Christopher Koeppen, the Chief Innovation Officer at Coherent Corp. (NYSE:), recently executed two significant sales of company stock, according to a recent SEC filing. The transactions come as the company’s stock has shown remarkable strength, posting a 147% gain year-to-date and trading near its 52-week high of $113.60. On November 22, Koeppen sold 2,248 shares at a price of approximately $105.00 per share. This was followed by another sale on December 16, where he sold 2,916 shares at a price of $108.84 per share. The total value of these sales amounts to $553,428. According to InvestingPro data, the stock has demonstrated significant volatility, with analysts maintaining a bullish outlook and a consensus target price reaching as high as $136.
Following these transactions, Koeppen holds 55,338 shares directly. Additionally, the filing notes indirect ownership of 15 shares each by his daughter and son. These sales were conducted under a Rule 10b5-1 trading plan, which Koeppen adopted on June 15, 2023, providing a pre-determined schedule for selling shares. The company, now valued at $16.68 billion, has attracted increased investor attention with six analysts recently revising their earnings estimates upward for the upcoming period.
In other recent news, Coherent Corp. has announced its intention to explore strategic options for its innovative SHARP™ battery recycling technology. This comes as six analysts revise their earnings estimates upward, signaling increased confidence in Coherent’s strategic direction. Meanwhile, the company is set to receive up to $33 million in federal funds for the expansion of its Texas plant, aimed at enhancing the production of indium phosphide devices. Jefferies and Citi have initiated coverage of Coherent with a Buy rating, suggesting potential for growth under new CEO Jim Anderson.
In other recent developments, Coherent’s shareholders approved an amended incentive plan and elected Class One Directors at their recent Annual Meeting. The company also reported its first-quarter results for fiscal year 2025 and shared its projections for the second quarter.
On another note, Apple Inc (NASDAQ:). reported a record-breaking total revenue of $94.9 billion for the final quarter of its Fiscal Year 2024, driven by a 6% growth in iPhone sales. The tech giant also announced plans to invest $1 billion in a new manufacturing facility in Indonesia. Analysts from KeyBanc, Wedbush Securities, and Morgan Stanley (NYSE:) provided varied outlooks on Apple’s future.
These developments highlight recent strategic moves and financial results from both Coherent Corp. and Apple Inc. However, it’s worth noting that these are projections and actual results may vary.
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