Neumeier Poma Investment Counsel Lowers stake in Coherent (COHR)

Coherent (COHR) : Neumeier Poma Investment Counsel reduced its stake in Coherent by 28.02% during the most recent quarter end. The investment management company now holds a total of 286,845 shares of Coherent which is valued at $31,151,367 after selling 111,680 shares in Coherent , the firm said in a disclosure report filed with the SEC on Aug 11, 2016.Coherent makes up approximately 4.67% of Neumeier Poma Investment Counsel’s portfolio.

Other Hedge Funds, Including , Axiom International Investors De reduced its stake in COHR by selling 10,867 shares or 35.8% in the most recent quarter. The Hedge Fund company now holds 19,491 shares of COHR which is valued at $2,116,723. Coherent makes up approx 0.06% of Axiom International Investors De’s portfolio.New York State Teachers Retirement System reduced its stake in COHR by selling 700 shares or 4.59% in the most recent quarter. The Hedge Fund company now holds 14,544 shares of COHR which is valued at $1,402,623. Arcadia Investment Management Corpmi added COHR to its portfolio by purchasing 266 company shares during the most recent quarter which is valued at $25,206. Coherent makes up approx 0.01% of Arcadia Investment Management Corpmi’s portfolio.

Coherent opened for trading at $110.64 and hit $111.7999 on the upside on Tuesday, eventually ending the session at $110.98, with a gain of 0.19% or 0.21 points. The heightened volatility saw the trading volume jump to 1,34,619 shares. Company has a market cap of $2,699 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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