Coherent Corp. (NASDAQ:IIVIP – Get Rating) shares traded down 3.3% during trading on Tuesday . The stock traded as low as $154.10 and last traded at $154.60. 1,409 shares traded hands during mid-day trading, a decline of 83% from the average session volume of 8,329 shares. The stock had previously closed at $159.91.
Coherent Price Performance
The firm's 50-day moving average is $160.08 and its 200 day moving average is $190.89.
Get Coherent alerts:Coherent Announces Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Sunday, January 1st. Investors of record on Thursday, December 15th will be given a $3.00 dividend. The ex-dividend date of this dividend is Wednesday, December 14th. This represents a $12.00 annualized dividend and a yield of 7.76%.
Institutional Investors Weigh In On Coherent
Several institutional investors have recently added to or reduced their stakes in the stock. State Street Corp increased its stake in Coherent by 36.5% in the 3rd quarter. State Street Corp now owns 44,500 shares of the company's stock valued at $7,032,000 after buying an additional 11,900 shares during the last quarter. Two Sigma Investments LP increased its stake in Coherent by 1.0% in the 3rd 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. Uniplan Investment Counsel Inc. increased its stake in Coherent by 4.0% in the 3rd quarter. Uniplan Investment Counsel Inc. now owns 10,240 shares of the company's stock valued at $1,602,000 after buying an additional 396 shares during the last quarter. Prelude Capital Management LLC acquired a new stake in Coherent in the 3rd quarter valued at $1,312,000. Finally, BlueCrest Capital Management Ltd acquired a new stake in Coherent in the 3rd quarter valued at $1,061,000.Coherent Company Profile
(Get Rating)
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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