II-VI, Inc. (NASDAQ:IIVI) – Analysts at DA Davidson issued their Q3 2018 earnings per share estimates for II-VI in a report issued on Wednesday, March 14th, according to Zacks Investment Research. DA Davidson analyst T. Diffely forecasts that the scientific and technical instruments company will earn $0.35 per share for the quarter. DA Davidson currently has a “Buy” rating and a $55.00 target price on the stock. DA Davidson also issued estimates for II-VI’s Q4 2018 earnings at $0.44 EPS, Q1 2019 earnings at $0.43 EPS, Q2 2019 earnings at $0.53 EPS, Q3 2019 earnings at $0.51 EPS, Q4 2019 earnings at $0.53 EPS, Q1 2020 earnings at $0.58 EPS and Q2 2020 earnings at $0.63 EPS.
II-VI (NASDAQ:IIVI) last posted its quarterly earnings data on Thursday, February 1st. The scientific and technical instruments company reported $0.39 EPS for the quarter, beating the consensus estimate of $0.37 by $0.02. The business had revenue of $281.50 million for the quarter, compared to the consensus estimate of $277.16 million. II-VI had a return on equity of 11.10% and a net margin of 8.08%. II-VI’s revenue for the quarter was up 21.4% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.49 earnings per share.
Several other equities research analysts also recently issued reports on IIVI. BidaskClub upgraded II-VI from a “sell” rating to a “hold” rating in a research report on Tuesday, December 12th. Northland Securities downgraded II-VI from an “outperform” rating to a “market perform” rating in a research report on Monday, January 22nd. Loop Capital initiated coverage on II-VI in a research report on Monday, January 29th. They set a “buy” rating and a $70.00 target price on the stock. Craig Hallum dropped their target price on II-VI to $53.00 and set a “buy” rating on the stock in a research report on Friday, February 2nd. Finally, Piper Jaffray initiated coverage on II-VI in a research report on Tuesday, February 13th. They set an “overweight” rating and a $50.00 target price on the stock. Two investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and a consensus price target of $53.50.
Shares of NASDAQ:IIVI traded down $1.30 during trading on Friday, hitting $40.80. 542,493 shares of the company were exchanged, compared to its average volume of 1,088,370. The company has a market cap of $2,549.47, a P/E ratio of 27.57, a P/E/G ratio of 1.55 and a beta of 0.10. II-VI has a 52-week low of $27.25 and a 52-week high of $53.08. The company has a debt-to-equity ratio of 0.48, a current ratio of 4.01 and a quick ratio of 2.71.
A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. BlackRock Inc. increased its stake in II-VI by 7.5% in the fourth quarter. BlackRock Inc. now owns 7,562,217 shares of the scientific and technical instruments company’s stock valued at $355,046,000 after acquiring an additional 526,660 shares during the last quarter. Discovery Capital Management LLC CT bought a new position in II-VI in the fourth quarter valued at $116,367,000. Bank of New York Mellon Corp increased its stake in II-VI by 7.3% in the fourth quarter. Bank of New York Mellon Corp now owns 1,341,583 shares of the scientific and technical instruments company’s stock valued at $62,987,000 after acquiring an additional 91,739 shares during the last quarter. Macquarie Group Ltd. increased its stake in II-VI by 10.3% in the fourth quarter. Macquarie Group Ltd. now owns 803,299 shares of the scientific and technical instruments company’s stock valued at $37,715,000 after acquiring an additional 75,052 shares during the last quarter. Finally, Geode Capital Management LLC increased its stake in II-VI by 0.3% in the fourth quarter. Geode Capital Management LLC now owns 505,300 shares of the scientific and technical instruments company’s stock valued at $23,723,000 after acquiring an additional 1,463 shares during the last quarter. 89.12% of the stock is currently owned by institutional investors and hedge funds.
In other news, CEO Vincent D. Mattera, Jr. sold 8,000 shares of the company’s stock in a transaction on Tuesday, March 20th. The shares were sold at an average price of $47.34, for a total value of $378,720.00. Following the transaction, the chief executive officer now owns 260,335 shares of the company’s stock, valued at $12,324,258.90. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Corporate insiders own 3.80% of the company’s stock.
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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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