Coherent (COHR) : Nwq Investment Management Company reduced its stake in Coherent by 1.23% during the most recent quarter end. The investment management company now holds a total of 1,325,374 shares of Coherent which is valued at $143,935,616 after selling 16,501 shares in Coherent , the firm said in a disclosure report filed with the SEC on Aug 12, 2016.Coherent makes up approximately 2.35% of Nwq Investment Management Company’s portfolio.
Other Hedge Funds, Including , Laurion Capital Management Lp sold out all of its stake in COHR during the most recent quarter. The investment firm sold 4,700 shares of COHR which is valued $510,420.Comerica Bank reduced its stake in COHR by selling 319 shares or 1.3% in the most recent quarter. The Hedge Fund company now holds 24,304 shares of COHR which is valued at $2,639,414. Coherent makes up approx 0.02% of Comerica Bank’s portfolio. Thompson Siegel Walmsley sold out all of its stake in COHR during the most recent quarter. The investment firm sold 46,802 shares of COHR which is valued $4,954,928. Shelton Capital Management added COHR to its portfolio by purchasing 2,681 company shares during the most recent quarter which is valued at $282,819. Coherent makes up approx 0.02% of Shelton Capital Management’s portfolio.
Coherent closed down -0.44 points or -0.41% at $107.26 with 1,47,126 shares getting traded on Monday. Post opening the session at $107.5, the shares hit an intraday low of $106.7 and an intraday high of $108.17 and the price fluctuated in this range throughout the day.Shares ended Monday session in Red.
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 segments primary markets include materials processing OEM components and instrumentation and microelectronics.