Traders Buy Large Volume of II-VI Put Options (IIVI)

II-VI, Inc. (NASDAQ:IIVI) saw unusually large options trading activity on Monday. Stock investors acquired 970 put options on the stock. This is an increase of approximately 1,440% compared to the average volume of 63 put options.

II-VI stock opened at $38.91 on Tuesday. II-VI has a twelve month low of $29.31 and a twelve month high of $50.75. The company has a market cap of $2.47 billion, a PE ratio of 22.62, a P/E/G ratio of 1.27 and a beta of 0.83. The company has a quick ratio of 2.00, a current ratio of 3.17 and a debt-to-equity ratio of 0.43.

II-VI (NASDAQ:IIVI) last released its earnings results on Thursday, January 3rd. The scientific and technical instruments company reported $0.44 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.46 by ($0.02). II-VI had a net margin of 8.81% and a return on equity of 10.93%. The company had revenue of $342.84 million for the quarter, compared to the consensus estimate of $339.22 million. On average, equities analysts expect that II-VI will post 1.72 EPS for the current fiscal year.

Several equities analysts recently issued reports on IIVI shares. BidaskClub lowered shares of II-VI from a “hold” rating to a “sell” rating in a report on Saturday, March 9th. Zacks Investment Research upgraded shares of II-VI from a “sell” rating to a “hold” rating in a report on Friday, January 4th. Northland Securities upgraded shares of II-VI from a “market perform” rating to an “outperform” rating and set a $40.00 target price on the stock in a report on Monday, December 31st. They noted that the move was a valuation call. Piper Jaffray Companies restated an “overweight” rating and issued a $50.00 target price on shares of II-VI in a report on Friday, February 1st. Finally, Morgan Stanley set a $44.00 target price on shares of II-VI and gave the stock a “hold” rating in a report on Saturday, February 2nd. Two research analysts have rated the stock with a sell rating, four have given a hold rating and eight have issued a buy rating to the stock. The stock presently has an average rating of “Hold” and an average price target of $49.09.

In related news, CFO Mary Jane Raymond sold 2,000 shares of the business’s stock in a transaction on Monday, March 11th. The shares were sold at an average price of $39.00, for a total value of $78,000.00. Following the transaction, the chief financial officer now owns 49,464 shares in the company, valued at $1,929,096. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, VP David G. Wagner sold 2,317 shares of the business’s stock in a transaction on Thursday, January 17th. The shares were sold at an average price of $33.23, for a total transaction of $76,993.91. Following the completion of the transaction, the vice president now owns 60,734 shares in the company, valued at approximately $2,018,190.82. The disclosure for this sale can be found here. In the last three months, insiders sold 57,517 shares of company stock worth $2,300,042. 4.00% of the stock is currently owned by insiders.

Several institutional investors have recently added to or reduced their stakes in IIVI. Advisory Services Network LLC grew its holdings in shares of II-VI by 750.0% during the 4th quarter. Advisory Services Network LLC now owns 850 shares of the scientific and technical instruments company’s stock valued at $28,000 after purchasing an additional 750 shares during the last quarter. Winslow Evans & Crocker Inc. bought a new position in shares of II-VI during the 4th quarter valued at $34,000. Doyle Wealth Management bought a new position in shares of II-VI during the 4th quarter valued at $49,000. FNY Investment Advisers LLC bought a new position in shares of II-VI during the 4th quarter valued at $116,000. Finally, Advisors Asset Management Inc. bought a new position in shares of II-VI during the 4th quarter valued at $130,000. 91.85% of the stock is owned by hedge funds and other institutional investors.

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About II-VI

II-VI Incorporated develops, manufactures, and markets engineered materials, and optoelectronic components and devices worldwide. The company operates in three segments: II-VI Laser Solutions, II-VI Photonics, and II-VI Performance Products. The II-VI Laser Solutions segment offers optical and electro-optical components and materials primarily used in high-power CO2 lasers; fiber-delivered beam delivery systems, and processing tools and direct diode lasers for industrial lasers; direct diode laser modules, sub-systems, and systems; super-hard materials processing laser systems; and compound semiconductor epitaxial and gallium arsenide wafers.

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