Joseph J. Corasanti, a director at Coherent Corp. (NASDAQ:NYSE:COHR), recently reported a significant stock transaction. On November 26, Corasanti sold 9,240 shares of Coherent Corp. common stock. The shares were sold at a weighted average price of approximately $101.29, amounting to a total transaction value of $935,921.
Additionally, Corasanti exercised options to acquire 9,240 shares at a price of $21.67 per share. Following these transactions, Corasanti holds 92,642 shares of Coherent Corp. common stock.
The transactions were disclosed in a Form 4 filing with the Securities and Exchange Commission, providing transparency into insider activities at the company.
In other recent news, Coherent Corp. has reported its first-quarter results for fiscal year 2025 and shared projections for the second quarter. The earnings call, led by CEO Jim Anderson and CFO Sherri Luther, provided an in-depth review of the company's performance and future outlook. While no specific financial misses were mentioned, the company acknowledged potential risks that could cause actual results to differ from projections.
In parallel, Citi has upgraded its outlook on Coherent, rating it as a Buy with a new price target of $136.00. The firm's analysis, led by analyst Papa Sylla, anticipates that Coherent will evolve into a company with over 40% non-GAAP gross margin and an earnings power exceeding $5.00 per share by the fiscal year ending in June 2026.
Other recent developments include the approval of an amended incentive plan and the election of directors at Coherent Corp.'s recent Annual Meeting of Shareholders. The amendment to the Omnibus Incentive Plan, which primarily involves the addition of extra shares available for awards, was approved by shareholders. In the director elections, shareholders voted to appoint James R. Anderson, Michael L. Dreyer, Stephen Pagliuca, Elizabeth A. Patrick, and Howard H. Xia as Class One Directors.
InvestingPro Insights
Recent insider activity at Coherent Corp. (NASDAQ:COHR) aligns with the company's dynamic market performance. According to InvestingPro data, Coherent's stock has shown remarkable strength, with a 178.65% price total return over the past year and a 69.33% return in the last six months. This robust performance is reflected in the stock's current price, which stands at 87.85% of its 52-week high.
InvestingPro Tips highlight that Coherent's stock price movements are quite volatile, which could explain the timing of the insider's decision to sell shares. The company's market capitalization currently stands at $15.63 billion, indicating significant investor interest.
Despite the strong stock performance, it's worth noting that Coherent was not profitable over the last twelve months, with a diluted EPS of -$1.23. However, an InvestingPro Tip suggests that net income is expected to grow this year, and analysts predict the company will turn profitable. This optimism is further supported by the fact that 6 analysts have revised their earnings upwards for the upcoming period.
For investors seeking a more comprehensive analysis, InvestingPro offers 13 additional tips for Coherent Corp., providing a deeper understanding of the company's financial health and market position.
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