Eagle Asset Management Inc buys $178,423,055 stake in Coherent (COHR)

Coherent (COHR) : Eagle Asset Management Inc scooped up 193,103 additional shares in Coherent during the most recent quarter end , the firm said in a disclosure report filed with the SEC on Oct 12, 2016. The investment management firm now holds a total of 1,613,812 shares of Coherent which is valued at $178,423,055.Coherent makes up approximately 1.23% of Eagle Asset Management Inc’s portfolio.

Other Hedge Funds, Including , Legal General Group Plc boosted its stake in COHR in the latest quarter, The investment management firm added 16,968 additional shares and now holds a total of 22,368 shares of Coherent which is valued at $2,473,006.Cupps Capital Management boosted its stake in COHR in the latest quarter, The investment management firm added 52 additional shares and now holds a total of 20,007 shares of Coherent which is valued at $2,241,784. Coherent makes up approx 0.97% of Cupps Capital Management’s portfolio.First Mercantile Trust Co reduced its stake in COHR by selling 389 shares or 11.79% in the most recent quarter. The Hedge Fund company now holds 2,911 shares of COHR which is valued at $323,441. Coherent makes up approx 0.04% of First Mercantile Trust Co’s portfolio.Bnp Paribas Arbitrage Sa reduced its stake in COHR by selling 3,881 shares or 47.14% in the most recent quarter. The Hedge Fund company now holds 4,352 shares of COHR which is valued at $474,194.Independent Portfolio Consultants reduced its stake in COHR by selling 2,790 shares or 30.58% in the most recent quarter. The Hedge Fund company now holds 6,335 shares of COHR which is valued at $690,262. Coherent makes up approx 0.22% of Independent Portfolio Consultants’s portfolio.

Coherent closed down -1.49 points or -1.33% at $110.56 with 1,32,857 shares getting traded on Tuesday. Post opening the session at $111.98, the shares hit an intraday low of $109.37 and an intraday high of $111.98 and the price fluctuated in this range throughout the day.Shares ended Tuesday 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 .

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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