James Robert Anderson, the CEO and President of Coherent Corp. (NASDAQ:NYSE:COHR), recently purchased 500 shares of the company's common stock. The shares were acquired at an average price of $103.9771 per share, amounting to a total transaction value of $51,988. Following this purchase on November 22, Anderson's direct ownership in the company stands at 148,714 shares. This transaction reflects ongoing activity in Coherent Corp.'s stock as it continues to operate in the optical instruments and lenses industry.
In other recent news, Coherent Corp. reported its fiscal year 2025 first quarter results and provided projections for the second quarter. The earnings call, led by CEO Jim Anderson and CFO Sherri Luther, offered an in-depth review of the company's performance. While no specific financial misses were mentioned, the company acknowledged risks that could affect actual results compared to projections.
Simultaneously, Coherent Corp. approved an amended incentive plan and elected directors at its Annual Meeting of Shareholders. The amendment to the Omnibus Incentive Plan, involving additional shares available for awards, was endorsed by shareholders. James R. Anderson, Michael L. Dreyer, Stephen Pagliuca, Elizabeth A. Patrick, and Howard H. Xia were appointed as Class One Directors.
Citi upgraded its outlook on Coherent, rating it a Buy with a price target of $136.00. The firm anticipates that Coherent will evolve into a company with over 40% non-GAAP gross margin and earnings power exceeding $5.00 per share by the fiscal year ending in June 2026. These recent developments reflect Coherent Corp.'s strategic direction and the market's positive view of its future financial performance.
InvestingPro Insights
James Robert Anderson's recent purchase of Coherent Corp. (NASDAQ:COHR) shares aligns with several positive indicators highlighted by InvestingPro. The company's stock has shown remarkable performance, with a 191.48% total return over the past year and a significant 76.54% return in the last six months. This strong momentum is further supported by InvestingPro Tips, which note that COHR has experienced a "significant return over the last week" and a "strong return over the last three months."
The CEO's decision to increase his stake comes at a time when analysts are optimistic about the company's future. According to InvestingPro Tips, six analysts have revised their earnings upwards for the upcoming period, and the company is expected to become profitable this year. This positive outlook is particularly noteworthy given that COHR was not profitable over the last twelve months.
Despite the recent stock price surge, which has pushed COHR to 89.38% of its 52-week high, the company's financial health appears solid. InvestingPro Data shows that Coherent Corp. has a market capitalization of $16.29 billion and its liquid assets exceed short-term obligations, indicating a stable financial position.
It's worth noting that InvestingPro offers 14 additional tips for COHR, providing investors with a comprehensive analysis of the company's prospects and potential risks. These insights could be particularly valuable given the stock's volatile nature, as mentioned in one of the InvestingPro Tips.
Coherent Corp., formerly known as II-VI Incorporated, is a global leader in engineered materials, optoelectronic components, and optical systems. The company serves various markets including industrial, communications, aerospace & defense, and consumer electronics. Coherent's products are used in a wide range of applications, from lasers and 3D sensing to optical communications and semiconductor capital equipment.
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