Albion Financial Group Ut adds Coherent (COHR) to its portfolio

Coherent (COHR) : Albion Financial Group Ut added new position in Coherent during the most recent quarter end. The investment management firm now holds 2,475 shares of Coherent which is valued at $234,704 , the company said in a statement filed on Apr 21, 2016 with the SEC.Coherent makes up approximately 0.04% of Albion Financial Group Ut’s portfolio.

Coherent opened for trading at $96.86 and hit $98.08 on the upside on Wednesday, eventually ending the session at $98.02, with a gain of 1.16% or 1.12 points. The heightened volatility saw the trading volume jump to 2,89,998 shares. Company has a market cap of $2,372 M.

Other Hedge Funds, Including , Meritage Portfolio Management reduced its stake in COHR by selling 790 shares or 1.08% in the most recent quarter. The Hedge Fund company now holds 72,058 shares of COHR which is valued at $6,833,260. Coherent makes up approx 0.77% of Meritage Portfolio Management’s portfolio. First Quadrant L Pca added COHR to its portfolio by purchasing 5,200 company shares during the most recent quarter which is valued at $493,116. Coherent makes up approx 0.01% of First Quadrant L Pca’s portfolio. Next Financial Group Inc added COHR to its portfolio by purchasing 333 company shares during the most recent quarter which is valued at $31,578. Coherent makes up approx 0.01% of Next Financial Group Inc’s portfolio.Skylands Capital reduced its stake in COHR by selling 16,300 shares or 58.42% in the most recent quarter. The Hedge Fund company now holds 11,600 shares of COHR which is valued at $1,111,396. Coherent makes up approx 0.18% of Skylands Capital’s portfolio. Integrated Investment Consultants added COHR to its portfolio by purchasing 2,105 company shares during the most recent quarter which is valued at $201,680. Coherent makes up approx 0.11% of Integrated Investment Consultants’s portfolio.

On the company’s financial health, Coherent reported $0.99 EPS for the quarter, beating the analyst consensus estimate by $ 0.10 according to the earnings call on Jan 28, 2016. Analyst had a consensus of $0.89. The company had revenue of $190.30 million for the quarter, compared to analysts expectations of $196.32 million. The company’s revenue was down -5.1 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $0.87 EPS.

Many Wall Street Analysts have commented on Coherent. Company shares were Reiterated by Needham on Mar 17, 2016 to “Buy”, Firm has raised the Price Target to $ 95 from a previous price target of $85 .Company shares were Reiterated by Stifel on Mar 7, 2016 to “Buy”, Firm has raised the Price Target to $ 100 from a previous price target of $82 .Company shares were Reiterated by Stifel on Jan 29, 2016 to “Buy”, Firm has raised the Price Target to $ 82 from a previous price target of $72 .

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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