Lorem Ipsum Management adds Coherent (COHR) to its portfolio

Coherent (COHR) : Lorem Ipsum Management added new position in Coherent during the most recent quarter end. The investment management firm now holds 12,500 shares of Coherent which is valued at $1,357,500 , the company said in a statement filed on Aug 10, 2016 with the SEC.Coherent makes up approximately 5.43% of Lorem Ipsum Management’s portfolio.

Other Hedge Funds, Including , Blackrock Group Ltd boosted its stake in COHR in the latest quarter, The investment management firm added 51 additional shares and now holds a total of 42,561 shares of Coherent which is valued at $4,622,125. Mufg Americas Holdings Corp added COHR to its portfolio by purchasing 413 company shares during the most recent quarter which is valued at $45,095. Lsv Asset Management sold out all of its stake in COHR during the most recent quarter. The investment firm sold 1,900 shares of COHR which is valued $201,153.Mutual Of America Capital Management reduced its stake in COHR by selling 250 shares or 35.71% in the most recent quarter. The Hedge Fund company now holds 450 shares of COHR which is valued at $47,471. Chicago Equity Partners sold out all of its stake in COHR during the most recent quarter. The investment firm sold 13,870 shares of COHR which is valued $1,470,914.

Coherent opened for trading at $109.28 and hit $112.0899 on the upside on Friday, eventually ending the session at $111.45, with a gain of 1.73% or 1.9 points. The heightened volatility saw the trading volume jump to 2,39,058 shares. Company has a market cap of $2,711 M.

On the company’s financial health, Coherent reported $1.07 EPS for the quarter, missing the analyst consensus estimate by $ -0.04 based on the information available during the earnings call on Jul 27, 2016. Analyst had a consensus of $1.11. The company had revenue of $218.80 million for the quarter, compared to analysts expectations of $211.94 million. The company’s revenue was up 16.1% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.82 EPS.

Many Wall Street Analysts have commented on Coherent. Shares were Reiterated by The Benchmark Company on Jul 28, 2016 to “Buy” and Lowered the Price Target to $ 112 from a previous price target of $115 .Company shares were Reiterated by Stifel on Jul 28, 2016 to “Buy”, Firm has raised the Price Target to $ 120 from a previous price target of $115 .Company shares were Reiterated by The Benchmark Company on May 23, 2016 to “Buy”, Firm has raised the Price Target to $ 115 from a previous price target of $110 .

Coherent Inc. is a supplier of photonics-based solutions for a range of commercial and scientific research applications. The Company designs manufactures services and markets lasers and related accessories to customers. The Company operates in two segments: Specialty Lasers and Systems (SLS) and Commercial Lasers and Components (CLC). The SLS segment develops and manufactures configurable products serving the microelectronics scientific research and government programs and original equipment manufacturer (OEM) components and instrumentation markets. The CLC segment’s primary markets include materials processing OEM components and instrumentation and microelectronics.

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