State Board of Administration of Florida Retirement System Has $6.97 Million Stock Position in Coherent, Inc. (NASDAQ:COHR)

State Board of Administration of Florida Retirement System raised its position in Coherent, Inc. (NASDAQ:COHR) by 2.9% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 27,885 shares of the scientific and technical instruments company’s stock after acquiring an additional 783 shares during the period. State Board of Administration of Florida Retirement System owned about 0.11% of Coherent worth $6,974,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of COHR. IFP Advisors Inc raised its holdings in shares of Coherent by 53.8% in the 3rd quarter. IFP Advisors Inc now owns 200 shares of the scientific and technical instruments company’s stock worth $50,000 after buying an additional 70 shares in the last quarter. Great West Life Assurance Co. Can raised its holdings in shares of Coherent by 1.1% in the 2nd quarter. Great West Life Assurance Co. Can now owns 9,579 shares of the scientific and technical instruments company’s stock worth $2,533,000 after buying an additional 103 shares in the last quarter. Virtu Financial LLC raised its holdings in shares of Coherent by 12.9% in the 2nd quarter. Virtu Financial LLC now owns 1,931 shares of the scientific and technical instruments company’s stock worth $510,000 after buying an additional 221 shares in the last quarter. Fifth Third Bancorp raised its holdings in shares of Coherent by 26.4% in the 3rd quarter. Fifth Third Bancorp now owns 1,261 shares of the scientific and technical instruments company’s stock worth $315,000 after buying an additional 263 shares in the last quarter. Finally, State of New Jersey Common Pension Fund D raised its holdings in shares of Coherent by 2.0% in the 3rd quarter. State of New Jersey Common Pension Fund D now owns 14,858 shares of the scientific and technical instruments company’s stock worth $3,716,000 after buying an additional 298 shares in the last quarter. 82.15% of the stock is owned by hedge funds and other institutional investors.

A number of equities analysts have recently issued reports on COHR shares. Zacks Investment Research raised Coherent from a “strong sell” rating to a “hold” rating in a report on Tuesday. Stifel Nicolaus initiated coverage on Coherent in a research report on Monday, October 4th. They set a “hold” rating and a $270.00 price target on the stock. Susquehanna Bancshares lowered Coherent to a “neutral” rating and increased their price target for the stock from $160.00 to $273.00 in a research report on Wednesday, September 22nd. Finally, Susquehanna lowered Coherent from a “positive” rating to a “neutral” rating and increased their price target for the stock from $160.00 to $273.00 in a research report on Tuesday, September 21st. Seven research analysts have rated the stock with a hold rating, According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $266.20.

Shares of COHR opened at $259.65 on Friday. The company has a current ratio of 3.09, a quick ratio of 2.06 and a debt-to-equity ratio of 0.49. The business’s fifty day moving average price is $262.29 and its two-hundred day moving average price is $255.96. Coherent, Inc. has a 52 week low of $144.85 and a 52 week high of $270.99.

Coherent (NASDAQ:COHR) last announced its quarterly earnings data on Tuesday, November 9th. The scientific and technical instruments company reported $1.77 EPS for the quarter, missing the Zacks’ consensus estimate of $2.02 by ($0.25). The firm had revenue of $391.67 million during the quarter, compared to the consensus estimate of $413.20 million. Coherent had a negative net margin of 7.18% and a positive return on equity of 13.24%. Research analysts anticipate that Coherent, Inc. will post 6.3 earnings per share for the current fiscal year.

Coherent Profile

Coherent, Inc is a provider of laser solutions and optics for microelectronics, life sciences, industrial manufacturing, scientific and aerospace, and defense markets. It operates through the following business segments: OEM Laser Sources (OLS) and Industrial Lasers & Systems (ILS). The OLS segment focuses on laser sources and complex optical sub-systems, typically used in microelectronics manufacturing, medical diagnostics, and therapeutic medical applications.

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Institutional Ownership by Quarter for Coherent (NASDAQ:COHR)

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