Tocqueville Asset Management L.P. Trims Position in Coherent, Inc. (COHR)

Tocqueville Asset Management L.P. lessened its position in shares of Coherent, Inc. (NASDAQ:COHR) by 1.7% in the third quarter, Holdings Channel reports. The fund owned 57,400 shares of the scientific and technical instruments company’s stock after selling 1,000 shares during the quarter. Tocqueville Asset Management L.P.’s holdings in Coherent were worth $9,884,000 as of its most recent filing with the SEC.

Other institutional investors have also recently bought and sold shares of the company. Toronto Dominion Bank increased its position in Coherent by 326.7% during the second quarter. Toronto Dominion Bank now owns 640 shares of the scientific and technical instruments company’s stock valued at $100,000 after acquiring an additional 490 shares during the last quarter. Focused Wealth Management Inc purchased a new stake in Coherent in the third quarter worth about $115,000. Itau Unibanco Holding S.A. purchased a new stake in Coherent in the second quarter worth about $145,000. Chicago Partners Investment Group LLC increased its position in Coherent by 814.4% in the second quarter. Chicago Partners Investment Group LLC now owns 1,143 shares of the scientific and technical instruments company’s stock worth $179,000 after buying an additional 1,018 shares in the last quarter. Finally, Piedmont Investment Advisors Inc. increased its position in Coherent by 41,833.3% in the third quarter. Piedmont Investment Advisors Inc. now owns 1,258 shares of the scientific and technical instruments company’s stock worth $217,000 after buying an additional 1,255 shares in the last quarter.

A number of brokerages have commented on COHR. ValuEngine upgraded Coherent from a “sell” rating to a “hold” rating in a research report on Monday, September 24th. Zacks Investment Research upgraded Coherent from a “strong sell” rating to a “hold” rating in a research report on Tuesday, September 25th. Longbow Research set a $215.00 price objective on Coherent and gave the stock a “buy” rating in a research note on Thursday, August 23rd. Benchmark reaffirmed a “buy” rating and issued a $216.00 price objective on shares of Coherent in a research note on Thursday, September 13th. Finally, Northcoast Research lowered Coherent from a “buy” rating to a “hold” rating in a research note on Monday, October 8th. Two equities research analysts have rated the stock with a sell rating, three have given a hold rating and six have issued a buy rating to the stock. The stock has an average rating of “Hold” and an average target price of $218.00.

In related news, Director Pamela Fletcher sold 458 shares of the stock in a transaction that occurred on Friday, November 9th. The stock was sold at an average price of $132.75, for a total transaction of $60,799.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 1.40% of the stock is currently owned by corporate insiders.

Shares of Coherent stock opened at $125.03 on Friday. Coherent, Inc. has a 12 month low of $115.53 and a 12 month high of $329.00. The company has a market cap of $3.15 billion, a P/E ratio of 9.59 and a beta of 1.40. The company has a debt-to-equity ratio of 0.32, a current ratio of 3.32 and a quick ratio of 2.02.

Coherent (NASDAQ:COHR) last announced its quarterly earnings results on Tuesday, November 6th. The scientific and technical instruments company reported $3.22 EPS for the quarter, beating analysts’ consensus estimates of $2.96 by $0.26. Coherent had a return on equity of 25.89% and a net margin of 13.00%. The company had revenue of $461.50 million during the quarter, compared to analyst estimates of $460.60 million. During the same period in the prior year, the company earned $3.72 earnings per share. The firm’s revenue was down 5.9% on a year-over-year basis. Research analysts predict that Coherent, Inc. will post 10.37 earnings per share for the current year.

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Coherent Profile

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.

Further Reading: Balance Sheet

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Institutional Ownership by Quarter for Coherent (NASDAQ:COHR)

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