Gotham Asset Management LLC Invests $458,000 in Coherent, Inc. (COHR)

Gotham Asset Management LLC purchased a new stake in shares of Coherent, Inc. (NASDAQ:COHR) during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund purchased 2,035 shares of the scientific and technical instruments company’s stock, valued at approximately $458,000.

Several other hedge funds and other institutional investors also recently made changes to their positions in the stock. BlackRock Inc. increased its position in shares of Coherent by 124,951.8% during the first quarter. BlackRock Inc. now owns 2,486,029 shares of the scientific and technical instruments company’s stock valued at $511,226,000 after buying an additional 2,484,041 shares during the period. Epoch Investment Partners Inc. increased its position in shares of Coherent by 66.4% during the second quarter. Epoch Investment Partners Inc. now owns 929,623 shares of the scientific and technical instruments company’s stock valued at $209,157,000 after buying an additional 370,993 shares during the period. State Street Corp increased its position in shares of Coherent by 42.3% during the first quarter. State Street Corp now owns 766,435 shares of the scientific and technical instruments company’s stock valued at $157,609,000 after buying an additional 227,897 shares during the period. FMR LLC increased its position in shares of Coherent by 23.2% during the second quarter. FMR LLC now owns 494,053 shares of the scientific and technical instruments company’s stock valued at $111,157,000 after buying an additional 93,014 shares during the period. Finally, KAMES CAPITAL plc increased its position in shares of Coherent by 6.2% during the second quarter. KAMES CAPITAL plc now owns 421,736 shares of the scientific and technical instruments company’s stock valued at $94,840,000 after buying an additional 24,519 shares during the period. Institutional investors own 90.21% of the company’s stock.

In other Coherent news, Director Stephen A. Skaggs sold 500 shares of the firm’s stock in a transaction dated Monday, August 14th. The shares were sold at an average price of $217.58, for a total transaction of $108,790.00. Following the transaction, the director now owns 11,500 shares of the company’s stock, valued at approximately $2,502,170. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO John Ambroseo sold 25,000 shares of the firm’s stock in a transaction dated Tuesday, September 12th. The shares were 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. Company insiders own 1.40% of the company’s stock.

WARNING: “Gotham Asset Management LLC Invests $458,000 in Coherent, Inc. (COHR)” was reported by The Ledger Gazette and is owned by of The Ledger Gazette. If you are viewing this news story on another publication, it was stolen and republished in violation of United States and international trademark and copyright legislation. The correct version of this news story can be viewed at https://ledgergazette.com/2017/10/21/gotham-asset-management-llc-invests-458000-in-coherent-inc-cohr.html.

Shares of Coherent, Inc. (COHR) opened at 261.80 on Friday. The firm has a 50-day moving average of $247.84 and a 200-day moving average of $237.23. The stock has a market cap of $6.45 billion, a PE ratio of 39.42 and a beta of 0.78. Coherent, Inc. has a one year low of $100.01 and a one year high of $281.00.

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

Several equities analysts recently issued reports on the stock. ValuEngine cut shares of Coherent from a “buy” rating to a “hold” rating in a research report on Friday, July 14th. Northcoast Research reiterated a “buy” rating and set a $314.00 price target (up previously from $311.00) on shares of Coherent in a research report on Tuesday, September 12th. Susquehanna Bancshares Inc upgraded shares of Coherent from a 

Several other hedge funds and other institutional investors also recently made changes to their positions in the stock. BlackRock Inc. increased its position in shares of Coherent by 124,951.8% during the first quarter. BlackRock Inc. now owns 2,486,029 shares of the scientific and technical instruments company’s stock valued at $511,226,000 after buying an additional 2,484,041 shares during the period. Epoch Investment Partners Inc. increased its position in shares of Coherent by 66.4% during the second quarter. Epoch Investment Partners Inc. now owns 929,623 shares of the scientific and technical instruments company’s stock valued at $209,157,000 after buying an additional 370,993 shares during the period. State Street Corp increased its position in shares of Coherent by 42.3% during the first quarter. State Street Corp now owns 766,435 shares of the scientific and technical instruments company’s stock valued at $157,609,000 after buying an additional 227,897 shares during the period. FMR LLC increased its position in shares of Coherent by 23.2% during the second quarter. FMR LLC now owns 494,053 shares of the scientific and technical instruments company’s stock valued at $111,157,000 after buying an additional 93,014 shares during the period. Finally, KAMES CAPITAL plc increased its position in shares of Coherent by 6.2% during the second quarter. KAMES CAPITAL plc now owns 421,736 shares of the scientific and technical instruments company’s stock valued at $94,840,000 after buying an additional 24,519 shares during the period. Institutional investors own 90.21% of the company’s stock.

In other Coherent news, Director Stephen A. Skaggs sold 500 shares of the firm’s stock in a transaction dated Monday, August 14th. The shares were sold at an average price of $217.58, for a total transaction of $108,790.00. Following the transaction, the director now owns 11,500 shares of the company’s stock, valued at approximately $2,502,170. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO John Ambroseo sold 25,000 shares of the firm’s stock in a transaction dated Tuesday, September 12th. The shares were 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. Company insiders own 1.40% of the company’s stock.

WARNING: “Gotham Asset Management LLC Invests $458,000 in Coherent, Inc. (COHR)” was reported by The Ledger Gazette and is owned by of The Ledger Gazette. If you are viewing this news story on another publication, it was stolen and republished in violation of United States and international trademark and copyright legislation. The correct version of this news story can be viewed at https://ledgergazette.com/2017/10/21/gotham-asset-management-llc-invests-458000-in-coherent-inc-cohr.html.

Shares of Coherent, Inc. (COHR) opened at 261.80 on Friday. The firm has a 50-day moving average of $247.84 and a 200-day moving average of $237.23. The stock has a market cap of $6.45 billion, a PE ratio of 39.42 and a beta of 0.78. Coherent, Inc. has a one year low of $100.01 and a one year high of $281.00.

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

Several equities analysts recently issued reports on the stock. ValuEngine cut shares of Coherent from a “buy” rating to a “hold” rating in a research report on Friday, July 14th. Northcoast Research reiterated a “buy” rating and set a $314.00 price target (up previously from $311.00) on shares of Coherent in a research report on Tuesday, September 12th. Susquehanna Bancshares Inc upgraded shares of Coherent from a “neutral” rating to a “positive” rating and boosted their price target for the company from $255.00 to $275.00 in a research report on Thursday, August 3rd. Longbow Research reiterated a “buy” rating and set a $325.00 price target on shares of Coherent in a research report on Wednesday, June 28th. Finally, Stifel Nicolaus reiterated a “buy” rating and set a $290.00 price target on shares of Coherent in a research report on Wednesday, September 13th. One analyst has rated the stock with a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the stock. The stock currently has a consensus rating of “Buy” and a consensus target price of $293.22.

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).

Institutional Ownership by Quarter for Coherent (NASDAQ:COHR)

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