UBS Asset Management Americas Inc. Buys 4,047 Shares of Coherent, Inc. (COHR)

UBS Asset Management Americas Inc. lifted its stake in shares of Coherent, Inc. (NASDAQ:COHR) by 30.3% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 17,409 shares of the scientific and technical instruments company’s stock after purchasing an additional 4,047 shares during the period. UBS Asset Management Americas Inc. owned 0.07% of Coherent worth $3,917,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of COHR. Asset Management One Co. Ltd. acquired a new position in shares of Coherent during the 1st quarter worth approximately $170,000. Smithfield Trust Co. acquired a new position in shares of Coherent during the 2nd quarter worth approximately $199,000. Daiwa Securities Group Inc. acquired a new position in shares of Coherent during the 2nd quarter worth approximately $202,000. Symmetry Peak Management LLC acquired a new position in shares of Coherent during the 1st quarter worth approximately $206,000. Finally, WESPAC Advisors LLC acquired a new position in shares of Coherent during the 2nd quarter worth approximately $211,000. Institutional investors and hedge funds own 90.21% of the company’s stock.

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Coherent, Inc. (NASDAQ COHR) opened at 246.57 on Wednesday. The firm has a market capitalization of $6.07 billion, a PE ratio of 37.12 and a beta of 0.78. The company has a 50-day moving average price of $240.63 and a 200-day moving average price of $234.77. Coherent, Inc. has a 12-month low of $100.01 and a 12-month high of $281.00.

Coherent (NASDAQ:COHR) last released its earnings results on Tuesday, August 1st. The scientific and technical instruments company reported $3.36 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $3.45 by ($0.09). The firm had revenue of $464.10 million during the quarter, compared to analysts’ expectations of $466.90 million. Coherent had a return on equity of 24.98% and a net margin of 11.08%. The firm’s revenue was up 112.1% on a year-over-year basis. During the same period in the previous year, the firm posted $1.07 earnings per share. On average, analysts predict that Coherent, Inc. will post $12.28 earnings per share for the current year.

Several research analysts have recently weighed in on COHR shares. Needham & Company LLC restated a “buy” rating and set a $270.00 target price (up from $265.00) on shares of Coherent in a report on Wednesday, August 2nd. Benchmark Co. restated a “buy” rating and set a $290.00 target price (down from $295.00) on shares of Coherent in a report on Tuesday, August 8th. ValuEngine upgraded Coherent from a “hold” rating to a “buy” rating in a report on Wednesday, August 2nd. Zacks Investment Research cut Coherent from a “buy” rating to a “hold” rating in a report on Monday, August 7th. Finally, BidaskClub cut Coherent from a “strong-buy” rating to a “buy” rating in a report on Wednesday, June 14th. One equities research analyst has rated the stock with a hold rating, ten have issued a buy rating and one has given a strong buy rating to the company’s stock. The company presently has an average rating of “Buy” and a consensus price target of $293.22.

In other Coherent news, Director Stephen A. Skaggs sold 500 shares of Coherent stock in a transaction that occurred on Monday, August 14th. The shares were sold at an average price of $217.58, for a total value of $108,790.00. Following the completion of the sale, the director now directly owns 11,500 shares of the company’s stock, valued at approximately $2,502,170. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO John Ambroseo sold 25,000 shares of Coherent stock in a transaction that occurred on Tuesday, September 12th. The stock was sold at an average price of $250.00, for a total transaction of $6,250,000.00. The disclosure for this sale can be found here. 1.40% of the stock is currently owned by insiders.

Coherent 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 C

Several other institutional investors also recently modified their holdings of COHR. Asset Management One Co. Ltd. acquired a new position in shares of Coherent during the 1st quarter worth approximately $170,000. Smithfield Trust Co. acquired a new position in shares of Coherent during the 2nd quarter worth approximately $199,000. Daiwa Securities Group Inc. acquired a new position in shares of Coherent during the 2nd quarter worth approximately $202,000. Symmetry Peak Management LLC acquired a new position in shares of Coherent during the 1st quarter worth approximately $206,000. Finally, WESPAC Advisors LLC acquired a new position in shares of Coherent during the 2nd quarter worth approximately $211,000. Institutional investors and hedge funds own 90.21% of the company’s stock.

COPYRIGHT VIOLATION WARNING: This piece was published by The Ledger Gazette and is the sole property of of The Ledger Gazette. If you are accessing this piece on another website, it was illegally copied and reposted in violation of international trademark & copyright legislation. The correct version of this piece can be accessed at https://ledgergazette.com/2017/10/11/ubs-asset-management-americas-inc-buys-4047-shares-of-coherent-inc-cohr.html.

Coherent, Inc. (NASDAQ COHR) opened at 246.57 on Wednesday. The firm has a market capitalization of $6.07 billion, a PE ratio of 37.12 and a beta of 0.78. The company has a 50-day moving average price of $240.63 and a 200-day moving average price of $234.77. Coherent, Inc. has a 12-month low of $100.01 and a 12-month high of $281.00.

Coherent (NASDAQ:COHR) last released its earnings results on Tuesday, August 1st. The scientific and technical instruments company reported $3.36 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $3.45 by ($0.09). The firm had revenue of $464.10 million during the quarter, compared to analysts’ expectations of $466.90 million. Coherent had a return on equity of 24.98% and a net margin of 11.08%. The firm’s revenue was up 112.1% on a year-over-year basis. During the same period in the previous year, the firm posted $1.07 earnings per share. On average, analysts predict that Coherent, Inc. will post $12.28 earnings per share for the current year.

Several research analysts have recently weighed in on COHR shares. Needham & Company LLC restated a “buy” rating and set a $270.00 target price (up from $265.00) on shares of Coherent in a report on Wednesday, August 2nd. Benchmark Co. restated a “buy” rating and set a $290.00 target price (down from $295.00) on shares of Coherent in a report on Tuesday, August 8th. ValuEngine upgraded Coherent from a “hold” rating to a “buy” rating in a report on Wednesday, August 2nd. Zacks Investment Research cut Coherent from a “buy” rating to a “hold” rating in a report on Monday, August 7th. Finally, BidaskClub cut Coherent from a “strong-buy” rating to a “buy” rating in a report on Wednesday, June 14th. One equities research analyst has rated the stock with a hold rating, ten have issued a buy rating and one has given a strong buy rating to the company’s stock. The company presently has an average rating of “Buy” and a consensus price target of $293.22.

In other Coherent news, Director Stephen A. Skaggs sold 500 shares of Coherent stock in a transaction that occurred on Monday, August 14th. The shares were sold at an average price of $217.58, for a total value of $108,790.00. Following the completion of the sale, the director now directly owns 11,500 shares of the company’s stock, valued at approximately $2,502,170. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO John Ambroseo sold 25,000 shares of Coherent stock in a transaction that occurred on Tuesday, September 12th. The stock was sold at an average price of $250.00, for a total transaction of $6,250,000.00. The disclosure for this sale can be found here. 1.40% of the stock is currently owned by insiders.

Coherent 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).

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Institutional Ownership by Quarter for Coherent (NASDAQ:COHR)

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