Sterling Capital Management LLC Takes $1.74 Million Position in Coherent, Inc. (COHR)

Sterling Capital Management LLC bought a new stake in shares of Coherent, Inc. (NASDAQ:COHR) in the fourth quarter, HoldingsChannel.com reports. The firm bought 6,168 shares of the scientific and technical instruments company’s stock, valued at approximately $1,741,000.

A number of other institutional investors have also recently made changes to their positions in COHR. First Republic Investment Management Inc. purchased a new position in Coherent during the 4th quarter valued at about $208,000. Commerce Bank purchased a new position in Coherent during the 4th quarter valued at about $226,000. CIBC Asset Management Inc purchased a new position in Coherent during the 4th quarter valued at about $236,000. Moors & Cabot Inc. purchased a new position in Coherent during the 4th quarter valued at about $236,000. Finally, DekaBank Deutsche Girozentrale boosted its holdings in Coherent by 97.0% during the 3rd quarter. DekaBank Deutsche Girozentrale now owns 1,064 shares of the scientific and technical instruments company’s stock valued at $238,000 after acquiring an additional 524 shares during the period. Institutional investors own 98.38% of the company’s stock.

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COHR has been the subject of a number of research analyst reports. Needham & Company LLC restated a “buy” rating and set a $294.00 target price (down from $330.00) on shares of Coherent in a report on Thursday, February 8th. Zacks Investment Research upgraded Coherent from a “hold” rating to a “buy” rating and set a $337.00 target price for the company in a report on Wednesday, January 10th. BidaskClub cut Coherent from a “buy” rating to a “hold” rating in a report on Friday, January 26th. Barclays set a $325.00 target price on Coherent and gave the company an “overweight” rating in a report on Thursday, February 8th. Finally, Northcoast Research restated a “buy” rating and set a $314.00 target price on shares of Coherent in a report on Monday, February 12th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and nine have issued a buy rating to the company. Coherent currently has a consensus rating of “Buy” and a consensus target price of $312.22.

In related news, EVP Paul F. Sechrist sold 1,372 shares of the business’s stock in a transaction that occurred on Thursday, January 4th. The stock was sold at an average price of $300.00, for a total transaction of $411,600.00. Following the completion of the sale, the executive vice president now owns 2,497 shares in the company, valued at $749,100. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Stephen A. Skaggs sold 500 shares of the business’s stock in a transaction that occurred on Monday, February 12th. The stock was sold at an average price of $212.27, for a total value of $106,135.00. Following the sale, the director now owns 10,500 shares of the company’s stock, valued at approximately $2,228,835. The disclosure for this sale can be found here. Company insiders own 0.97% of the company’s stock.

Coherent, Inc. (COHR) opened at $192.04 on Monday. The company has a debt-to-equity ratio of 0.42, a current ratio of 3.18 and a quick ratio of 2.08. The stock has a market capitalization of $4,766.76, a PE ratio of 14.56 and a beta of 0.84. Coherent, Inc. has a 52 week low of $191.01 and a 52 week high of $329.00.

Coherent (NASDAQ:COHR) last announced its quarterly earnings data on Wednesday, February 7th. The scientific and technical instruments company reported $3.54 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.52 by $0.02. The business had revenue of $477.60 million during the quarter, compared to analysts’ expectations of $474.21 million. Coherent had a return on equity of 29.82% and a net margin of 11.79%. The business’s quarterly revenue was up 38.0% compared to the same quarter last year. During the same quarter last year, the business posted $2.57 EPS. sell-side analysts expect that Coherent, Inc. will post 14.62 earnings per share for the current fiscal year.

Coherent announced that its board has authorized a stock repurchase program on Wednesday, February 7th that allows the company to buyback $100.00 million in shares. This buyback authorization allows the scientific and technical instruments company to reacquire shares of its stock through open market purchases. Stock buyback programs are usually an indication that the company’s leadership believes its shares are undervalued.

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About Coherent

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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Institutional Ownership by Quarter for Coherent (NASDAQ:COHR)

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