Value Holdings Lp Lowers stake in Coherent (COHR)

Coherent (COHR) : Value Holdings Lp reduced its stake in Coherent by 2.95% during the most recent quarter end. The investment management company now holds a total of 98,673 shares of Coherent which is valued at $10,409,015 after selling 3,000 shares in Coherent , the firm said in a disclosure report filed with the SEC on Aug 1, 2016.Coherent makes up approximately 6.53% of Value Holdings Lp’s portfolio.

Other Hedge Funds, Including , California State Teachers Retirement System boosted its stake in COHR in the latest quarter, The investment management firm added 250 additional shares and now holds a total of 50,863 shares of Coherent which is valued at $5,365,538. Coherent makes up approx 0.01% of California State Teachers Retirement System’s portfolio. Parametrica Management Ltd added COHR to its portfolio by purchasing 5,608 company shares during the most recent quarter which is valued at $540,836. Coherent makes up approx 0.77% of Parametrica Management Ltd’s portfolio.Integrated Investment Consultants reduced its stake in COHR by selling 2 shares or 0.1% in the most recent quarter. The Hedge Fund company now holds 2,103 shares of COHR which is valued at $188,071. Coherent makes up approx 0.10% of Integrated Investment Consultants’s portfolio.

Coherent opened for trading at $105.63 and hit $106.2 on the upside on Thursday, eventually ending the session at $106.07, with a gain of 0.55% or 0.58 points. The heightened volatility saw the trading volume jump to 1,94,430 shares. Company has a market cap of $2,577 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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