Coherent Corp (NASDAQ:NYSE:COHR) Director Howard H. Xia engaged in multiple transactions involving the company's stock on May 15 and May 16, as per the latest SEC filings. The transactions included both acquisitions and disposals of Coherent's common stock.
On May 15 and May 16, Xia sold a total of 2,000 shares of Coherent stock at prices ranging from $58.00 to $59.00 per share, resulting in total proceeds of $117,000. These sales followed the exercise of options to acquire the same number of shares at a price of $13.99 per share. Post-transaction, Xia's holdings in the company decreased to 44,916 shares of common stock.
The transactions demonstrate active trading by a key insider within the company, providing the market with signals about executive confidence and potential future performance. Investors often monitor such insider activities to gain insights into the company's health and strategic direction.
Coherent Corp, with a standard industrial classification in optical instruments & lenses, is incorporated in Pennsylvania and has its business address at 375 Saxonburg Blvd, Saxonburg, PA. The company's fiscal year ends on June 30.
InvestingPro Insights
Coherent Corp (NASDAQ:COHR) has seen notable insider trading activity recently, with Director Howard H. Xia's transactions drawing attention. To further understand the company's financial health and market position, let's delve into some key metrics and insights from InvestingPro.
InvestingPro Data reveals that Coherent Corp currently has a market capitalization of $6.12 billion USD. Despite a challenging environment indicated by a revenue decline of 5.03% in the last twelve months as of Q3 2024, the company has managed to maintain a gross profit margin of 30.37%. The stock has experienced significant price movements, with a high return of 97.59% over the past year, reflecting its volatility and the market's positive response to certain developments within the company.
Two InvestingPro Tips that stand out for Coherent Corp are the analysts' upward revisions of earnings for the upcoming period and the strong return over the last month, with a 12.58% increase in the stock price. This suggests that despite the revenue challenges, market sentiment may be shifting positively, potentially due to anticipated improvements in performance.
For those interested in a deeper analysis, InvestingPro offers an additional 13 tips on Coherent Corp, which can provide more comprehensive insights into the company's prospects. To explore these further, visit https://www.investing.com/pro/COHR and remember to use the coupon code PRONEWS24 to get an additional 10% off a yearly or biyearly Pro and Pro+ subscription.
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