Is Coherent Corp. (COHR) a Safe Investment?

Carillon Tower Advisers, an investment management company, released its “Carillon Eagle Small Cap Growth Fund” third quarter 2022 investor letter. A copy of the same can be downloaded here. The fund delivered negative returns in the third quarter. The portfolio recorded impressive gains at the beginning of the quarter. In contrast, there was a disappointing selloff at the end of the quarter. The Russell 2000 Growth Index was 0.26% up compared to a 4.60% decline for its counterpart, the Russell 2000 Value Index. In addition, you can check the top 5 holdings of the fund to know its best picks in 2022.

In the third-quarter letter, Carillon Tower Advisers discussed stocks like Coherent Corp. (NASDAQ:COHR). Headquartered in Saxonburg, Pennsylvania, Coherent Corp. (NASDAQ:COHR) is a manufacturer and distributor of semiconductors and optical materials. On October 27, 2022, Coherent Corp. (NASDAQ:COHR) stock closed at $33.45 per share. One-month return of Coherent Corp. (NASDAQ:COHR) was -4.02% and its shares lost 44.72% of their value over the last 52 weeks.

Carillon Tower Advisers made the following comment about Coherent Corp. (NASDAQ:COHR) in its Q3 2022 investor letter:

“Coherent Corp. (NASDAQ:COHR), formerly known as II-VI, is a diversified technology company that provides optical components for telecommunications infrastructure products used in data centers and next-generation 5G networks. The stock pulled back due to macroeconomic concerns as well as due to its variable debt exposure, given the rising interest rate environment. However, the company’s management team remains committed to realizing acquisition synergies and paying down debt quickly, and has hedged nearly half of its interest rate exposure.”

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Coherent Corp. (NASDAQ:COHR) is not on our list of 30 Most Popular Stocks Among Hedge Funds. As per our database, 33 hedge fund portfolios held Coherent Corp. (NASDAQ:COHR) at the end of the second quarter which was 36 in the previous quarter.

We discussed Coherent Corp. (NASDAQ:COHR) in another article and shared Carillon Tower Advisers’ views on the company. In addition, please check out our hedge fund investor letters Q3 2022 page for more investor letters from hedge funds and other leading investors.

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Disclosure: None. This article is originally published at Insider Monkey.