Should You Consider Coherent Corp. (COHR) for Investing?

Scout Investments, an affiliate of Carillon Tower Advisers, an investment management company, released its “Carillon Scout Small Cap Fund” third quarter 2022 investor letter. You can download a copy of the same here. The fund underperformed in the quarter relative to its Russell 2000 Growth Index benchmark. Macroeconomic headwinds affected the performance of the fund in the quarter. As per the letter, investors prefer growth stocks to value stocks, as small-cap growth stocks outperformed small-cap value stocks during the quarter. In addition, you can check the top 5 holdings of the fund to know its best picks in 2022.

Carillon Tower Advisers highlighted stocks like Coherent Corp. (NASDAQ:COHR) in its Q3 2022 investor letter. Headquartered in Saxonburg, Pennsylvania, Coherent Corp. (NASDAQ:COHR) is a manufacturer and distributor of semiconductors and optical materials. On December 30, 2022, Coherent Corp. (NASDAQ:COHR) stock closed at $35.10 per share. One-month return of Coherent Corp. (NASDAQ:COHR) was -4.88%, and its shares lost 50.93% 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), previously known as II-VI, designs and manufactures optical and optoelectronic devices for a variety of electronic, communication, and industrial end markets. The company completed its acquisition of Coherent in the quarter. The stock traded poorly as concerns about economic growth led investors to worry about the potential cyclical downturn in semiconductor demand.”

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

We discussed Coherent Corp. (NASDAQ:COHR) in another article and shared Renaissance Investment Management’s 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.