Coherent, Inc. (NASDAQ:COHR) Shares Acquired by DekaBank Deutsche Girozentrale

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DekaBank Deutsche Girozentrale lifted its position in shares of Coherent, Inc. (NASDAQ:COHR) by 134.3% in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 484,319 shares of the scientific and technical instruments company’s stock after buying an additional 277,619 shares during the period. DekaBank Deutsche Girozentrale’s holdings in Coherent were worth $65,741,000 as of its most recent SEC filing.

Other hedge funds have also recently added to or reduced their stakes in the company. Steward Partners Investment Advisory LLC acquired a new stake in shares of Coherent during the 2nd quarter worth $28,000. Synovus Financial Corp increased its holdings in shares of Coherent by 400.0% during the 1st quarter. Synovus Financial Corp now owns 320 shares of the scientific and technical instruments company’s stock worth $45,000 after buying an additional 256 shares during the last quarter. Cerebellum GP LLC acquired a new stake in shares of Coherent during the 2nd quarter worth $48,000. First Mercantile Trust Co. acquired a new stake in shares of Coherent during the 1st quarter worth $64,000. Finally, Manchester Capital Management LLC purchased a new stake in Coherent during the 1st quarter worth $79,000. Institutional investors and hedge funds own 96.43% of the company’s stock.

NASDAQ:COHR opened at $143.18 on Wednesday. The company has a current ratio of 3.97, a quick ratio of 2.34 and a debt-to-equity ratio of 0.31. The firm has a 50-day moving average price of $136.32. The stock has a market cap of $3.26 billion, a PE ratio of 10.98 and a beta of 1.82. Coherent, Inc. has a 1-year low of $90.10 and a 1-year high of $192.37.

Coherent (NASDAQ:COHR) last posted its quarterly earnings data on Tuesday, July 30th. The scientific and technical instruments company reported $1.33 earnings per share for the quarter, beating analysts’ consensus estimates of $1.05 by $0.28. The company had revenue of $339.17 million during the quarter, compared to analysts’ expectations of $348.61 million. Coherent had a net margin of 8.12% and a return on equity of 13.38%. The firm’s revenue for the quarter was down 29.7% on a year-over-year basis. During the same period in the prior year, the company posted $3.51 EPS. On average, analysts predict that Coherent, Inc. will post 4.92 earnings per share for the current year.

A number of analysts recently weighed in on COHR shares. Benchmark reaffirmed a “buy” rating and set a $165.00 price target on shares of Coherent in a research report on Wednesday, July 31st. Zacks Investment Research cut shares of Coherent from a “hold” rating to a “strong sell” rating in a research report on Monday, August 5th. Susquehanna Bancshares cut shares of Coherent from a “positive” rating to a “neutral” rating and set a $140.00 price target for the company. in a research report on Monday, April 29th. ValuEngine raised shares of Coherent from a “hold” rating to a “buy” rating in a research report on Tuesday, August 6th. Finally, BidaskClub raised shares of Coherent from a “hold” rating to a “buy” rating in a research report on Friday, June 28th. One investment analyst has rated the stock with a sell rating, six have given a hold rating and six have issued a buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average price target of $159.17.

Coherent Profile

Coherent, Inc provides lasers, laser-based technologies, and laser-based system solutions for a range of scientific, commercial, and industrial applications. It operates through two segments, OEM Laser Sources and Industrial Lasers & Systems. The company designs, manufactures, markets, and services lasers, laser tools, precision optics, and related accessories; and laser measurement and control products.

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Institutional Ownership by Quarter for Coherent (NASDAQ:COHR)

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