Thrivent Financial for Lutherans raised its holdings in Coherent, Inc. (NASDAQ:COHR) by 3.0% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 6,173 shares of the scientific and technical instruments company’s stock after buying an additional 181 shares during the quarter. Thrivent Financial for Lutherans’ holdings in Coherent were worth $653,000 at the end of the most recent quarter.
Several other hedge funds have also modified their holdings of the company. AlphaOne Investment Services LLC raised its stake in Coherent by 54.9% during the fourth quarter. AlphaOne Investment Services LLC now owns 395 shares of the scientific and technical instruments company’s stock valued at $42,000 after buying an additional 140 shares during the last quarter. AdvisorNet Financial Inc raised its stake in Coherent by 40.7% during the fourth quarter. AdvisorNet Financial Inc now owns 1,075 shares of the scientific and technical instruments company’s stock valued at $114,000 after buying an additional 311 shares during the last quarter. NEXT Financial Group Inc purchased a new position in Coherent during the fourth quarter valued at $173,000. Meristem Family Wealth LLC purchased a new position in Coherent during the third quarter valued at $201,000. Finally, Piedmont Investment Advisors Inc. raised its stake in shares of Coherent by 51.2% in the fourth quarter. Piedmont Investment Advisors Inc. now owns 1,902 shares of the scientific and technical instruments company’s stock worth $201,000 after purchasing an additional 644 shares during the last quarter. Hedge funds and other institutional investors own 96.43% of the company’s stock.
Shares of COHR traded up $13.44 during trading hours on Friday, hitting $155.49. The stock had a trading volume of 771,094 shares, compared to its average volume of 378,680. The company has a debt-to-equity ratio of 0.31, a current ratio of 3.26 and a quick ratio of 1.95. Coherent, Inc. has a 12 month low of $90.10 and a 12 month high of $192.37. The firm has a market capitalization of $3.78 billion, a P/E ratio of 11.92 and a beta of 1.58.
COHR has been the subject of several recent analyst reports. Susquehanna Bancshares cut Coherent from a “positive” rating to a “neutral” rating and set a $140.00 price target for the company. in a research note on Monday, April 29th. Zacks Investment Research cut Coherent from a “hold” rating to a “strong sell” rating in a research note on Monday, February 4th. TheStreet upgraded Coherent from a “c+” rating to a “b-” rating in a research note on Thursday, March 21st. BidaskClub upgraded Coherent from a “hold” rating to a “buy” rating in a research note on Thursday, February 14th. Finally, Barclays cut Coherent from an “overweight” rating to an “equal weight” rating and decreased their price target for the stock from $162.00 to $125.00 in a research note on Thursday, January 17th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and five have assigned a buy rating to the company. Coherent currently has an average rating of “Hold” and an average price target of $169.88.
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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.
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