Zurcher Kantonalbank Zurich Cantonalbank Has $200,000 Stake in Coherent, Inc. (COHR)
Zurcher Kantonalbank Zurich Cantonalbank lessened its holdings in Coherent, Inc. (NASDAQ:COHR) by 29.6% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 849 shares of the scientific and technical instruments company’s stock after selling 357 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Coherent were worth $200,000 at the end of the most recent quarter.
Other large investors have also bought and sold shares of the company. Daiwa Securities Group Inc. purchased a new position in Coherent in the second quarter valued at $202,000. WESPAC Advisors LLC purchased a new position in Coherent in the second quarter valued at $211,000. Coldstream Capital Management Inc. increased its holdings in Coherent by 3.1% in the second quarter. Coldstream Capital Management Inc. now owns 1,010 shares of the scientific and technical instruments company’s stock valued at $227,000 after buying an additional 30 shares during the last quarter. BB&T Securities LLC purchased a new position in Coherent in the second quarter valued at $236,000. Finally, DekaBank Deutsche Girozentrale increased its holdings in Coherent by 97.0% in the third quarter. DekaBank Deutsche Girozentrale now owns 1,064 shares of the scientific and technical instruments company’s stock valued at $238,000 after buying an additional 524 shares during the last quarter. 97.06% of the stock is currently owned by hedge funds and other institutional investors.
In other news, Director Stephen A. Skaggs sold 500 shares of the stock in a transaction dated Monday, November 13th. The shares were sold at an average price of $308.97, for a total transaction of $154,485.00. Following the completion of the sale, the director now owns 11,000 shares in the company, valued at $3,398,670. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, CEO John Ambroseo sold 25,000 shares of the stock in a transaction dated Tuesday, September 12th. The stock was sold at an average price of $250.00, for a total transaction of $6,250,000.00. The disclosure for this sale can be found here. Insiders have sold 43,416 shares of company stock valued at $11,740,028 in the last quarter. Insiders own 1.40% of the company’s stock.
Several brokerages have issued reports on COHR. Northcoast Research reaffirmed a “buy” rating and set a $314.00 price objective (up previously from $311.00) on shares of Coherent in a report on Tuesday, September 12th. Needham & Company LLC raised their price objective on Coherent from $270.00 to $330.00 and gave the stock a “buy” rating in a report on Wednesday, November 8th. Stifel Nicolaus reaffirmed a “buy” rating and set a $290.00 price objective on shares of Coherent in a report on Wednesday, September 13th. Zacks Investment Research raised Coherent from a “hold” rating to a “strong-buy” rating and set a $270.00 price objective on the stock in a report on Tuesday, October 3rd. Finally, Summit Redstone reaffirmed a “buy” rating and set a $320.00 price objective on shares of Coherent in a report on Saturday, September 23rd. One investment analyst has rated the stock with a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the company. Coherent presently has a consensus rating of “Buy” and an average target price of $309.89.
Coherent, Inc. (NASDAQ:COHR) opened at $284.20 on Thursday. Coherent, Inc. has a twelve month low of $128.21 and a twelve month high of $320.73. The stock has a market capitalization of $6,998.98, a PE ratio of 23.72 and a beta of 0.81. The company has a current ratio of 3.13, a quick ratio of 2.14 and a debt-to-equity ratio of 0.51.
Coherent (NASDAQ:COHR) last announced its earnings results on Tuesday, November 7th. The scientific and technical instruments company reported $3.72 earnings per share for the quarter, topping the consensus estimate of $3.48 by $0.24. Coherent had a net margin of 12.02% and a return on equity of 28.53%. The business had revenue of $490.00 million during the quarter, compared to the consensus estimate of $475.24 million. During the same quarter in the prior year, the firm earned $1.65 earnings per share. The business’s quarterly revenue was up 97.2% compared to the same quarter last year. sell-side analysts forecast that Coherent, Inc. will post 15.56 EPS for the current year.
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Coherent Company Profile
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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