Coherent Corp's (NASDAQ:NYSE:COHR) Chief Legal & Compliance Officer, Ronald Basso, has sold 3,000 shares of the company's common stock, according to the latest SEC filing. The transaction, which took place on May 16, 2024, was executed at a price of $59.0 per share, resulting in a total value of $177,000.
The recent sale has adjusted Basso's holdings in the company to a total of 42,090 shares of Coherent Corp's common stock. The details of the transaction were disclosed in a Form 4 filing with the Securities and Exchange Commission.
Investors often monitor insider trades such as this one for insights into the confidence levels that executives have in their company's current operations and future prospects. While the reasons for such transactions can vary widely, they are always a point of interest for the market.
Coherent Corp, headquartered in Saxonburg, Pennsylvania, specializes in optical instruments and lenses and is recognized under the industrial classification code 3827. The company was formerly known as II-VI Inc before changing its name, as noted in its corporate history.
The stock transactions of company insiders are routinely filed with the SEC and are publicly available for investors to review. These filings can provide valuable information, although they do not necessarily signal a change in company strategy or outlook.
For those interested in following the company's stock performance and insider transactions, Coherent Corp trades under the ticker symbol NASDAQ:COHR.
InvestingPro Insights
As Coherent Corp (NASDAQ:COHR) experiences shifts in insider holdings, with Chief Legal & Compliance Officer Ronald Basso's recent stock sale, investors are keenly observing the company's financial health and market performance. The latest data from InvestingPro reveals a mixed financial landscape for Coherent Corp.
An important metric to consider is the company's market capitalization, which currently stands at approximately $6.12 billion. This valuation reflects the market's perception of the company's worth and can influence investor confidence. Additionally, Coherent Corp's price-earnings (P/E) ratio is at 56.98, suggesting that investors are willing to pay a premium for its earnings, potentially due to expectations of future growth.
On the performance front, Coherent Corp has demonstrated significant volatility in its stock price, as indicated by a 60.92% increase over the last six months and a year-to-date price total return of 31.13%. This volatility is a critical factor for investors to consider, as it can impact both short-term trading and long-term investment strategies.
InvestingPro Tips highlight some key points for potential investors. Analysts have revised their earnings upwards for the upcoming period, which could signal optimism about the company's future profitability. Additionally, Coherent Corp is expected to be profitable this year, offering a potential upside for those considering an investment in the company. For investors seeking more in-depth analysis and additional tips, there are 11 more insights available on InvestingPro for Coherent Corp, which can be found at https://www.investing.com/pro/COHR. To access these insights and more, use the coupon code PRONEWS24 to get an additional 10% off a yearly or biyearly Pro and Pro+ subscription.
Understanding the nuances of Coherent Corp's financial data and market performance is essential for investors looking to make informed decisions. The data provided here, combined with the additional InvestingPro Tips, can help investors better gauge the company's current situation and future prospects.
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