Millennium Management LLC Invests $2.61 Million in Coherent, Inc. (COHR) Stock

Millennium Management LLC acquired a new position in shares of Coherent, Inc. (NASDAQ:COHR) in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor acquired 24,659 shares of the scientific and technical instruments company’s stock, valued at approximately $2,607,000. Millennium Management LLC owned about 0.10% of Coherent as of its most recent filing with the SEC.

Other institutional investors have also recently made changes to their positions in the company. Macquarie Group Ltd. grew its stake in Coherent by 59.4% in the 4th quarter. Macquarie Group Ltd. now owns 227,387 shares of the scientific and technical instruments company’s stock valued at $24,037,000 after acquiring an additional 84,776 shares during the last quarter. Legal & General Group Plc boosted its stake in shares of Coherent by 2.2% during the 4th quarter. Legal & General Group Plc now owns 27,012 shares of the scientific and technical instruments company’s stock worth $2,855,000 after purchasing an additional 579 shares during the last quarter. Thrivent Financial for Lutherans boosted its stake in shares of Coherent by 3.0% during the 4th quarter. Thrivent Financial for Lutherans now owns 6,173 shares of the scientific and technical instruments company’s stock worth $653,000 after purchasing an additional 181 shares during the last quarter. Jane Street Group LLC boosted its stake in shares of Coherent by 387.6% during the 4th quarter. Jane Street Group LLC now owns 13,654 shares of the scientific and technical instruments company’s stock worth $1,444,000 after purchasing an additional 10,854 shares during the last quarter. Finally, Amundi Pioneer Asset Management Inc. acquired a new stake in shares of Coherent during the 4th quarter worth about $334,000. Institutional investors own 96.43% of the company’s stock.

Several equities research analysts have issued reports on the stock. Zacks Investment Research raised shares of Coherent from a “strong sell” rating to a “hold” rating in a research note on Tuesday, April 2nd. TheStreet raised shares of Coherent from a “c+” rating to a “b-” rating in a research note on Thursday, March 21st. BidaskClub raised shares of Coherent from a “hold” rating to a “buy” rating in a research note on Thursday, February 14th. Benchmark reaffirmed a “buy” rating and set a $162.00 price target (down from $212.00) on shares of Coherent in a research note on Wednesday, January 30th. Finally, Needham & Company LLC cut shares of Coherent from a “buy” rating to a “hold” rating in a research note on Wednesday, January 30th. One investment analyst has rated the stock with a sell rating, six have given a hold rating and five have given a buy rating to the stock. The company presently has an average rating of “Hold” and an average target price of $175.71.

Shares of COHR stock opened at $156.47 on Monday. The stock has a market cap of $3.81 billion, a PE ratio of 12.00 and a beta of 1.59. Coherent, Inc. has a 1-year low of $90.10 and a 1-year high of $192.37. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.95 and a current ratio of 3.26.

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

COPYRIGHT VIOLATION NOTICE: “Millennium Management LLC Invests $2.61 Million in Coherent, Inc. (COHR) Stock” was originally published by Baseball Daily News and is owned by of Baseball Daily News. If you are viewing this report on another website, it was stolen and republished in violation of US and international copyright laws. The legal version of this report can be viewed at https://www.baseballdailydigest.com/news/2019/04/22/millennium-management-llc-invests-2-61-million-in-coherent-inc-cohr-stock.html.

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.

Featured Story: Why do companies engage in swaps?

Institutional Ownership by Quarter for Coherent (NASDAQ:COHR)

Receive News & Ratings for Coherent Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Coherent and related companies with MarketBeat.com's FREE daily email newsletter.