Coherent Corp (NASDAQ:NYSE:COHR) director Howard H. Xia engaged in transactions involving the company's common stock on May 23, according to a recent SEC filing. The director sold a total of 2,000 shares, realizing over $120,000 from the sales.
The transactions included both acquisitions and disposals of Coherent Corp's common stock. Xia acquired 2,000 shares at a price of $13.99 each, totaling approximately $27,980. On the same day, he sold an equal number of shares, with prices ranging from $60.83 to $61.00 per share, amounting to a total of $121,830.
Following these transactions, Xia's ownership in Coherent Corp adjusted to 44,916 shares of common stock. The filing did not disclose any specific reason for these transactions, which are common among corporate executives and can be based on various personal financial strategies.
Investors often monitor insider transactions as they can provide insights into executives' perspectives on the company's current valuation and future prospects. However, it is important to consider that such transactions do not necessarily signal a change in company fundamentals.
Coherent Corp, with its headquarters in Saxonburg, Pennsylvania, specializes in optical instruments and lenses, catering to industrial applications and services. The company, formerly known as II-VI Incorporated, has continued to make strides in its field, as reflected in its market activities and corporate developments.
Shareholders and potential investors can stay informed about Coherent Corp's insider transactions and other corporate announcements by reviewing SEC filings and company press releases.
InvestingPro Insights
In the wake of recent insider transactions at Coherent Corp (NASDAQ:COHR), investors may be curious about the company's financial health and market performance. According to InvestingPro data, Coherent Corp boasts a market capitalization of approximately $8.7 billion. Despite some challenges, the company has shown resilience with a gross profit margin of 30.37% over the last twelve months as of Q3 2024. This margin highlights the company's ability to maintain profitability in the face of revenue fluctuations, which have seen a slight decline of 5.03% during the same period.
InvestingPro Tips indicate that analysts are taking note of Coherent Corp's potential, with 13 analysts revising their earnings upwards for the upcoming period. This optimism is further supported by the company's stock price movements, which have been quite volatile, yet resulted in a high return over the last year, with a 78.82% one-year price total return as of the latest data.
For those considering an investment in Coherent Corp, it's worth noting that the company's liquid assets exceed its short-term obligations, which suggests a strong liquidity position. Additionally, while analysts anticipate a sales decline in the current year, they predict the company will be profitable this year, which could be a signal of a turnaround in financial performance.
Interested investors looking for more insights can find additional InvestingPro Tips on Coherent Corp at https://www.investing.com/pro/COHR, and by using the coupon code PRONEWS24, they can get an additional 10% off a yearly or biyearly Pro and Pro+ subscription. With a total of 12 tips listed on InvestingPro, investors have access to a wealth of information to guide their investment decisions.
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