Coherent, Inc. (COHR) Shares Bought by LPL Financial LLC

LPL Financial LLC increased its stake in Coherent, Inc. (NASDAQ:COHR) by 22.1% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 4,798 shares of the scientific and technical instruments company’s stock after acquiring an additional 869 shares during the period. LPL Financial LLC’s holdings in Coherent were worth $1,354,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Oakbrook Investments LLC raised its holdings in Coherent by 7.0% in the fourth quarter. Oakbrook Investments LLC now owns 2,435 shares of the scientific and technical instruments company’s stock valued at $687,000 after buying an additional 160 shares during the period. Amalgamated Bank raised its holdings in Coherent by 5.5% in the fourth quarter. Amalgamated Bank now owns 5,141 shares of the scientific and technical instruments company’s stock valued at $1,451,000 after buying an additional 270 shares during the period. Ladenburg Thalmann Financial Services Inc. raised its holdings in Coherent by 12.8% in the third quarter. Ladenburg Thalmann Financial Services Inc. now owns 2,980 shares of the scientific and technical instruments company’s stock valued at $701,000 after buying an additional 337 shares during the period. UBS Asset Management Americas Inc. raised its holdings in Coherent by 1.7% in the fourth quarter. UBS Asset Management Americas Inc. now owns 20,274 shares of the scientific and technical instruments company’s stock valued at $5,722,000 after buying an additional 342 shares during the period. Finally, Aperio Group LLC raised its holdings in Coherent by 3.6% in the fourth quarter. Aperio Group LLC now owns 10,810 shares of the scientific and technical instruments company’s stock valued at $3,051,000 after buying an additional 371 shares during the period. 98.38% of the stock is currently owned by institutional investors and hedge funds.

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Several research firms recently commented on COHR. BidaskClub lowered shares of Coherent from a “hold” rating to a “sell” rating in a report on Thursday, March 29th. Barclays set a $325.00 price target on shares of Coherent and gave the company an “overweight” rating in a report on Thursday, February 8th. Stifel Nicolaus cut their price target on shares of Coherent from $330.00 to $310.00 and set a “buy” rating on the stock in a report on Thursday, February 8th. Northcoast Research restated a “buy” rating and issued a $314.00 price target on shares of Coherent in a report on Monday, February 12th. Finally, Zacks Investment Research upgraded shares of Coherent from a “hold” rating to a “buy” rating and set a $337.00 price target on the stock in a report on Wednesday, January 10th. Two analysts have rated the stock with a sell rating, one has issued a hold rating and nine have given a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and an average price target of $312.22.

In other news, Director Stephen A. Skaggs sold 500 shares of Coherent stock in a transaction that occurred on Monday, February 12th. The shares were sold at an average price of $212.27, for a total transaction of $106,135.00. Following the sale, the director now owns 10,500 shares in the company, valued at $2,228,835. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 1.40% of the company’s stock.

COHR opened at $175.04 on Friday. The company has a market cap of $4,409.82, a PE ratio of 13.93 and a beta of 0.96. Coherent, Inc. has a 52-week low of $172.81 and a 52-week high of $329.00. The company has a debt-to-equity ratio of 0.42, a quick ratio of 2.08 and a current ratio of 3.18.

Coherent (NASDAQ:COHR) last posted 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 analysts’ consensus estimates of $3.52 by $0.02. The company had revenue of $477.60 million for the quarter, compared to analyst estimates of $474.21 million. Coherent had a net margin of 11.79% and a return on equity of 29.82%. The business’s quarterly revenue was up 38.0% on a year-over-year basis. During the same quarter last year, the firm posted $2.57 earnings per share. equities research analysts predict that Coherent, Inc. will post 14.84 EPS for the current fiscal year.

Coherent announced that its board has initiated a share repurchase plan on Wednesday, February 7th that permits the company to buyback $100.00 million in outstanding shares. This buyback authorization permits the scientific and technical instruments company to reacquire shares of its stock through open market purchases. Stock buyback plans are typically a sign that the company’s leadership believes its stock is undervalued.

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About Coherent

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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