Westport Asset Management Inc. trimmed its stake in Coherent, Inc. (NASDAQ:COHR) by 36.4% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 3,500 shares of the scientific and technical instruments company’s stock after selling 2,000 shares during the period. Westport Asset Management Inc.’s holdings in Coherent were worth $370,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Focused Wealth Management Inc acquired a new position in Coherent during the 3rd quarter valued at about $115,000. Meristem Family Wealth LLC acquired a new position in Coherent during the 3rd quarter valued at about $201,000. Piedmont Investment Advisors Inc. increased its position in Coherent by 41,833.3% during the 3rd quarter. Piedmont Investment Advisors Inc. now owns 1,258 shares of the scientific and technical instruments company’s stock valued at $217,000 after buying an additional 1,255 shares in the last quarter. D.A. Davidson & CO. acquired a new position in Coherent during the 3rd quarter valued at about $243,000. Finally, Private Advisor Group LLC acquired a new position in Coherent during the 3rd quarter valued at about $263,000. 96.43% of the stock is owned by hedge funds and other institutional investors.

Coherent stock traded down $0.80 during trading hours on Monday, hitting $128.06. 345,326 shares of the stock traded hands, compared to its average volume of 413,497. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.95 and a current ratio of 3.26. The company has a market cap of $3.12 billion, a PE ratio of 9.82 and a beta of 1.53. Coherent, Inc. has a 1 year low of $90.10 and a 1 year high of $233.93.

Coherent (NASDAQ:COHR) last posted its quarterly earnings results on Tuesday, January 29th. The scientific and technical instruments company reported $2.09 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $2.07 by $0.02. The business had revenue of $383.15 million for the quarter, compared to the consensus estimate of $382.65 million. Coherent had a return on equity of 22.05% and a net margin of 13.33%. As a group, analysts predict that Coherent, Inc. will post 7.15 EPS for the current fiscal year.

COHR has been the topic of several recent analyst reports. Vertical Group started coverage on Coherent in a research report on Tuesday, November 27th. They set a “buy” rating on the stock. Benchmark reiterated a “buy” rating and set a $162.00 price target (down previously from $212.00) on shares of Coherent in a research note on Wednesday, January 30th. Barclays downgraded Coherent from an “overweight” rating to an “equal weight” rating and dropped their price target for the company from $162.00 to $125.00 in a research note on Thursday, January 17th. BidaskClub upgraded Coherent from a “sell” rating to a “hold” rating in a research note on Tuesday, January 15th. Finally, Goldman Sachs Group started coverage on Coherent in a research note on Monday, December 10th. They set a “neutral” rating and a $136.00 price target on the stock. Two equities research analysts have rated the stock with a sell rating, five have given a hold rating and five have assigned a buy rating to the stock. Coherent has a consensus rating of “Hold” and a consensus price target of $175.71.

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About Coherent

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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