In a recent transaction, James Robert Anderson, CEO and President of Coherent Corp. (NASDAQ:NYSE:COHR), acquired 500 shares of the company's common stock. The purchase took place on December 2, 2024, at a price of $102.72 per share, totaling $51,360. Following this acquisition, Anderson's direct ownership in Coherent Corp. increased to 149,214 shares. The timing appears strategic, as COHR has demonstrated remarkable performance with a 162% return over the past year and maintains a healthy current ratio of 2.67.
This transaction highlights Anderson's continued investment in Coherent Corp., a company known for its expertise in optical instruments and lenses. With a market capitalization of $15.49 billion and analyst price targets ranging from $60 to $136, InvestingPro analysis indicates the stock is currently overvalued, though it shows strong momentum. InvestingPro subscribers can access 13 additional investment tips and a comprehensive Pro Research Report for deeper insights into COHR's valuation and growth prospects.
In other recent news, Coherent Corp. reported first quarter results for fiscal year 2025 and provided projections for the second quarter. The company's executives, CEO Jim Anderson and CFO Sherri Luther, led the earnings call, acknowledging potential risks that could cause actual results to differ from projections. Simultaneously, Citi updated its outlook on Coherent, rating it as a Buy with a new price target of $136.00. Citi's analysis 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.
In other company news, Coherent Corp. approved an amended incentive plan and elected directors at its recent Annual Meeting of Shareholders. The shareholders endorsed the executive compensation for named executive officers for the fiscal year 2024 and ratified the selection of Ernst & Young LLP as the company's independent registered public accounting firm for the fiscal year ending June 30, 2025. These recent developments reflect the ongoing strategic direction and governance of Coherent Corp.
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