5 Stocks to Sell According to Billionaire Richard Chilton

4. Coherent, Inc. (NASDAQ:COHR)

Number of Hedge Fund Holders: 37

Coherent, Inc. (NASDAQ:COHR) is an information technology company providing lasers, laser-based technologies, and laser-based system solutions. The company’s acquisition by II-VI was confirmed earlier this January. Chilton Investment Company has also entirely sold its stake in the company as of the third quarter, making it one of the stocks to sell according to billionaire Richard Chilton.

For the fiscal fourth quarter of 2021, the company’s EPS was $1.77, and its revenue was $391.6 million.

Out of 867 hedge funds, 37 hedge funds held stakes in Coherent, Inc. (NASDAQ:COHR) in the third quarter, compared to 43 hedge funds in the previous quarter. Their total stake value was $1.5 billion.

Appleseed Fund, an investment management firm, mentioned Coherent, Inc. (NASDAQ:COHR) in its first-quarter 2021 investor letter. Here’s what they said:

“Our most significant contributors to the Fund’s equity performance during the quarter (includes) Coherent (COHR). During the quarter, Coherent announced that it was being acquired, after which several other bidders emerged. Between the takeover announcement and the bidding war among Coherent suitors, the shares rallied strongly during the quarter.”