Principal Financial Group Inc. Has $23.74 Million Holdings in Coherent, Inc. (COHR)

Principal Financial Group Inc. lowered its position in Coherent, Inc. (NASDAQ:COHR) by 3.2% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 105,527 shares of the scientific and technical instruments company’s stock after selling 3,458 shares during the quarter. Principal Financial Group Inc. owned about 0.43% of Coherent worth $23,742,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently made changes to their positions in the business. Zurcher Kantonalbank Zurich Cantonalbank increased its stake in shares of Coherent by 10.7% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,206 shares of the scientific and technical instruments company’s stock valued at $271,000 after purchasing an additional 117 shares during the period. Pacer Advisors Inc. increased its stake in shares of Coherent by 19.1% in the second quarter. Pacer Advisors Inc. now owns 3,304 shares of the scientific and technical instruments company’s stock valued at $743,000 after purchasing an additional 529 shares during the period. Utah Retirement Systems acquired a new stake in shares of Coherent in the second quarter valued at approximately $1,006,000. Airain ltd acquired a new stake in shares of Coherent in the second quarter valued at approximately $5,069,000. Finally, Robeco Institutional Asset Management B.V. acquired a new stake in shares of Coherent in the second quarter valued at approximately $406,000. Institutional investors own 90.23% of the company’s stock.

A number of research analysts recently commented on COHR shares. Susquehanna Bancshares Inc reiterated a “neutral” rating and set a $255.00 price objective (up previously from $240.00) on shares of Coherent in a research note on Friday, June 30th. Benchmark Co. reiterated a “buy” rating and set a $295.00 price objective (up previously from $275.00) on shares of Coherent in a research note on Thursday, July 20th. Needham & Company LLC reiterated a “buy” rating and set a $270.00 price objective (up previously from $265.00) on shares of Coherent in a research note on Wednesday, August 2nd. Stifel Nicolaus reiterated a “buy” rating and set a $290.00 price objective (up previously from $270.00) on shares of Coherent in a research note on Friday, June 30th. Finally, BidaskClub lowered shares of Coherent from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, June 14th. Two investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. Coherent currently has an average rating of “Buy” and a consensus target price of $268.88.

Coherent, Inc. (COHR) opened at 245.99 on Tuesday. The company’s 50 day moving average is $232.31 and its 200-day moving average is $225.47. The firm has a market cap of $6.06 billion, a price-to-earnings ratio of 37.04 and a beta of 0.76. Coherent, Inc. has a 1-year low of $100.01 and a 1-year high of $278.39.

Coherent (NASDAQ:COHR) last announced its earnings results on Tuesday, August 1st. The scientific and technical instruments company reported $3.36 earnings per share (EPS) for the quarter, missing the Zacks’ 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 analyst estimates of $466.90 million. During the same quarter in the previous year, the company posted $1.07 earnings per share. Coherent’s revenue for the quarter was up 112.1% on a year-over-year basis. On average, analysts predict that Coherent, Inc. will post $12.27 EPS for the current fiscal year.

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In other news, Director Stephen A. Skaggs sold 500 shares of the company’s stock in a transaction that occurred on Monday, August 14th. The shares were sold at an average price of $217.58, for a total transaction of $108,790.00. Following the transaction, the director now directly owns 11,500 shares in the company, valued at $2,502,170. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 1.40% of the stock is currently owned by corporate insiders.

Coherent 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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Institutional Ownership by Quarter for Coherent (NASDAQ:COHR)

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