Lombard Odier Asset Management USA Corp Purchases New Stake in Coherent, Inc. (NASDAQ:COHR)

Lombard Odier Asset Management USA Corp purchased a new stake in Coherent, Inc. (NASDAQ:COHR) in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 11,700 shares of the scientific and technical instruments company’s stock, valued at approximately $2,959,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. Utah Retirement Systems acquired a new stake in Coherent in the 1st quarter valued at $322,000. Voloridge Investment Management LLC purchased a new position in Coherent during the 1st quarter worth $2,325,000. Eaton Vance Management purchased a new position in Coherent during the 1st quarter worth $33,000. Morgan Stanley boosted its holdings in Coherent by 308.1% during the 1st quarter. Morgan Stanley now owns 142,980 shares of the scientific and technical instruments company’s stock worth $36,159,000 after acquiring an additional 107,945 shares during the last quarter. Finally, Tudor Investment Corp Et Al boosted its holdings in Coherent by 250.6% during the 1st quarter. Tudor Investment Corp Et Al now owns 46,883 shares of the scientific and technical instruments company’s stock worth $11,856,000 after acquiring an additional 33,509 shares during the last quarter. 89.72% of the stock is owned by institutional investors and hedge funds.

A number of equities analysts have issued reports on the stock. Barclays initiated coverage on shares of Coherent in a report on Tuesday, May 18th. They set an “equal weight” rating on the stock. Zacks Investment Research upgraded Coherent from a “sell” rating to a “hold” rating in a research note on Tuesday, July 13th. Eight investment analysts have rated the stock with a hold rating, Coherent has a consensus rating of “Hold” and a consensus price target of $196.00.

Coherent stock traded down $1.63 during midday trading on Thursday, reaching $258.51. The stock had a trading volume of 379 shares, compared to its average volume of 221,441. The business has a 50-day moving average of $261.54. Coherent, Inc. has a 12 month low of $103.00 and a 12 month high of $270.99. The firm has a market cap of $6.34 billion, a price-to-earnings ratio of -39.90 and a beta of 1.63. The company has a debt-to-equity ratio of 0.52, a current ratio of 3.19 and a quick ratio of 2.05.

Coherent (NASDAQ:COHR) last announced its quarterly earnings results on Wednesday, May 12th. The scientific and technical instruments company reported $1.42 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.14 by $0.28. Coherent had a positive return on equity of 6.24% and a negative net margin of 12.10%. The firm had revenue of $374.00 million for the quarter, compared to analysts’ expectations of $330.76 million. During the same period in the prior year, the business posted $0.61 earnings per share. The company’s revenue was up 27.6% on a year-over-year basis. On average, equities research analysts anticipate that Coherent, Inc. will post 4.78 earnings per share for the current fiscal year.

Coherent Profile

Coherent, Inc engages in the design, manufacture, and service of lasers and related accessories. It operates through the following business segments: OEM Laser Sources (OLS), and Industrial Lasers and Systems (ILS). The OLS segment focuses on laser sources and complex optical sub-systems, typically used in microelectronics manufacturing, medical diagnostics, and therapeutic medical applications.

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Institutional Ownership by Quarter for Coherent (NASDAQ:COHR)

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