Hood River Capital Management LLC Acquires 5,224 Shares of Coherent, Inc. (COHR)

Hood River Capital Management LLC grew its position in Coherent, Inc. (NASDAQ:COHR) by 2.8% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 189,848 shares of the scientific and technical instruments company’s stock after acquiring an additional 5,224 shares during the quarter. Coherent comprises about 2.8% of Hood River Capital Management LLC’s portfolio, making the stock its 5th largest position. Hood River Capital Management LLC owned 0.77% of Coherent worth $44,647,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Smithfield Trust Co. purchased a new stake in shares of Coherent in the second quarter valued at $199,000. Daiwa Securities Group Inc. purchased a new stake in shares of Coherent in the second quarter valued at $202,000. WESPAC Advisors LLC purchased a new stake in shares of Coherent in the second quarter valued at $211,000. Penserra Capital Management LLC raised its stake in shares of Coherent by 4.2% in the second quarter. Penserra Capital Management LLC now owns 5,791 shares of the scientific and technical instruments company’s stock valued at $224,000 after acquiring an additional 234 shares during the period. Finally, Coldstream Capital Management Inc. raised its stake in shares of 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 acquiring an additional 30 shares during the period. 91.57% of the stock is currently owned by institutional investors and hedge funds.

In other Coherent news, CEO John Ambroseo sold 25,000 shares of the stock in a transaction dated Tuesday, September 12th. The shares were sold at an average price of $250.00, for a total transaction of $6,250,000.00. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, VP Bret Dimarco sold 5,819 shares of the stock in a transaction dated Thursday, November 9th. The stock was sold at an average price of $294.75, for a total transaction of $1,715,150.25. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 36,914 shares of company stock worth $9,768,670. 1.40% of the stock is owned by company insiders.

Several research firms recently commented on COHR. Needham & Company LLC reaffirmed a “buy” rating and issued a $270.00 price target (up previously from $265.00) on shares of Coherent in a research note on Wednesday, August 2nd. Benchmark Co. reaffirmed a “buy” rating and issued a $290.00 price target (down previously from $295.00) on shares of Coherent in a research note on Tuesday, August 8th. Zacks Investment Research downgraded shares of Coherent from a “buy” rating to a “hold” rating in a research note on Monday, August 7th. ValuEngine raised shares of Coherent from a “hold” rating to a “buy” rating in a research note on Wednesday, August 2nd. Finally, UBS AG raised shares of Coherent from a “neutral” rating to a “positive” rating in a research note on Thursday, August 3rd. One research analyst has rated the stock with a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the stock. The company has a consensus rating of “Buy” and an average price target of $309.89.

Shares of Coherent, Inc. (NASDAQ COHR) traded up $3.34 during trading on Thursday, reaching $306.08. 165,054 shares of the company’s stock traded hands, compared to its average volume of 447,707. The company has a current ratio of 3.13, a quick ratio of 2.14 and a debt-to-equity ratio of 0.61. Coherent, Inc. has a one year low of $124.94 and a one year high of $314.76. The company has a market cap of $7,460.00, a PE ratio of 25.24 and a beta of 0.79.

Coherent (NASDAQ:COHR) last issued its earnings results on Tuesday, November 7th. The scientific and technical instruments company reported $3.72 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ 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 company had revenue of $490.00 million for the quarter, compared to analysts’ expectations of $475.24 million. During the same period in the prior year, the business earned $1.65 EPS. The firm’s quarterly revenue was up 97.2% on a year-over-year basis. research analysts predict that Coherent, Inc. will post 15.56 earnings per share 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).

Institutional Ownership by Quarter for Coherent (NASDAQ:COHR)

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