BlackRock Inc. Acquires 119,540 Shares of Coherent, Inc. (COHR)

BlackRock Inc. grew its holdings in Coherent, Inc. (NASDAQ:COHR) by 5.5% in the second quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 2,276,061 shares of the scientific and technical instruments company’s stock after buying an additional 119,540 shares during the quarter. BlackRock Inc. owned 9.17% of Coherent worth $356,022,000 as of its most recent filing with the SEC.

Several other hedge funds have also made changes to their positions in the company. Eagle Asset Management Inc. raised its stake in shares of Coherent by 7.5% in the 1st quarter. Eagle Asset Management Inc. now owns 1,256,193 shares of the scientific and technical instruments company’s stock valued at $235,410,000 after buying an additional 87,205 shares in the last quarter. Carillon Tower Advisers Inc. raised its stake in shares of Coherent by 1.5% in the 2nd quarter. Carillon Tower Advisers Inc. now owns 813,013 shares of the scientific and technical instruments company’s stock valued at $127,171,000 after buying an additional 11,621 shares in the last quarter. Epoch Investment Partners Inc. raised its stake in shares of Coherent by 0.7% in the 1st quarter. Epoch Investment Partners Inc. now owns 594,484 shares of the scientific and technical instruments company’s stock valued at $111,406,000 after buying an additional 4,003 shares in the last quarter. Earnest Partners LLC raised its stake in shares of Coherent by 2.2% in the 1st quarter. Earnest Partners LLC now owns 453,873 shares of the scientific and technical instruments company’s stock valued at $85,056,000 after buying an additional 9,868 shares in the last quarter. Finally, Artisan Partners Limited Partnership raised its stake in shares of Coherent by 34.9% in the 1st quarter. Artisan Partners Limited Partnership now owns 428,349 shares of the scientific and technical instruments company’s stock valued at $80,273,000 after buying an additional 110,806 shares in the last quarter. Institutional investors own 98.59% of the company’s stock.

Shares of Coherent stock opened at $179.36 on Friday. The stock has a market cap of $4.32 billion, a P/E ratio of 14.27 and a beta of 1.05. The company has a quick ratio of 1.87, a current ratio of 3.28 and a debt-to-equity ratio of 0.34. Coherent, Inc. has a 12-month low of $145.66 and a 12-month high of $329.00.

Coherent (NASDAQ:COHR) last announced its earnings results on Tuesday, July 31st. The scientific and technical instruments company reported $3.51 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $3.54 by ($0.03). The firm had revenue of $482.00 million for the quarter, compared to analyst estimates of $491.31 million. Coherent had a return on equity of 28.01% and a net margin of 12.84%. The company’s revenue for the quarter was up 3.9% compared to the same quarter last year. During the same quarter last year, the business earned $3.36 EPS. equities research analysts forecast that Coherent, Inc. will post 13.14 EPS for the current fiscal year.

COHR has been the subject of a number of recent research reports. ValuEngine upgraded shares of Coherent from a “sell” rating to a “hold” rating in a research note on Tuesday, July 31st. Benchmark reiterated a “buy” rating and set a $242.00 target price on shares of Coherent in a research report on Tuesday, June 12th. Needham & Company LLC dropped their target price on shares of Coherent from $205.00 to $190.00 and set a “buy” rating for the company in a research report on Wednesday, August 1st. BidaskClub cut shares of Coherent from a “hold” rating to a “sell” rating in a research report on Friday, June 22nd. Finally, Longbow Research set a $215.00 target price on shares of Coherent and gave the stock a “buy” rating in a research report on Thursday, August 23rd. Two investment analysts have rated the stock with a sell rating, one has given a hold rating and seven have issued a buy rating to the company’s stock. The company currently has an average rating of “Buy” and a consensus target price of $240.88.

In related news, EVP Mark Stewart Sobey sold 13,000 shares of the stock in a transaction dated Tuesday, August 14th. The shares were sold at an average price of $181.86, for a total transaction of $2,364,180.00. Following the completion of the sale, the executive vice president now owns 17,887 shares in the company, valued at approximately $3,252,929.82. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 1.40% of the company’s stock.

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.

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Institutional Ownership by Quarter for Coherent (NASDAQ:COHR)

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