Coherent (COHR) : Nwq Investment Management Company reduced its stake in Coherent by 28.0% during the most recent quarter end. The investment management company now holds a total of 954,302 shares of Coherent which is valued at $120,547,429 after selling 371,072 shares in Coherent , the firm said in a disclosure report filed with the SEC on Nov 14, 2016.Coherent makes up approximately 1.69% of Nwq Investment Management Company’s portfolio.
Other Hedge Funds, Including , Amalgamated Bank sold out all of its stake in COHR during the most recent quarter. The investment firm sold 2,795 shares of COHR which is valued $353,064.Swiss National Bank reduced its stake in COHR by selling 1,300 shares or 3.23% in the most recent quarter. The Hedge Fund company now holds 38,988 shares of COHR which is valued at $4,568,224. Coherent makes up approx 0.01% of Swiss National Bank’s portfolio. Central Trust Co added COHR to its portfolio by purchasing 459 company shares during the most recent quarter which is valued at $49,035.
Coherent opened for trading at $129.26 and hit $130.94 on the upside on Monday, eventually ending the session at $130.86, with a gain of 1.36% or 1.76 points. The heightened volatility saw the trading volume jump to 1,32,755 shares. Company has a market cap of $3,183 M.
On the company’s financial health, Coherent reported $1.65 EPS for the quarter, beating the analyst consensus estimate by $ 0.13 according to the earnings call on Nov 2, 2016. Analyst had a consensus of $1.52. The company had revenue of $248.46 million for the quarter, compared to analysts expectations of $240.78 million. The company’s revenue was up 18.5% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.25 EPS.
Many Wall Street Analysts have commented on Coherent. Company shares were Reiterated by The Benchmark Company on Nov 10, 2016 to “Buy”, Firm has raised the Price Target to $ 125 from a previous price target of $112 .Company shares were Reiterated by Needham on Nov 3, 2016 to “Buy”, Firm has raised the Price Target to $ 130 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 segments primary markets include materials processing OEM components and instrumentation and microelectronics.