Posted by admin on Jul 30th, 2022

Truist Financial Corp decreased its stake in shares of Coherent, Inc. (NASDAQ:COHR – Get Rating) by 22.3% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 999 shares of the scientific and technical instruments company’s stock after selling 286 shares during the quarter. Truist Financial Corp’s holdings in Coherent were worth $274,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. SOA Wealth Advisors LLC. bought a new stake in shares of Coherent in the 1st quarter valued at about $109,000. Van ECK Associates Corp bought a new stake in shares of Coherent in the 4th quarter valued at about $156,000. US Asset Management LLC bought a new stake in shares of Coherent in the 1st quarter valued at about $163,000. Janney Montgomery Scott LLC bought a new stake in shares of Coherent in the 4th quarter valued at about $207,000. Finally, Astrantus Ltd bought a new stake in shares of Coherent in the 4th quarter valued at about $213,000. Institutional investors own 90.29% of the company’s stock.

Separately, StockNews.com began coverage on shares of Coherent in a report on Saturday. They issued a “hold” rating for the company.

Shares of Coherent stock opened at $266.22 on Friday. The firm’s 50 day moving average price is $266.70 and its 200-day moving average price is $264.98. The company has a quick ratio of 2.14, a current ratio of 3.32 and a debt-to-equity ratio of 0.43. Coherent, Inc. has a 52-week low of $222.04 and a 52-week high of $278.34. The company has a market cap of $6.61 billion, a P/E ratio of 57.50 and a beta of 1.31.

Coherent (NASDAQ:COHR – Get Rating) last issued its quarterly earnings data on Wednesday, May 11th. The scientific and technical instruments company reported $1.40 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.78 by ($0.38). Coherent had a return on equity of 15.70% and a net margin of 7.47%. The firm had revenue of $370.20 million during the quarter, compared to analysts’ expectations of $388.40 million. On average, sell-side analysts predict that Coherent, Inc. will post 6.6 EPS for the current fiscal year.

Coherent, Inc provides lasers, laser-based technologies, and laser-based system solutions for a range of commercial, industrial, and scientific research applications. It operates in two segments, Original Equipment Manufacturers (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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