Swiss National Bank Grows Stock Holdings in Coherent, Inc. (NASDAQ:COHR)

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Swiss National Bank grew its holdings in Coherent, Inc. (NASDAQ:COHR) by 1.8% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 45,288 shares of the scientific and technical instruments company’s stock after purchasing an additional 800 shares during the quarter. Swiss National Bank owned about 0.19% of Coherent worth $6,176,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. BlackRock Inc. raised its position in shares of Coherent by 1.2% during the 1st quarter. BlackRock Inc. now owns 2,268,315 shares of the scientific and technical instruments company’s stock valued at $321,464,000 after buying an additional 26,658 shares during the period. Victory Capital Management Inc. raised its position in Coherent by 9.7% in the first quarter. Victory Capital Management Inc. now owns 1,011,282 shares of the scientific and technical instruments company’s stock valued at $143,319,000 after purchasing an additional 89,701 shares during the period. Pictet Asset Management Ltd. raised its position in Coherent by 74.6% in the first quarter. Pictet Asset Management Ltd. now owns 614,170 shares of the scientific and technical instruments company’s stock valued at $87,040,000 after purchasing an additional 262,497 shares during the period. Royce & Associates LP raised its position in Coherent by 7.3% in the first quarter. Royce & Associates LP now owns 601,518 shares of the scientific and technical instruments company’s stock valued at $85,247,000 after purchasing an additional 40,927 shares during the period. Finally, DekaBank Deutsche Girozentrale raised its position in Coherent by 134.3% in the second quarter. DekaBank Deutsche Girozentrale now owns 484,319 shares of the scientific and technical instruments company’s stock valued at $65,741,000 after purchasing an additional 277,619 shares during the period. 97.19% of the stock is currently owned by institutional investors and hedge funds.

Shares of COHR stock opened at $139.17 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 fifty day moving average price of $139.09 and a 200 day moving average price of $135.85. The company has a market cap of $3.39 billion, a P/E ratio of 10.67 and a beta of 1.82. Coherent, Inc. has a 12 month low of $90.10 and a 12 month high of $192.37.

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

A number of analysts have issued reports on COHR shares. Stifel Nicolaus boosted their target price on Coherent from $165.00 to $174.00 and gave the company a “buy” rating in a research report on Wednesday, May 1st. ValuEngine upgraded shares of Coherent from a “hold” rating to a “buy” rating in a research note on Tuesday, August 6th. Benchmark restated a “buy” rating and issued a $165.00 price target on shares of Coherent in a research note on Wednesday, July 31st. TheStreet downgraded shares of Coherent from a “b-” rating to a “c+” rating in a research note on Wednesday, August 14th. Finally, BidaskClub upgraded shares of Coherent from a “buy” rating to a “strong-buy” rating in a research note on Wednesday, August 21st. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average price target of $148.00.

Coherent Company 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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