Neumeier Poma Investment Counsel buys $34.1 Million stake in Coherent (COHR)

Coherent (COHR) : Neumeier Poma Investment Counsel scooped up 97,625 additional shares in Coherent during the most recent quarter end , the firm said in a disclosure report filed with the SEC on May 12, 2016. The investment management firm now holds a total of 398,525 shares of Coherent which is valued at $34.1 Million.Coherent makes up approximately 5.60% of Neumeier Poma Investment Counsel’s portfolio.

Other Hedge Funds, Including , Ubs Asset Management Americas Inc reduced its stake in COHR by selling 4,002 shares or 17.08% in the most recent quarter. The Hedge Fund company now holds 19,425 shares of COHR which is valued at $1.7 Million. Blackrock Japan Ltd added COHR to its portfolio by purchasing 34 company shares during the most recent quarter which is valued at $2,907.Manufacturers Life Insurance Company The reduced its stake in COHR by selling 108 shares or 0.68% in the most recent quarter. The Hedge Fund company now holds 15,827 shares of COHR which is valued at $1.4 Million.Rhumbline Advisers boosted its stake in COHR in the latest quarter, The investment management firm added 3,580 additional shares and now holds a total of 43,789 shares of Coherent which is valued at $3.9 Million. Coherent makes up approx 0.01% of Rhumbline Advisers’s portfolio. Nisa Investment Advisors L.l.c. added COHR to its portfolio by purchasing 300 company shares during the most recent quarter which is valued at $28,020.

Coherent opened for trading at $85.64 and hit $87.69 on the upside on Friday, eventually ending the session at $87.47, with a gain of 2.45% or 2.09 points. The heightened volatility saw the trading volume jump to 2,36,944 shares. Company has a market cap of $2,124,821 M.

On the company’s financial health, Coherent reported $1.04 EPS for the quarter, beating the analyst consensus estimate by $ 0.05 according to the earnings call on Apr 28, 2016. Analyst had a consensus of $0.99. The company had revenue of $199.90 million for the quarter, compared to analysts expectations of $197.44 million. The company’s revenue was down -1.9 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $0.94 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 .

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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