II-VI Incorporated (NASDAQ:IIVI) had its target price upped by Needham & Company LLC from $50.00 to $56.00 in a research note published on Monday morning. The firm currently has a buy rating on the scientific and technical instruments company’s stock.
Several other research analysts have also weighed in on the stock. Zacks Investment Research lowered shares of II-VI from a strong-buy rating to a hold rating in a research note on Wednesday, October 11th. BidaskClub raised shares of II-VI from a hold rating to a buy rating in a research report on Wednesday, July 19th. Benchmark Co. reissued a buy rating and issued a $44.00 target price on shares of II-VI in a research report on Wednesday, September 13th. Craig Hallum reissued a buy rating and issued a $58.00 target price (up from $50.00) on shares of II-VI in a research report on Wednesday, November 1st. Finally, B. Riley downgraded shares of II-VI from a buy rating to a neutral rating and boosted their target price for the stock from $35.75 to $39.50 in a research report on Wednesday, July 26th. One analyst has rated the stock with a sell rating, two have given a hold rating and five have issued a buy rating to the company’s stock. II-VI has an average rating of Buy and a consensus price target of $49.75.
II-VI (NASDAQ:IIVI) traded up $0.35 during trading on Monday, reaching $47.50. 951,000 shares of the company’s stock traded hands, compared to its average volume of 673,180. The firm has a market cap of $2,940.77, a price-to-earnings ratio of 28.40 and a beta of 0.02. The company has a current ratio of 3.89, a quick ratio of 2.63 and a debt-to-equity ratio of 0.43. II-VI has a 1 year low of $27.25 and a 1 year high of $47.65.
II-VI (NASDAQ:IIVI) last released its quarterly earnings data on Tuesday, October 31st. The scientific and technical instruments company reported $0.32 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.36 by ($0.04). The company had revenue of $261.50 million during the quarter, compared to analyst estimates of $255.20 million. II-VI had a net margin of 9.89% and a return on equity of 12.25%. The firm’s quarterly revenue was up 18.1% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.35 EPS. research analysts expect that II-VI will post 1.55 EPS for the current fiscal year.
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In other II-VI news, CFO Mary Jane Raymond sold 1,000 shares of the stock in a transaction on Tuesday, October 31st. The shares were sold at an average price of $45.00, for a total value of $45,000.00. Following the completion of the sale, the chief financial officer now directly owns 53,415 shares of the company’s stock, valued at approximately $2,403,675. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Francis J. Kramer sold 25,000 shares of the stock in a transaction on Tuesday, October 31st. The shares were sold at an average price of $45.10, for a total transaction of $1,127,500.00. Following the completion of the sale, the director now directly owns 286,259 shares of the company’s stock, valued at $12,910,280.90. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 51,000 shares of company stock valued at $2,222,500. 3.80% of the stock is owned by insiders.
Institutional investors have recently modified their holdings of the business. Pinebridge Investments L.P. raised its stake in shares of II-VI by 1.9% in the 2nd quarter. Pinebridge Investments L.P. now owns 7,237 shares of the scientific and technical instruments company’s stock valued at $249,000 after buying an additional 137 shares in the last quarter. Piedmont Investment Advisors LLC acquired a new position in shares of II-VI in the 2nd quarter valued at $407,000. Paloma Partners Management Co acquired a new position in shares of II-VI in the 1st quarter valued at $417,000. SG Americas Securities LLC raised its stake in shares of II-VI by 329.0% in the 2nd quarter. SG Americas Securities LLC now owns 15,112 shares of the scientific and technical instruments company’s stock valued at $518,000 after buying an additional 11,589 shares in the last quarter. Finally, Aperio Group LLC raised its stake in shares of II-VI by 3.6% in the 2nd quarter. Aperio Group LLC now owns 22,586 shares of the scientific and technical instruments company’s stock valued at $775,000 after buying an additional 784 shares in the last quarter. 78.35% of the stock is owned by hedge funds and other institutional investors.
II-VI Company Profile
II-VI Incorporated develops and manufactures engineered materials, optoelectronic components and products. The Company has three segments: II-VI Laser Solutions, II-VI Photonics and II-VI Performance Products. The II-VI Laser Solutions segment designs, manufactures and markets optical and electro-optical components and materials sold under the II-VI Infrared brand name and used in carbon dioxide (CO2) lasers, fiber-delivered beam delivery systems and processing tools and direct diode lasers for industrial lasers sold under the II-VI HIGHYAG and II-VI Laser Enterprise brand names.
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