Russell Investments Group Ltd. Increases Stake in Coherent, Inc. (NASDAQ:COHR)

Russell Investments Group Ltd. raised its stake in Coherent, Inc. (NASDAQ:COHR) by 24.9% during the second quarter, according to its most recent disclosure with the SEC. The firm owned 83,119 shares of the scientific and technical instruments company’s stock after buying an additional 16,577 shares during the period. Russell Investments Group Ltd. owned 0.34% of Coherent worth $18,701,000 at the end of the most recent reporting period.

A number of other large investors have also bought and sold shares of COHR. Hanson McClain Inc. boosted its stake in Coherent by 54.5% in the first quarter. Hanson McClain Inc. now owns 709 shares of the scientific and technical instruments company’s stock valued at $146,000 after buying an additional 250 shares during the period. Bank of Montreal Can boosted its stake in Coherent by 11.4% in the first quarter. Bank of Montreal Can now owns 812 shares of the scientific and technical instruments company’s stock valued at $167,000 after buying an additional 83 shares during the period. Asset Management One Co. Ltd. acquired a new stake in Coherent during the first quarter valued at about $170,000. Coldstream Capital Management Inc. acquired a new stake in Coherent during the first quarter valued at about $202,000. Finally, Symmetry Peak Management LLC acquired a new stake in Coherent during the first quarter valued at about $206,000. 92.40% of the stock is owned by institutional investors.

Coherent, Inc. (NASDAQ:COHR) traded up 1.52% on Friday, hitting $218.36. The stock had a trading volume of 488,742 shares. Coherent, Inc. has a one year low of $100.01 and a one year high of $278.39. The firm has a market cap of $5.38 billion, a price-to-earnings ratio of 32.88 and a beta of 0.72. The company’s 50-day moving average price is $242.38 and its 200 day moving average price is $219.85.

Coherent (NASDAQ:COHR) last issued its quarterly earnings results on Tuesday, August 1st. The scientific and technical instruments company reported $3.36 EPS for the quarter, missing the consensus estimate of $3.45 by $0.09. Coherent had a return on equity of 24.98% and a net margin of 11.08%. The company had revenue of $464.10 million for the quarter, compared to the consensus estimate of $466.90 million. During the same period in the previous year, the business posted $1.07 EPS. The business’s revenue for the quarter was up 112.1% on a year-over-year basis. Analysts expect that Coherent, Inc. will post $12.27 earnings per share for the current year.

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Several equities research analysts have issued reports on the company. Benchmark Co. reissued a “buy” rating and set a $290.00 target price (down previously from $295.00) on shares of Coherent in a research note on Tuesday, August 8th. Barclays PLC assumed coverage on Coherent in a research note on Monday, August 7th. They set an “overweight” rating and a $285.00 target price for the company. Zacks Investment Research cut Coherent from a “buy” rating to a “hold” rating in a research note on Monday, August 7th. UBS AG raised Coherent from a “neutral” rating to a “positive” rating in a research note on Thursday, August 3rd. Finally, Susquehanna Bancshares Inc raised Coherent from a “neutral” rating to a “positive” rating and raised their target price for the stock from $255.00 to $275.00 in a research note on Thursday, August 3rd. One analyst has rated the stock with a hold rating and ten have given a buy rating to the company’s stock. Coherent currently has a consensus rating of “Buy” and a consensus target price of $268.88.

In other news, CEO John Ambroseo sold 24,970 shares of the stock in a transaction dated Monday, May 22nd. The shares were sold at an average price of $248.08, for a total transaction of $6,194,557.60. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, EVP Mark Stewart Sobey sold 4,904 shares of the stock in a transaction dated Wednesday, May 24th. The stock was sold at an average price of $243.02, for a total transaction of $1,191,770.08. Following the transaction, the executive vice president now directly owns 12,397 shares in the company, valued at approximately $3,012,718.94. The disclosure for this sale can be found here. Insiders have sold 30,374 shares of company stock worth $7,495,118 in the last ninety days. Corporate insiders own 1.40% of the company’s stock.

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).

Institutional Ownership by Quarter for Coherent (NASDAQ:COHR)

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