James Anderson, President and CEO of Coherent Corp (COHR), recently bought 500 shares. The buy increased his position by less than 1%, and came to a total cost of $51,989.
Anderson was the last buyer with two pickups totaling 1,000 shares, for just over $70,000, back in September. Otherwise, a few company officers have been sellers of shares, and one director reduced her position by two-thirds. Going further back, insiders were sellers of shares in 2023.
In total, Coherent insiders own 1.2% of shares.
The manufacturer of lasers and optical systems is up 176% over the past year. While Coherent lost money overall, revenues jumped 28%, as the company’s laser technology appears to be one of many key components in the hardware rollout of the AI boom.
That’s also leading the company to receive analyst upgrades even after its big run.
Shares trade at 31 times forward earnings, and if Coherent can shift to profitability, the market is likely to reward investors with further upside.
Action to take: Momentum investors may like shares here, given the stock’s steady uptrend over the past year. And growth investors should see a further rise thanks to the ongoing rollout of AI technologies.
For traders, the April 2025 $115 calls, last trading for about $7.70, could see mid-to-high double-digit returns on a continued uptrend into early next year.
Disclosure: The author of this article has no position in the company mentioned here, but may trade after the next 72 hours. The author receives no compensation from any company mentioned in this article.