Zurcher Kantonalbank Zurich Cantonalbank Grows Holdings in Coherent, Inc. (NASDAQ:COHR)

Zurcher Kantonalbank Zurich Cantonalbank raised its position in Coherent, Inc. (NASDAQ:COHR) by 29.6% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,752 shares of the scientific and technical instruments company’s stock after purchasing an additional 400 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Coherent were worth $239,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in the business. Pictet Asset Management Ltd. lifted its holdings in shares of Coherent by 74.6% during the 1st quarter. Pictet Asset Management Ltd. now owns 614,170 shares of the scientific and technical instruments company’s stock worth $87,040,000 after acquiring an additional 262,497 shares during the period. Norges Bank purchased a new position in shares of Coherent during the 4th quarter worth about $19,264,000. State of New Jersey Common Pension Fund D purchased a new position in shares of Coherent during the 1st quarter worth about $25,510,000. First Trust Advisors LP lifted its holdings in shares of Coherent by 69.2% during the 1st quarter. First Trust Advisors LP now owns 254,250 shares of the scientific and technical instruments company’s stock worth $36,032,000 after acquiring an additional 103,961 shares during the period. Finally, ACK Asset Management LLC purchased a new position in shares of Coherent during the 1st quarter worth about $12,201,000. Institutional investors own 97.19% of the company’s stock.

NASDAQ:COHR traded down $1.74 during trading hours on Tuesday, hitting $152.29. The stock had a trading volume of 17,543 shares, compared to its average volume of 398,791. The company has a current ratio of 3.97, a quick ratio of 2.34 and a debt-to-equity ratio of 0.31. Coherent, Inc. has a 1-year low of $90.10 and a 1-year high of $192.37. The business has a 50 day simple moving average of $137.45 and a two-hundred day simple moving average of $134.95. The company has a market cap of $3.51 billion, a PE ratio of 11.73 and a beta of 1.82.

Coherent (NASDAQ:COHR) last issued its quarterly earnings data on Tuesday, July 30th. The scientific and technical instruments company reported $1.33 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.05 by $0.28. Coherent had a net margin of 8.12% and a return on equity of 13.38%. The company had revenue of $339.17 million during the quarter, compared to the consensus estimate of $348.61 million. During the same quarter last year, the company earned $3.51 earnings per share. Coherent’s revenue for the quarter was down 29.7% on a year-over-year basis. Research analysts expect that Coherent, Inc. will post 4.92 EPS for the current fiscal year.

Several brokerages have recently weighed in on COHR. Benchmark reiterated a “buy” rating and set a $165.00 price objective on shares of Coherent in a report on Wednesday, July 31st. Susquehanna Bancshares lowered shares of Coherent from a “positive” rating to a “neutral” rating and set a $140.00 price objective on the stock. in a report on Monday, April 29th. ValuEngine upgraded shares of Coherent from a “hold” rating to a “buy” rating in a report on Tuesday, August 6th. Zacks Investment Research lowered shares of Coherent from a “hold” rating to a “strong sell” rating in a report on Monday, August 5th. Finally, BidaskClub upgraded shares of Coherent from a “hold” rating to a “buy” rating in a report on Friday, June 28th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and six have given a buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average price target of $159.17.

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.

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Institutional Ownership by Quarter for Coherent (NASDAQ:COHR)

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