II-VI Incorporated (NASDAQ:IIVI) has received a consensus recommendation of “Buy” from the nine analysts that are currently covering the stock, MarketBeat reports. Four equities research analysts have rated the stock with a hold recommendation and five have assigned a buy recommendation to the company. The average 1-year target price among brokerages that have covered the stock in the last year is $51.25.
A number of equities research analysts recently weighed in on the company. raised their price objective on II-VI from $50.00 to $56.00 and gave the company a “buy” rating in a research report on Wednesday, November 15th. Needham & Company LLC raised their price target on II-VI from $50.00 to $56.00 and gave the stock a “buy” rating in a report on Monday, November 13th. ValuEngine downgraded II-VI from a “buy” rating to a “hold” rating in a report on Friday, December 1st. BidaskClub downgraded II-VI from a “buy” rating to a “hold” rating in a report on Saturday, December 2nd. Finally, Craig Hallum reissued a “buy” rating and issued a $58.00 price target (up previously from $50.00) on shares of II-VI in a report on Wednesday, November 1st.
Shares of II-VI (NASDAQ IIVI) opened at $43.60 on Friday. II-VI has a 12-month low of $27.25 and a 12-month high of $52.55. The firm has a market capitalization of $2,663.22, a PE ratio of 25.72 and a beta of 0.03. The company has a debt-to-equity ratio of 0.43, a quick ratio of 2.63 and a current ratio of 3.89.
II-VI (NASDAQ:IIVI) last issued its quarterly earnings data on Tuesday, October 31st. The scientific and technical instruments company reported $0.32 earnings per share for the quarter, missing analysts’ consensus estimates of $0.36 by ($0.04). II-VI had a net margin of 9.89% and a return on equity of 12.25%. The company had revenue of $261.50 million for the quarter, compared to the consensus estimate of $255.20 million. During the same period in the previous year, the business earned $0.35 EPS. II-VI’s revenue for the quarter was up 18.1% compared to the same quarter last year. equities analysts expect that II-VI will post 1.55 EPS for the current year.
In other news, VP David G. Wagner sold 6,577 shares of the firm’s stock in a transaction dated Thursday, November 30th. The stock was sold at an average price of $47.63, for a total value of $313,262.51. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Mary Jane Raymond sold 1,000 shares of the firm’s stock in a transaction dated Tuesday, October 31st. The stock was sold at an average price of $45.00, for a total value of $45,000.00. Following the completion of the transaction, the chief financial officer now owns 53,415 shares of the company’s stock, valued at $2,403,675. The disclosure for this sale can be found here. In the last three months, insiders sold 61,712 shares of company stock valued at $2,749,046. Corporate insiders own 3.80% of the company’s stock.
Large investors have recently made changes to their positions in the company. Pinebridge Investments L.P. raised its stake in shares of II-VI by 1.9% in the second quarter. Pinebridge Investments L.P. now owns 7,237 shares of the scientific and technical instruments company’s stock worth $249,000 after purchasing an additional 137 shares during the last quarter. Piedmont Investment Advisors LLC purchased a new position in shares of II-VI in the second quarter worth about $407,000. SG Americas Securities LLC raised its stake in shares of II-VI by 329.0% in the second quarter. SG Americas Securities LLC now owns 15,112 shares of the scientific and technical instruments company’s stock worth $518,000 after purchasing an additional 11,589 shares during the last quarter. Aperio Group LLC raised its stake in shares of II-VI by 3.6% in the second quarter. Aperio Group LLC now owns 22,586 shares of the scientific and technical instruments company’s stock worth $775,000 after purchasing an additional 784 shares during the last quarter. Finally, Bridge City Capital LLC purchased a new position in shares of II-VI in the second quarter worth about $1,295,000. Hedge funds and other institutional investors own 80.54% of the company’s stock.
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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