II-VI, Inc. (NASDAQ:IIVI) has received a consensus recommendation of “Buy” from the nine analysts that are covering the firm, MarketBeat.com reports. Four analysts have rated the stock with a hold recommendation and five have assigned a buy recommendation to the company. The average 1-year target price among brokerages that have issued a report on the stock in the last year is $51.25.
A number of brokerages recently weighed in on IIVI. Needham & Company LLC boosted their price objective on II-VI from $50.00 to $56.00 and gave the stock a “buy” rating in a research report on Monday, November 13th. boosted their price objective on II-VI from $50.00 to $56.00 and gave the stock a “buy” rating in a research report on Wednesday, November 15th. Zacks Investment Research lowered II-VI from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, October 11th. BidaskClub upgraded II-VI from a “sell” rating to a “hold” rating in a research report on Tuesday, December 12th. Finally, Craig Hallum restated a “buy” rating and set a $58.00 price objective (up previously from $50.00) on shares of II-VI in a research report on Wednesday, November 1st.
II-VI (NASDAQ:IIVI) opened at $46.95 on Tuesday. II-VI has a 52 week low of $27.25 and a 52 week high of $52.55. The company has a quick ratio of 2.63, a current ratio of 3.89 and a debt-to-equity ratio of 0.43. The stock has a market capitalization of $2,928.30, a price-to-earnings ratio of 30.49 and a beta of 0.03.
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 Thomson Reuters’ consensus estimate of $0.36 by ($0.04). II-VI had a net margin of 9.89% and a return on equity of 12.25%. The business had revenue of $261.50 million during the quarter, compared to the consensus estimate of $255.20 million. During the same quarter in the previous year, the business posted $0.35 EPS. The company’s revenue for the quarter was up 18.1% on a year-over-year basis. sell-side analysts expect that II-VI will post 1.55 earnings per share for the current year.
In other II-VI news, VP David G. Wagner sold 6,577 shares of II-VI stock in a transaction dated Thursday, November 30th. The stock was sold at an average price of $47.63, for a total transaction of $313,262.51. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CFO Mary Jane Raymond sold 1,000 shares of II-VI stock in a transaction dated Tuesday, October 31st. The stock was sold at an average price of $45.00, for a total value of $45,000.00. Following the transaction, the chief financial officer now directly owns 53,415 shares in the company, valued at $2,403,675. The disclosure for this sale can be found here. Insiders have sold a total of 36,712 shares of company stock worth $1,699,046 in the last 90 days. 3.80% of the stock is currently owned by corporate insiders.
A number of institutional investors and hedge funds have recently made changes to their positions in IIVI. Assetmark Inc. lifted its holdings in II-VI by 157.5% during the 3rd quarter. Assetmark Inc. now owns 137,616 shares of the scientific and technical instruments company’s stock worth $5,663,000 after buying an additional 84,176 shares during the period. Kornitzer Capital Management Inc. KS lifted its holdings in II-VI by 83.0% during the 3rd quarter. Kornitzer Capital Management Inc. KS now owns 137,480 shares of the scientific and technical instruments company’s stock worth $5,657,000 after buying an additional 62,335 shares during the period. EAM Investors LLC acquired a new position in II-VI during the 3rd quarter worth about $2,252,000. Argent Capital Management LLC acquired a new position in II-VI during the 2nd quarter worth about $1,610,000. Finally, Piedmont Investment Advisors LLC acquired a new position in II-VI during the 2nd quarter worth about $407,000. 80.52% of the stock is currently owned by hedge funds and other institutional investors.
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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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