Alps Advisors Inc. grew its stake in shares of Coherent, Inc. (NASDAQ:COHR) by 17.2% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 2,156 shares of the scientific and technical instruments company’s stock after purchasing an additional 317 shares during the quarter. Alps Advisors Inc.’s holdings in Coherent were worth $404,000 as of its most recent SEC filing.
Several other large investors also recently bought and sold shares of the company. ARP Americas LP grew its holdings in shares of Coherent by 157.1% during the first quarter. ARP Americas LP now owns 9,400 shares of the scientific and technical instruments company’s stock valued at $1,762,000 after purchasing an additional 5,744 shares during the last quarter. Westport Asset Management Inc. grew its holdings in Coherent by 120.0% in the 1st quarter. Westport Asset Management Inc. now owns 5,500 shares of the scientific and technical instruments company’s stock worth $1,031,000 after buying an additional 3,000 shares in the last quarter. Dupont Capital Management Corp grew its holdings in Coherent by 99.7% in the 1st quarter. Dupont Capital Management Corp now owns 2,592 shares of the scientific and technical instruments company’s stock worth $486,000 after buying an additional 1,294 shares in the last quarter. Groesbeck Investment Management Corp NJ grew its holdings in Coherent by 45.2% in the 1st quarter. Groesbeck Investment Management Corp NJ now owns 1,350 shares of the scientific and technical instruments company’s stock worth $253,000 after buying an additional 420 shares in the last quarter. Finally, Cambridge Investment Research Advisors Inc. bought a new position in Coherent in the 4th quarter worth approximately $238,000. 99.75% of the stock is owned by institutional investors.
A number of brokerages recently issued reports on COHR. Needham & Company LLC reissued a “buy” rating and issued a $294.00 price objective (down from $330.00) on shares of Coherent in a report on Thursday, February 8th. Stifel Nicolaus began coverage on Coherent in a report on Thursday, May 10th. They issued a “buy” rating and a $248.00 price objective for the company. BidaskClub raised Coherent from a “sell” rating to a “hold” rating in a report on Friday, May 11th. Zacks Investment Research raised Coherent from a “sell” rating to a “hold” rating in a report on Monday, April 16th. Finally, Northcoast Research reissued a “buy” rating and issued a $314.00 price objective on shares of Coherent in a report on Monday, February 12th. Two equities research analysts have rated the stock with a sell rating, one has assigned a hold rating and nine have issued a buy rating to the company. The stock presently has a consensus rating of “Buy” and an average price target of $284.67.
Coherent (NASDAQ:COHR) last released its earnings results on Tuesday, May 1st. The scientific and technical instruments company reported $3.37 earnings per share for the quarter, missing analysts’ consensus estimates of $3.49 by ($0.12). The firm had revenue of $481.10 million during the quarter, compared to analyst estimates of $481.82 million. Coherent had a return on equity of 29.28% and a net margin of 12.65%. The business’s revenue for the quarter was up 13.8% on a year-over-year basis. During the same quarter last year, the company earned $2.91 earnings per share. analysts predict that Coherent, Inc. will post 13.27 EPS for the current fiscal year.
Coherent announced that its board has authorized a share repurchase program on Wednesday, February 7th that permits the company to repurchase $100.00 million in shares. This repurchase authorization permits the scientific and technical instruments company to purchase shares of its stock through open market purchases. Stock repurchase programs are typically a sign that the company’s board of directors believes its stock is undervalued.
Coherent, Inc provides lasers and laser-based technology in a range of scientific, commercial, and industrial applications worldwide. It operates through two segments, Specialty Lasers and Systems, and Commercial Lasers and Components. The company designs, manufactures, services, and markets lasers, laser tools, precision optics, and related accessories.
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