Coherent Corp. (NASDAQ:IIVIP – Get Rating)'s stock price fell 9% during mid-day trading on Friday . The stock traded as low as $149.83 and last traded at $153.71. 12,876 shares were traded during mid-day trading, an increase of 41% from the average session volume of 9,117 shares. The stock had previously closed at $168.95.

Coherent Stock Performance

The company has a 50 day moving average price of $180.88 and a 200 day moving average price of $170.32.

Institutional Investors Weigh In On Coherent

Several large investors have recently added to or reduced their stakes in the stock. Cetera Advisors LLC acquired a new position in shares of Coherent during the fourth quarter valued at $226,000. Susquehanna International Group LLP grew its holdings in Coherent by 5.5% during the fourth quarter. Susquehanna International Group LLP now owns 3,932 shares of the company's stock worth $629,000 after acquiring an additional 205 shares during the period. BlueCrest Capital Management Ltd acquired a new position in Coherent during the third quarter worth about $1,061,000. Prelude Capital Management LLC acquired a new position in Coherent during the third quarter worth about $1,312,000. Finally, Uniplan Investment Counsel Inc. grew its holdings in Coherent by 4.0% during the third quarter. Uniplan Investment Counsel Inc. now owns 10,240 shares of the company's stock worth $1,602,000 after acquiring an additional 396 shares during the period.

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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