Carillon Tower Advisers Inc. Has $147.88 Million Stake in Coherent, Inc. (COHR)

Carillon Tower Advisers Inc. increased its position in Coherent, Inc. (NASDAQ:COHR) by 5.4% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 856,608 shares of the scientific and technical instruments company’s stock after acquiring an additional 43,595 shares during the quarter. Coherent comprises about 1.1% of Carillon Tower Advisers Inc.’s holdings, making the stock its biggest holding. Carillon Tower Advisers Inc. owned 3.53% of Coherent worth $147,882,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. Toronto Dominion Bank lifted its position in Coherent by 326.7% during the second quarter. Toronto Dominion Bank now owns 640 shares of the scientific and technical instruments company’s stock valued at $100,000 after purchasing an additional 490 shares during the last quarter. Itau Unibanco Holding S.A. bought a new stake in Coherent during the second quarter valued at approximately $145,000. Chicago Partners Investment Group LLC lifted its position in Coherent by 814.4% during the second quarter. Chicago Partners Investment Group LLC now owns 1,143 shares of the scientific and technical instruments company’s stock valued at $179,000 after purchasing an additional 1,018 shares during the last quarter. Piedmont Investment Advisors Inc. lifted its position in Coherent by 41,833.3% during the third quarter. Piedmont Investment Advisors Inc. now owns 1,258 shares of the scientific and technical instruments company’s stock valued at $217,000 after purchasing an additional 1,255 shares during the last quarter. Finally, D.A. Davidson & CO. bought a new stake in Coherent during the third quarter valued at approximately $243,000.

Shares of NASDAQ COHR opened at $127.93 on Monday. The company has a current ratio of 3.32, a quick ratio of 2.02 and a debt-to-equity ratio of 0.34. Coherent, Inc. has a 52 week low of $115.53 and a 52 week high of $329.00. The firm has a market capitalization of $3.11 billion, a P/E ratio of 9.77 and a beta of 1.37.

Coherent (NASDAQ:COHR) last issued its earnings results on Tuesday, November 6th. The scientific and technical instruments company reported $3.22 EPS for the quarter, topping the consensus estimate of $2.96 by $0.26. Coherent had a net margin of 13.00% and a return on equity of 25.89%. The company had revenue of $461.50 million for the quarter, compared to the consensus estimate of $460.60 million. During the same period in the previous year, the firm earned $3.72 earnings per share. The firm’s revenue for the quarter was down 5.9% on a year-over-year basis. On average, analysts anticipate that Coherent, Inc. will post 10.37 earnings per share for the current fiscal year.

COHR has been the subject of several research analyst reports. Zacks Investment Research lowered shares of Coherent from a “hold” rating to a “strong sell” rating in a research report on Tuesday, July 31st. ValuEngine upgraded shares of Coherent from a “sell” rating to a “hold” rating in a research report on Tuesday, July 31st. Benchmark reiterated a “buy” rating and set a $216.00 target price (down from $242.00) on shares of Coherent in a research report on Wednesday, August 1st. Needham & Company LLC dropped their target price on shares of Coherent from $205.00 to $190.00 and set a “buy” rating for the company in a research report on Wednesday, August 1st. Finally, Northcoast Research restated a “buy” rating and issued a $217.00 price objective on shares of Coherent in a report on Thursday, August 2nd. Two research analysts have rated the stock with a sell rating, three have given a hold rating and five have assigned a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average price target of $218.00.

In related news, Director Pamela Fletcher sold 458 shares of Coherent stock in a transaction on Friday, November 9th. The shares were sold at an average price of $132.75, for a total value of $60,799.50. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. 0.97% of the stock is owned by insiders.

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About Coherent

Coherent, Inc provides lasers and laser-based technology in a range of scientific, commercial, and industrial applications worldwide. It operates through two segments, Specialty Lasers and Systems, and Commercial Lasers and Components. The company designs, manufactures, services, and markets lasers, laser tools, precision optics, and related accessories.

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Institutional Ownership by Quarter for Coherent (NASDAQ:COHR)

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