Traders Purchase High Volume of Put Options on II-VI (IIVI)

II-VI, Inc. (NASDAQ:IIVI) was the target of some unusual options trading activity on Thursday. Stock traders acquired 1,275 put options on the company. This represents an increase of approximately 1,600% compared to the average volume of 75 put options.

NASDAQ IIVI opened at $40.80 on Friday. The company has a current ratio of 4.01, a quick ratio of 2.71 and a debt-to-equity ratio of 0.48. The firm has a market capitalization of $2,593.19, a price-to-earnings ratio of 27.57, a P/E/G ratio of 1.58 and a beta of 0.10. II-VI has a 52-week low of $27.25 and a 52-week high of $53.08.

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II-VI (NASDAQ:IIVI) last posted its quarterly earnings results on Thursday, February 1st. The scientific and technical instruments company reported $0.39 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.37 by $0.02. The company had revenue of $281.50 million for the quarter, compared to analyst estimates of $277.16 million. II-VI had a net margin of 8.08% and a return on equity of 11.10%. The business’s quarterly revenue was up 21.4% on a year-over-year basis. During the same period last year, the business posted $0.49 EPS. research analysts forecast that II-VI will post 1.55 EPS for the current fiscal year.

In other news, CEO Vincent D. Mattera, Jr. sold 8,000 shares of the firm’s stock in a transaction on Tuesday, March 20th. The shares were sold at an average price of $47.34, for a total transaction of $378,720.00. Following the transaction, the chief executive officer now owns 260,335 shares in the company, valued at approximately $12,324,258.90. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 3.80% of the stock is currently owned by company insiders.

Hedge funds and other institutional investors have recently bought and sold shares of the business. Bank of New York Mellon Corp grew its position in II-VI by 7.3% in the 4th quarter. Bank of New York Mellon Corp now owns 1,341,583 shares of the scientific and technical instruments company’s stock worth $62,987,000 after purchasing an additional 91,739 shares during the last quarter. Arizona State Retirement System grew its position in II-VI by 219.8% in the 4th quarter. Arizona State Retirement System now owns 92,246 shares of the scientific and technical instruments company’s stock worth $4,331,000 after purchasing an additional 63,398 shares during the last quarter. Argent Capital Management LLC grew its position in II-VI by 23.0% in the 3rd quarter. Argent Capital Management LLC now owns 57,710 shares of the scientific and technical instruments company’s stock worth $2,375,000 after purchasing an additional 10,785 shares during the last quarter. Rhumbline Advisers grew its position in II-VI by 12.3% in the 4th quarter. Rhumbline Advisers now owns 150,550 shares of the scientific and technical instruments company’s stock worth $7,068,000 after purchasing an additional 16,542 shares during the last quarter. Finally, Columbia Partners L L C Investment Management acquired a new stake in II-VI in the 4th quarter worth $1,550,000. Institutional investors own 89.12% of the company’s stock.

Several research analysts recently commented on the stock. BidaskClub upgraded shares of II-VI from a “sell” rating to a “hold” rating in a report on Tuesday, December 12th. B. Riley upgraded shares of II-VI from a “neutral” rating to a “buy” rating and lifted their target price for the stock from $40.50 to $55.00 in a report on Tuesday, March 20th. Northland Securities downgraded shares of II-VI from an “outperform” rating to a “market perform” rating in a report on Monday, January 22nd. Morgan Stanley assumed coverage on shares of II-VI in a report on Friday, March 9th. They issued an “overweight” rating and a $46.00 target price on the stock. Finally, ValuEngine upgraded shares of II-VI from a “hold” rating to a “buy” rating in a report on Wednesday, March 14th. Two analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. The stock currently has a consensus rating of “Buy” and an average target price of $53.50.

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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.

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