Coherent Corp. (NASDAQ:NYSE:COHR) President Walter Robert Bashaw II has recently sold a total of 18,195 shares of the company's common stock, according to the latest SEC filings. The transactions, which took place on June 3, 2024, resulted in Bashaw receiving a total of approximately $1,332,166.
The sales were conducted at prices ranging from $67.3752 to $70.00 per share. The higher end of this range was the weighted average for a portion of the sales, with the exact number of shares sold at each price available upon request from the SEC, the company, or a shareholder of the company. These sales were executed in accordance with a pre-arranged Rule 10b5-1 trading plan, which Bashaw had adopted on December 14, 2023.
On the same day, Bashaw also acquired 14,820 shares of Coherent Corp. common stock at a price of $27.00 per share, which amounted to a total of $400,140. This transaction was related to the exercise of options that vest in four equal annual installments starting from November 5, 2017.
Following these transactions, Bashaw's direct ownership in the company stands at 99,659 shares. Additionally, there are holdings of 80 shares owned indirectly by his children and 1,400 shares by his spouse.
These latest transactions provide insight into the trading activities of Coherent Corp's executives and may be of interest to current and potential investors. The company, which is incorporated in Pennsylvania, specializes in optical instruments and lenses and operates under the Industrial Applications and Services sector.
InvestingPro Insights
In light of the recent stock transactions by Coherent Corp. (NASDAQ:COHR) President Walter Robert Bashaw II, investors may be seeking a broader understanding of the company's financial health and market performance. Here are some insights based on real-time data and analytics from InvestingPro:
InvestingPro Data:
- Market Cap (Adjusted): 10.69B USD
- P/E Ratio: 56.98, indicating a premium valuation relative to earnings.
- 1 Year Price Total Return as of mid-2024: 79.84%, reflecting a strong performance over the past year.
InvestingPro Tips:
- Analysts have revised their earnings upwards for the upcoming period, suggesting potential optimism about the company's future performance.
- The stock's RSI indicates it is in overbought territory, which may influence investor decisions regarding entry or exit points.
For those interested in a deeper analysis, there are additional InvestingPro Tips available at https://www.investing.com/pro/COHR. For instance, while the company has experienced a high return over the last year, analysts anticipate a sales decline in the current year. Moreover, the significant return over the last week aligns with the recent insider trading activity, which could be an indicator of market sentiment.
To gain full access to all the expert insights, consider subscribing to InvestingPro. Use the exclusive coupon code PRONEWS24 to get an additional 10% off a yearly or biyearly Pro and Pro+ subscription. There are 16 additional InvestingPro Tips that could help you make more informed decisions about your investment in Coherent Corp.
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