Price Wealth Management Inc. purchased a new stake in II-VI, Inc. (NASDAQ:IIVI) during the second quarter, Holdings Channel reports. The institutional investor purchased 4,464 shares of the scientific and technical instruments company’s stock, valued at approximately $163,000.
A number of other institutional investors also recently added to or reduced their stakes in IIVI. Huntington National Bank acquired a new stake in II-VI during the 2nd quarter worth $29,000. First Interstate Bank boosted its stake in II-VI by 125.0% during the 2nd quarter. First Interstate Bank now owns 900 shares of the scientific and technical instruments company’s stock worth $33,000 after purchasing an additional 500 shares during the last quarter. Advisory Services Network LLC boosted its stake in II-VI by 105.9% during the 1st quarter. Advisory Services Network LLC now owns 1,750 shares of the scientific and technical instruments company’s stock worth $65,000 after purchasing an additional 900 shares during the last quarter. Mint Tower Capital Management B.V. acquired a new stake in II-VI during the 1st quarter worth $73,000. Finally, NumerixS Investment Technologies Inc boosted its stake in II-VI by 398.3% during the 1st quarter. NumerixS Investment Technologies Inc now owns 2,990 shares of the scientific and technical instruments company’s stock worth $110,000 after purchasing an additional 2,390 shares during the last quarter. 94.33% of the stock is currently owned by hedge funds and other institutional investors.
Shares of IIVI stock traded up $0.94 on Thursday, hitting $37.50. 263,275 shares of the stock traded hands, compared to its average volume of 874,753. The firm’s 50-day moving average price is $38.03 and its two-hundred day moving average price is $37.56. The company has a debt-to-equity ratio of 0.39, a quick ratio of 1.91 and a current ratio of 3.00. The stock has a market capitalization of $2.41 billion, a PE ratio of 23.01, a PEG ratio of 0.92 and a beta of 1.09. II-VI, Inc. has a twelve month low of $29.31 and a twelve month high of $50.75.
II-VI (NASDAQ:IIVI) last announced its quarterly earnings results on Tuesday, August 13th. The scientific and technical instruments company reported $0.67 earnings per share for the quarter, beating the consensus estimate of $0.38 by $0.29. The firm had revenue of $362.70 million for the quarter, compared to analysts’ expectations of $348.02 million. II-VI had a net margin of 7.89% and a return on equity of 10.37%. The company’s revenue was up 13.0% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.52 EPS. On average, equities research analysts anticipate that II-VI, Inc. will post 1.84 EPS for the current fiscal year.
IIVI has been the topic of several recent research reports. Needham & Company LLC reaffirmed a “buy” rating and set a $44.00 target price (up previously from $39.00) on shares of II-VI in a research note on Monday, August 12th. BidaskClub raised shares of II-VI from a “hold” rating to a “buy” rating in a research note on Friday, July 26th. Northland Securities reaffirmed a “buy” rating and set a $42.00 target price on shares of II-VI in a research note on Wednesday, August 14th. Craig Hallum reaffirmed a “buy” rating and set a $54.00 target price (up previously from $47.00) on shares of II-VI in a research note on Thursday, May 2nd. Finally, BTIG Research set a $31.00 target price on shares of II-VI and gave the stock a “buy” rating in a research note on Friday, August 9th. Two research analysts have rated the stock with a sell rating, three have given a hold rating and nine have issued a buy rating to the company’s stock. The company has a consensus rating of “Buy” and a consensus target price of $44.27.
In other news, CFO Mary Jane Raymond sold 16,000 shares of the business’s stock in a transaction dated Monday, August 19th. The shares were sold at an average price of $39.25, for a total transaction of $628,000.00. Following the transaction, the chief financial officer now owns 48,427 shares of the company’s stock, valued at approximately $1,900,759.75. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Insiders own 4.00% of the company’s stock.
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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