How are energy investors positioned?
Coherent Corp's (NASDAQ:NYSE:COHR) Chief Innovation Officer, Koeppen Christopher, has sold a total of $142,016 worth of company stock, according to the latest SEC filings. The transactions were executed in multiple sales with prices ranging between $70.852 and $71.476 per share.
On August 15, 2024, Christopher Koeppen engaged in two separate sales of Coherent Corp's common stock. In the first transaction, he sold 1,500 shares at a weighted average price of $70.852, and in the second, he disposed of 500 shares at an average of $71.476. These sales were part of a pre-arranged trading plan under Rule 10b5-1, which allows company insiders to set up a predetermined plan to sell stocks at a time when they are not in possession of material non-public information.
In addition to the sales, the SEC filing also reported that on August 13, shares were acquired by Koeppen as a payout of Performance Share Units granted in 2021. The same day, a number of shares were withheld by Coherent Corp to satisfy withholding tax obligations related to these units. These transactions did not constitute open market sales.
Following these transactions, the SEC filing noted that Koeppen's direct holdings in the company amounted to 64,608 shares of Coherent Corp's common stock. It was also noted that Koeppen's minor children indirectly hold a small number of shares, with 15 shares held by his daughter and another 15 by his son.
Investors and followers of Coherent Corp will continue to monitor insider transactions as they can provide valuable insights into the company's performance and the confidence level of its executives.
In other recent news, Coherent Corp. reported fourth-quarter earnings surpassing analyst estimates. The company disclosed adjusted earnings per share of $0.61, outperforming the consensus forecast of $0.60. A 9.1% year-over-year rise in revenue was also noted, with the figure reaching $1.31 billion, surpassing the projected $1.28 billion. This revenue increase was primarily attributed to AI-related strength in the Datacom transceiver business.
Looking ahead, Coherent anticipates first-quarter revenue for fiscal 2025 to fall between $1.27 billion and $1.35 billion, with adjusted EPS ranging from $0.53 to $0.69. This prediction straddles the consensus estimate of $1.3 billion in revenue and $0.64 in EPS. Operating expenses are expected to range from $260 million to $280 million, with a projected gross margin of 36-38% on a non-GAAP basis.
In terms of product development, the company reported strong sequential growth in 800G AI-related Datacom transceiver revenue. Additionally, Coherent received its first volume order for new Linebeam annealing systems for Gen 8 fabs, driven by initial OLED adoption in tablets and laptops. These are the latest developments surrounding Coherent Corp.
InvestingPro Insights
In light of the recent insider transactions at Coherent Corp (NASDAQ:COHR), it's notable that the company's stock has experienced significant volatility, with a notable return over the last week. The price movements of Coherent Corp's shares have indeed been quite turbulent, as reflected by a 15.0% return in the past week and a contrasting 10.27% decline over the last month. This volatility may be of interest to investors who track insider activity as a gauge for confidence in the company's future performance.
From a valuation perspective, Coherent Corp is currently trading at a high earnings before interest and taxes (EBIT) valuation multiple. This could suggest that the market has high expectations for the company's future earnings potential. Additionally, the company's P/E ratio stands at 56.98, which may indicate that investors are willing to pay a premium for its earnings compared to the overall market.
Despite the company not being profitable over the last twelve months, analysts predict that Coherent Corp will turn a profit this year. This projection is crucial for investors considering the company's future earnings outlook. For those interested in further financial analysis and metrics, there are additional InvestingPro Tips available, providing a deeper dive into Coherent Corp's financial health and market position. At the time of writing, there are 11 more InvestingPro Tips listed on the platform.
For investors seeking a detailed valuation and financial analysis of Coherent Corp, further insights can be accessed by visiting https://www.investing.com/pro/COHR.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.