Christopher Koeppen, Chief Innovation Officer at Coherent Corp. (NASDAQ:NYSE:COHR), has sold 2,590 shares of the company's common stock. The shares were sold at a price of $107 each, resulting in a total transaction value of $277,130. This sale was executed under a Rule 10b5-1 trading plan, which Koeppen adopted on June 15, 2023. The transaction comes as Coherent's stock has surged nearly 145% year-to-date, with shares currently trading at $113.39, near their 52-week high. According to InvestingPro analysis, the stock appears to be trading above its Fair Value.
Following the sale, Koeppen directly owns 60,502 shares of Coherent Corp. Additionally, he indirectly holds 15 shares each through ownership by his daughter and son. With a market capitalization of $16.48 billion, InvestingPro data shows that while the company isn't currently profitable, analysts expect positive earnings this year. Discover more insights with InvestingPro's comprehensive research report on Coherent Corp.
In other recent news, Coherent Corp. has experienced a series of notable developments. The company's financial performance has been under scrutiny, with Jefferies initiating coverage on Coherent stock and projecting growth under the leadership of CEO Jim Anderson. The firm's positive rating comes despite Coherent's ongoing post-merger challenges and historical inefficiencies.
Meanwhile, Citi has upgraded Coherent Corp. to a Buy, setting a new price target of $136.00. This upgrade is based on an optimistic view of the company's future financial performance, expecting over 40% non-GAAP gross margin and an earnings power exceeding $5.00 per share by the fiscal year ending in June 2026.
Coherent Corp. has also been active in corporate governance, approving an amended incentive plan and electing Class One Directors at a recent Annual Meeting. Additionally, the company reported its first-quarter results for fiscal year 2025 and shared its projections for the second quarter. While no specific financial misses were mentioned, Coherent acknowledged potential risks that could cause actual results to differ from projections.
These recent developments highlight the ongoing evolution of Coherent Corp. as it navigates its post-merger landscape and strives to enhance its financial performance under new leadership.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.