II-VI Incorporated (NASDAQ:IIVI) PT Raised to $40.50

II-VI Incorporated (NASDAQ:IIVI) had its target price hoisted by B. Riley from $39.50 to $40.50 in a research report sent to investors on Wednesday, November 1st. They currently have a neutral rating on the scientific and technical instruments company’s stock.

Other research analysts also recently issued research reports about the stock. Benchmark Co. restated a buy rating and issued a $44.00 price target on shares of II-VI in a research report on Wednesday, September 13th. Craig Hallum initiated coverage on shares of II-VI in a research report on Monday, July 24th. They issued a buy rating and a $50.00 price target on the stock. BidaskClub upgraded shares of II-VI from a hold rating to a buy rating in a research report on Wednesday, July 19th. Needham & Company LLC restated a buy rating and issued a $45.00 price target (up previously from $40.00) on shares of II-VI in a research report on Wednesday, August 9th. Finally, Northland Securities set a $45.00 target price on shares of II-VI and gave the company a buy rating in a research report on Monday, August 7th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and five have assigned a buy rating to the stock. The company currently has an average rating of Buy and a consensus price target of $48.75.

II-VI (NASDAQ:IIVI) opened at $47.15 on Wednesday. The stock has a market cap of $2,940.79, a P/E ratio of 28.40 and a beta of 0.02. II-VI has a 1 year low of $27.25 and a 1 year high of $47.20. The company has a debt-to-equity ratio of 0.43, a current ratio of 3.89 and a quick ratio of 2.63.

II-VI (NASDAQ:IIVI) last issued its quarterly earnings results on Tuesday, October 31st. The scientific and technical instruments company reported $0.32 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.36 by ($0.04). The firm had revenue of $261.50 million during the quarter, compared to analyst estimates of $255.20 million. II-VI had a return on equity of 12.25% and a net margin of 9.89%. The firm’s revenue for the quarter was up 18.1% on a year-over-year basis. During the same quarter last year, the firm posted $0.35 EPS. equities research analysts forecast that II-VI will post 1.55 earnings per share for the current fiscal year.

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In other II-VI news, CFO Mary Jane Raymond sold 1,000 shares of the company’s stock in a transaction dated Tuesday, October 31st. The shares were sold at an average price of $45.00, for a total transaction of $45,000.00. Following the sale, the chief financial officer now directly owns 53,415 shares of the company’s stock, valued at $2,403,675. The transaction 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 dated Tuesday, October 31st. The stock was 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 in the company, valued at $12,910,280.90. The disclosure for this sale can be found here. In the last quarter, insiders sold 51,000 shares of company stock valued at $2,222,500. Company insiders own 3.80% of the company’s stock.

Several institutional investors have recently modified their holdings of IIVI. UBS Asset Management Americas Inc. grew its holdings in shares of II-VI by 94.5% in the first quarter. UBS Asset Management Americas Inc. now owns 34,030 shares of the scientific and technical instruments company’s stock worth $1,227,000 after purchasing an additional 16,532 shares during the last quarter. Alliancebernstein L.P. grew its holdings in shares of II-VI by 6.0% in the first quarter. Alliancebernstein L.P. now owns 85,938 shares of the scientific and technical instruments company’s stock worth $3,098,000 after purchasing an additional 4,900 shares during the last quarter. OppenheimerFunds Inc. grew its holdings in shares of II-VI by 22.6% in the first quarter. OppenheimerFunds Inc. now owns 21,405 shares of the scientific and technical instruments company’s stock worth $771,000 after purchasing an additional 3,948 shares during the last quarter. Teachers Advisors LLC grew its holdings in shares of II-VI by 0.7% in the first quarter. Teachers Advisors LLC now owns 384,608 shares of the scientific and technical instruments company’s stock worth $13,865,000 after purchasing an additional 2,857 shares during the last quarter. Finally, Legal & General Group Plc grew its holdings in shares of II-VI by 0.7% in the first quarter. Legal & General Group Plc now owns 97,851 shares of the scientific and technical instruments company’s stock worth $3,528,000 after purchasing an additional 663 shares during the last quarter. Hedge funds and other institutional investors own 78.03% of the company’s stock.

About II-VI

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.

Analyst Recommendations for II-VI (NASDAQ:IIVI)

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