Coherent Corp. (NASDAQ:NYSE:COHR) CEO Vincent Mattera Jr. has sold a portion of his company stock, according to a recent filing with the Securities and Exchange Commission. The transactions, which took place on May 15, 2024, involved the sale of shares totaling over $286,000.
The reported sales were executed under a pre-arranged trading plan, known as a Rule 10b5-1 plan, which was adopted on December 7, 2023. Such plans allow company insiders to sell shares over a predetermined period of time to avoid accusations of trading on non-public information.
Mattera sold 4,495 shares at a weighted average price of $57.272, and an additional 505 shares at an average of $57.8678. The prices for these sales ranged from $56.66 to $58.05. After the transactions, Mattera still holds a significant number of shares, indicating a continued stake in the company's performance and future.
Investors often monitor insider sales as they may provide insights into an executive's perspective on the company's valuation and prospects. However, it's important to note that such sales do not always indicate a lack of confidence in the company; they may be part of personal financial planning or diversification strategies.
Coherent Corp., headquartered in Saxonburg, Pennsylvania, specializes in optical instruments and lenses and has a history of innovation in industrial applications and services. The company's stock is publicly traded and continues to be a part of the dynamic technology sector.
Investors and shareholders can request detailed information about the exact number of shares sold at each price point directly from the company or the SEC, as per the filing's footnotes. This transparency ensures that all market participants have access to the same level of information regarding insider transactions.
InvestingPro Insights
Following the recent insider transactions by Coherent Corp.'s CEO, Vincent Mattera Jr., investors are keeping a close eye on the company's financial health and stock performance. According to real-time data from InvestingPro, Coherent Corp. has a market capitalization of approximately $6.12 billion USD, reflecting the company's standing in the optical instruments sector. Despite a revenue decline of -5.03% over the last twelve months as of Q3 2024, the company's gross profit margin remains solid at 30.37%, indicating efficient cost management relative to sales.
The stock's price movements have been notably volatile, which is a key point for potential investors to consider. This is underscored by the substantial 60.92% price increase over the past six months, as of the same period. Additionally, Coherent Corp. has demonstrated a high return over the last year, with a 106.36% total return, showcasing the stock's impressive performance for investors during that timeframe.
InvestingPro Tips suggest that while analysts have revised their earnings upwards for the upcoming period, they also anticipate a sales decline in the current year. However, they predict the company will be profitable this year, which may be a factor in the CEO's decision to sell shares at this time. With the company not paying dividends, investors may be more focused on capital gains through stock price appreciation.
For those interested in a deeper analysis, InvestingPro offers additional tips on Coherent Corp., which can be accessed at https://www.investing.com/pro/COHR. There are 11 more InvestingPro Tips available, providing valuable insights for informed investment decisions. To enjoy these benefits, use the coupon code PRONEWS24 to get an additional 10% off a yearly or biyearly Pro and Pro+ subscription.
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