Westwood Management Corp IL raised its stake in shares of Coherent, Inc. (NASDAQ:COHR) by 4.2% during the first quarter, according to its most recent disclosure with the SEC. The institutional investor owned 240,500 shares of the scientific and technical instruments company’s stock after buying an additional 9,600 shares during the period. Coherent makes up 8.4% of Westwood Management Corp IL’s holdings, making the stock its 2nd largest position. Westwood Management Corp IL’s holdings in Coherent were worth $49,456,000 at the end of the most recent quarter.
A number of other institutional investors have also made changes to their positions in the stock. SG Americas Securities LLC purchased a new stake in Coherent during the third quarter worth approximately $430,000. Municipal Employees Retirement System of Michigan raised its stake in Coherent by 1.7% in the third quarter. Municipal Employees Retirement System of Michigan now owns 5,390 shares of the scientific and technical instruments company’s stock worth $596,000 after buying an additional 90 shares in the last quarter. BlackRock Institutional Trust Company N.A. raised its stake in Coherent by 0.3% in the third quarter. BlackRock Institutional Trust Company N.A. now owns 609,877 shares of the scientific and technical instruments company’s stock worth $67,416,000 after buying an additional 1,754 shares in the last quarter. BlackRock Group LTD raised its stake in Coherent by 1.5% in the third quarter. BlackRock Group LTD now owns 43,199 shares of the scientific and technical instruments company’s stock worth $4,775,000 after buying an additional 638 shares in the last quarter. Finally, Rhumbline Advisers raised its stake in Coherent by 7.4% in the third quarter. Rhumbline Advisers now owns 35,444 shares of the scientific and technical instruments company’s stock worth $3,918,000 after buying an additional 2,441 shares in the last quarter. Hedge funds and other institutional investors own 93.52% of the company’s stock.
Shares of Coherent, Inc. (NASDAQ:COHR) traded up 0.04% on Friday, reaching $205.47. 246,227 shares of the company traded hands. Coherent, Inc. has a one year low of $81.00 and a one year high of $208.62. The stock has a market capitalization of $5.04 billion, a P/E ratio of 51.64 and a beta of 0.80. The stock’s 50 day moving average price is $194.88 and its 200-day moving average price is $152.78.
Coherent (NASDAQ:COHR) last announced its quarterly earnings results on Tuesday, February 7th. The scientific and technical instruments company reported $2.57 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.76 by $0.81. The company had revenue of $346.10 million for the quarter, compared to analysts’ expectations of $316.98 million. Coherent had a net margin of 9.64% and a return on equity of 15.22%. Coherent’s revenue was up 81.9% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.99 EPS. Equities analysts forecast that Coherent, Inc. will post $9.86 earnings per share for the current fiscal year.
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A number of research firms have recently commented on COHR. Stifel Nicolaus upped their price objective on shares of Coherent from $135.00 to $145.00 and gave the company a “buy” rating in a research note on Tuesday, January 3rd. Zacks Investment Research raised shares of Coherent from a “hold” rating to a “strong-buy” rating and set a $222.00 price objective on the stock in a research note on Friday, March 24th. Needham & Company LLC reaffirmed a “buy” rating and issued a $205.00 price objective (up from $145.00) on shares of Coherent in a research note on Wednesday, February 8th. Susquehanna Bancshares Inc began coverage on shares of Coherent in a research note on Wednesday, February 15th. They issued a “neutral” rating and a $225.00 price objective on the stock. Finally, Benchmark Co. upped their price objective on shares of Coherent from $125.00 to $160.00 and gave the company a “buy” rating in a research note on Wednesday, December 28th. Two investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company. The stock currently has an average rating of “Buy” and an average price target of $187.00.
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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