Billionaire Richard Chilton is Dumping These 5 Stocks

3. Coherent, Inc. (NASDAQ:COHR)

Number of Hedge Fund Holders: 37

Coherent, Inc. (NASDAQ:COHR) provides lasers, laser-based technologies, and laser-based system solutions for a range of commercial, industrial, and scientific research applications.

Chilton Investment Company’s stake in the company was roughly $695,000 at the end of the second quarter of 2021. Mr. Chilton completely sold his stakes in Coherent, Inc. (NASDAQ:COHR) in the third quarter of 2021.

Out of the 867 elite funds tracked by Insider Monkey, 37 held stakes in Coherent, Inc. (NASDAQ:COHR) by the end of the third quarter of 2021. These stakes amounted to $1.46 billion.

Appleseed Fund published its first-quarter 2021 investor letter, in which the firm mentioned Coherent, Inc. (NASDAQ:COHR). Here’s what the firm had to say:

“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.”