II-VI (NASDAQ:IIVI) had its target price cut by Canaccord Genuity from $46.00 to $42.00 in a research note published on Tuesday morning, AnalystRatings.com reports. They currently have a buy rating on the scientific and technical instruments company’s stock.
IIVI has been the topic of several other research reports. Needham & Company LLC boosted their price objective on II-VI from $40.00 to $43.00 and gave the company a buy rating in a report on Thursday, January 2nd. BidaskClub downgraded II-VI from a buy rating to a hold rating in a report on Friday, January 31st. Northland Securities reiterated a hold rating and issued a $30.00 price objective on shares of II-VI in a report on Tuesday, November 12th. Zacks Investment Research downgraded II-VI from a hold rating to a strong sell rating in a report on Wednesday, January 8th. Finally, TheStreet downgraded II-VI from a b- rating to a c rating in a report on Tuesday, November 12th. Eight investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. The stock currently has a consensus rating of Buy and an average price target of $41.00.
Shares of IIVI stock traded down $0.33 on Tuesday, hitting $37.25. The stock had a trading volume of 1,384,201 shares, compared to its average volume of 1,571,913. The company has a debt-to-equity ratio of 1.14, a current ratio of 3.22 and a quick ratio of 1.85. The firm has a market capitalization of $3.42 billion, a P/E ratio of -56.44 and a beta of 1.17. II-VI has a 1 year low of $26.93 and a 1 year high of $43.49. The company’s 50 day moving average price is $35.74 and its 200-day moving average price is $34.86.
II-VI (NASDAQ:IIVI) last posted its quarterly earnings data on Monday, February 10th. The scientific and technical instruments company reported $0.36 earnings per share (EPS) for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.36. The firm had revenue of $666.30 million for the quarter, compared to the consensus estimate of $610.30 million. II-VI had a negative return on equity of 4.90% and a negative net margin of 4.18%. The company’s quarterly revenue was up 94.3% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.71 EPS. On average, equities analysts forecast that II-VI will post -2.22 EPS for the current year.
In other II-VI news, Director Howard H. Xia sold 9,300 shares of the company’s stock in a transaction dated Wednesday, February 12th. The stock was sold at an average price of $38.00, for a total transaction of $353,400.00. Following the sale, the director now owns 38,064 shares in the company, valued at approximately $1,446,432. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO Vincent D. Mattera, Jr. sold 29,000 shares of the company’s stock in a transaction dated Friday, January 31st. The stock was sold at an average price of $33.65, for a total value of $975,850.00. Following the sale, the chief executive officer now owns 455,651 shares in the company, valued at approximately $15,332,656.15. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 38,800 shares of company stock worth $1,346,750. 4.20% of the stock is owned by company insiders.
Large investors have recently added to or reduced their stakes in the company. Benjamin F. Edwards & Company Inc. acquired a new position in shares of II-VI during the 4th quarter worth about $29,000. GQ Asset Management LLC acquired a new position in shares of II-VI during the 3rd quarter worth about $33,000. Robecosam AG boosted its position in shares of II-VI by 36.1% during the 4th quarter. Robecosam AG now owns 1,720,000 shares of the scientific and technical instruments company’s stock worth $34,000 after acquiring an additional 456,000 shares in the last quarter. Versant Capital Management Inc boosted its position in shares of II-VI by 122.0% during the 3rd quarter. Versant Capital Management Inc now owns 1,230 shares of the scientific and technical instruments company’s stock worth $43,000 after acquiring an additional 676 shares in the last quarter. Finally, Emerald Advisers LLC acquired a new position in shares of II-VI during the 4th quarter worth about $47,000. 93.40% of the stock is owned by institutional investors and hedge funds.
II-VI Incorporated develops, manufactures, and markets engineered materials, and optoelectronic components and devices worldwide. The company operates in three segments: II-VI Laser Solutions, II-VI Photonics, and II-VI Performance Products. The II-VI Laser Solutions segment offers optical and electro-optical components and materials primarily used in high-power CO2 lasers; fiber-delivered beam delivery systems, and processing tools and direct diode lasers for industrial lasers; direct diode laser modules, sub-systems, and systems; super-hard materials processing laser systems; and compound semiconductor epitaxial and gallium arsenide wafers.
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