham & Company LLC lowered their price objective on Coherent from $250.00 to $205.00 and set a “buy” rating for the company in a research note on Tuesday, June 12th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and eight have assigned a buy rating to the company. Coherent currently has an average rating of “Buy” and a consensus price target of $269.88.

NASDAQ:COHR opened at $165.77 on Wednesday. The company has a market cap of $3.92 billion, a price-to-earnings ratio of 13.19 and a beta of 0.96. The company has a debt-to-equity ratio of 0.35, a current ratio of 3.10 and a quick ratio of 1.88. Coherent, Inc. has a fifty-two week low of $145.66 and a fifty-two week high of $329.00.

Coherent (NASDAQ:COHR) last released its earnings results on Tuesday, May 1st. The scientific and technical instruments company reported $3.37 earnings per share for the quarter, missing analysts’ consensus estimates of $3.49 by ($0.12). The firm had revenue of $481.10 million for 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 period in the prior year, the company posted $2.91 EPS. sell-side analysts expect that Coherent, Inc. will post 13.27 EPS for the current year.

Coherent Profile

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.

Institutional Ownership by Quarter for Coherent (NASDAQ:COHR)

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