Stock Traders Buy High Volume of II-VI Call Options (IIVI)

II-VI, Inc. (NASDAQ:IIVI) saw unusually large options trading on Tuesday. Stock investors purchased 506 call options on the stock. This is an increase of approximately 730% compared to the typical daily volume of 61 call options.

Shares of IIVI opened at $45.60 on Wednesday. II-VI has a fifty-two week low of $33.10 and a fifty-two week high of $53.08. The stock has a market cap of $2.73 billion, a PE ratio of 30.81, a price-to-earnings-growth ratio of 1.74 and a beta of 0.16. The company has a debt-to-equity ratio of 0.45, a current ratio of 3.68 and a quick ratio of 2.45.

II-VI (NASDAQ:IIVI) last announced its earnings results on Tuesday, May 1st. The scientific and technical instruments company reported $0.36 earnings per share for the quarter, hitting the consensus estimate of $0.36. II-VI had a net margin of 8.41% and a return on equity of 10.75%. The business had revenue of $294.70 million during the quarter, compared to the consensus estimate of $277.74 million. During the same quarter in the prior year, the firm earned $0.35 earnings per share. The business’s quarterly revenue was up 20.3% compared to the same quarter last year. sell-side analysts anticipate that II-VI will post 1.48 EPS for the current year.

In other II-VI news, VP David G. Wagner sold 6,579 shares of the firm’s stock in a transaction dated Thursday, May 31st. The stock was sold at an average price of $44.09, for a total transaction of $290,068.11. Following the transaction, the vice president now owns 53,248 shares of the company’s stock, valued at $2,347,704.32. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Company insiders own 3.80% of the company’s stock.

Several institutional investors and hedge funds have recently made changes to their positions in IIVI. Stone Ridge Asset Management LLC acquired a new stake in II-VI in the fourth quarter valued at about $210,000. Suntrust Banks Inc. acquired a new stake in II-VI in the fourth quarter valued at about $212,000. US Bancorp DE lifted its position in II-VI by 43.3% in the fourth quarter. US Bancorp DE now owns 4,891 shares of the scientific and technical instruments company’s stock valued at $229,000 after purchasing an additional 1,477 shares during the period. Affinity Investment Advisors LLC lifted its position in II-VI by 23.4% in the first quarter. Affinity Investment Advisors LLC now owns 7,926 shares of the scientific and technical instruments company’s stock valued at $324,000 after purchasing an additional 1,504 shares during the period. Finally, Granite Springs Asset Management LLC acquired a new stake in II-VI in the fourth quarter valued at about $446,000. Institutional investors and hedge funds own 95.78% of the company’s stock.

IIVI has been the topic of several research reports. Morgan Stanley initiated coverage on II-VI in a report on Friday, March 9th. They set an “overweight” rating and a $46.00 price objective on the stock. ValuEngine raised II-VI from a “hold” rating to a “buy” rating in a report on Wednesday, March 14th. DA Davidson initiated coverage on II-VI in a report on Thursday, March 15th. They set a “buy” rating and a $55.00 price objective on the stock. BidaskClub raised II-VI from a “sell” rating to a “hold” rating in a report on Friday, March 16th. Finally, Deutsche Bank initiated coverage on II-VI in a report on Monday, March 19th. They set a “buy” rating and a $56.00 price objective on the stock. One analyst has rated the stock with a sell rating, two have assigned a hold rating and eleven have issued a buy rating to the company. The company currently has an average rating of “Buy” and a consensus target price of $51.75.

II-VI Company Profile

II-VI Incorporated provides engineered materials and optoelectronic components worldwide. The company is a vertically integrated manufacturing company that develops innovative products for various applications in the industrial, optical communications, military, life sciences, semiconductor equipment, and consumer markets.

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