II-VI, Inc. (NASDAQ:IIVI) has received an average rating of “Buy” from the fourteen analysts that are currently covering the stock, MarketBeat.com reports. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and eleven have assigned a buy rating to the company. The average 12 month price target among brokers that have issued ratings on the stock in the last year is $52.09.
Several analysts recently weighed in on IIVI shares. BidaskClub upgraded shares of II-VI from a “sell” rating to a “hold” rating in a research report on Friday, March 16th. Zacks Investment Research upgraded shares of II-VI from a “hold” rating to a “buy” rating and set a $50.00 price objective on the stock in a research report on Tuesday, March 20th. ValuEngine downgraded shares of II-VI from a “buy” rating to a “hold” rating in a research report on Thursday, April 26th. Needham & Company LLC dropped their price target on shares of II-VI from $56.00 to $50.00 and set a “buy” rating on the stock in a research report on Wednesday, May 2nd. Finally, Benchmark restated a “buy” rating and set a $52.00 price target on shares of II-VI in a research report on Tuesday, March 27th.
NASDAQ:IIVI traded down $0.10 during mid-day trading on Tuesday, hitting $43.45. The stock had a trading volume of 758,249 shares, compared to its average volume of 594,496. The company has a market cap of $2.72 billion, a PE ratio of 27.68, a P/E/G ratio of 1.83 and a beta of 0.16. II-VI has a 52 week low of $33.65 and a 52 week high of $53.08. The company has a quick ratio of 2.45, a current ratio of 3.68 and a debt-to-equity ratio of 0.45.
II-VI (NASDAQ:IIVI) last issued its quarterly earnings data on Tuesday, May 1st. The scientific and technical instruments company reported $0.36 earnings per share for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.36. The firm had revenue of $294.70 million for the quarter, compared to the consensus estimate of $277.74 million. II-VI had a net margin of 8.41% and a return on equity of 10.75%. II-VI’s quarterly revenue was up 20.3% compared to the same quarter last year. During the same period last year, the firm posted $0.35 EPS. equities 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 business’s stock in a transaction dated Thursday, May 31st. The shares were sold at an average price of $44.09, for a total transaction of $290,068.11. Following the sale, the vice president now directly owns 53,248 shares in the company, valued at approximately $2,347,704.32. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 3.80% of the stock is currently owned by insiders.
Several institutional investors and hedge funds have recently made changes to their positions in IIVI. Discovery Capital Management LLC CT acquired a new position in shares of II-VI in the 4th quarter worth approximately $116,367,000. BlackRock Inc. grew its stake in shares of II-VI by 7.5% in the 4th quarter. BlackRock Inc. now owns 7,562,217 shares of the scientific and technical instruments company’s stock worth $355,046,000 after purchasing an additional 526,660 shares during the last quarter. Robecosam AG grew its stake in shares of II-VI by 520.0% in the 4th quarter. Robecosam AG now owns 310,000 shares of the scientific and technical instruments company’s stock worth $14,741,000 after purchasing an additional 260,000 shares during the last quarter. Carillon Tower Advisers Inc. acquired a new position in shares of II-VI in the 1st quarter worth approximately $7,064,000. Finally, Pier Capital LLC acquired a new position in shares of II-VI in the 4th quarter worth approximately $6,063,000. 95.78% of the stock is currently owned by institutional investors.
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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