II-VI, Inc. (IIVI) Position Reduced by Jane Street Group LLC

Jane Street Group LLC lessened its stake in II-VI, Inc. (NASDAQ:IIVI) by 75.1% in the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 7,478 shares of the scientific and technical instruments company’s stock after selling 22,522 shares during the quarter. Jane Street Group LLC’s holdings in II-VI were worth $351,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. Louisiana State Employees Retirement System increased its holdings in II-VI by 4.4% in the 4th quarter. Louisiana State Employees Retirement System now owns 23,600 shares of the scientific and technical instruments company’s stock worth $1,108,000 after acquiring an additional 1,000 shares in the last quarter. Geode Capital Management LLC increased its holdings in II-VI by 0.3% in the 4th quarter. Geode Capital Management LLC now owns 505,300 shares of the scientific and technical instruments company’s stock worth $23,723,000 after acquiring an additional 1,463 shares in the last quarter. US Bancorp DE increased its holdings in II-VI by 43.3% in the 4th quarter. US Bancorp DE now owns 4,891 shares of the scientific and technical instruments company’s stock worth $229,000 after acquiring an additional 1,477 shares in the last quarter. Swiss National Bank increased its holdings in II-VI by 2.1% in the 4th quarter. Swiss National Bank now owns 97,000 shares of the scientific and technical instruments company’s stock worth $4,554,000 after acquiring an additional 2,000 shares in the last quarter. Finally, California Public Employees Retirement System increased its holdings in II-VI by 3.3% in the 4th quarter. California Public Employees Retirement System now owns 129,613 shares of the scientific and technical instruments company’s stock worth $6,085,000 after acquiring an additional 4,115 shares in the last quarter. 89.12% of the stock is owned by institutional investors.

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II-VI stock opened at $43.70 on Friday. II-VI, Inc. has a 52-week low of $27.25 and a 52-week high of $53.08. The firm has a market cap of $2,771.28, a PE ratio of 29.53, a price-to-earnings-growth ratio of 1.69 and a beta of 0.10. The company has a quick ratio of 2.71, a current ratio of 4.01 and a debt-to-equity ratio of 0.48.

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

In related news, CEO Vincent D. Mattera, Jr. sold 8,000 shares of the company’s stock in a transaction dated Tuesday, March 20th. The shares were sold at an average price of $47.34, for a total value of $378,720.00. Following the completion of the sale, the chief executive officer now owns 260,335 shares of the company’s stock, valued at $12,324,258.90. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 3.80% of the company’s stock.

A number of equities research analysts have recently issued reports on the stock. BidaskClub raised shares of II-VI from a “hold” rating to a “buy” rating in a report on Wednesday, January 10th. Zacks Investment Research raised shares of II-VI from a “hold” rating to a “buy” rating and set a $50.00 target price for the company in a report on Tuesday, March 20th. Northland Securities lowered shares of II-VI from an “outperform” rating to a “market perform” rating in a report on Monday, January 22nd. Craig Hallum dropped their target price on shares of II-VI to $53.00 and set a “buy” rating for the company in a report on Friday, February 2nd. Finally, Piper Jaffray assumed coverage on shares of II-VI in a report on Tuesday, February 13th. They set an “overweight” rating and a $50.00 target price for the company. Two analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. II-VI currently has a consensus rating of “Buy” and a consensus price target 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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Institutional Ownership by Quarter for II-VI (NASDAQ:IIVI)

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