Coherent Corp. (NASDAQ:IIVIP – Get Rating) saw a large drop in short interest in December. As of December 15th, there was short interest totalling 800 shares, a drop of 11.1% from the November 30th total of 900 shares. Based on an average trading volume of 9,700 shares, the days-to-cover ratio is currently 0.1 days.
Hedge Funds Weigh In On Coherent
Large investors have recently bought and sold shares of the business. Two Sigma Investments LP lifted its stake in Coherent by 1.0% in the third quarter. Two Sigma Investments LP now owns 207,090 shares of the company's stock valued at $32,401,000 after buying an additional 2,090 shares during the last quarter. Royce & Associates LP lifted its position in Coherent by 26.1% in the 3rd quarter. Royce & Associates LP now owns 104,214 shares of the company's stock valued at $16,305,000 after purchasing an additional 21,581 shares during the last quarter. Chicago Capital Management LLC acquired a new position in Coherent during the 3rd quarter valued at about $7,917,000. State Street Corp grew its position in Coherent by 36.5% in the 3rd quarter. State Street Corp now owns 44,500 shares of the company's stock worth $7,032,000 after purchasing an additional 11,900 shares during the last quarter. Finally, Laffer Tengler Investments increased its stake in shares of Coherent by 2.8% in the first quarter. Laffer Tengler Investments now owns 10,437 shares of the company's stock valued at $3,093,000 after purchasing an additional 281 shares during the period.
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Coherent Stock Performance
Coherent stock traded down $0.55 during mid-day trading on Tuesday, reaching $159.35. The company's stock had a trading volume of 33 shares, compared to its average volume of 8,155. Coherent has a twelve month low of $141.47 and a twelve month high of $305.30. The business has a 50 day moving average price of $160.98 and a 200-day moving average price of $185.13.
Coherent Dividend Announcement
The firm also recently declared a quarterly dividend, which was paid on Sunday, January 1st. Stockholders of record on Thursday, December 15th were issued a $3.00 dividend. This represents a $12.00 annualized dividend and a dividend yield of 7.53%. The ex-dividend date was Wednesday, December 14th.
Coherent Company Profile
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Coherent Corp. develops, manufactures, and markets engineered materials, optoelectronic components, and devices worldwide. It operates in two segments, Compound Semiconductors and Photonic Solutions. The Compound Semiconductors segment provides optical and electro-optical components and materials used in high-power CO2 lasers, fiber-lasers, and direct diode lasers for materials processing applications; infrared optical components and high-precision optical assemblies for aerospace and defense, medical, and commercial laser imaging applications; semiconductor lasers and detectors for optical interconnects and sensing applications; engineered materials for thermoelectric, ceramics, and silicon carbide various applications; and compound semiconductor epitaxial wafers for applications in optical and wireless communication.
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