II-VI Incorporated (NASDAQ:IIVI) had its target price hoisted by investment analysts at Needham & Company LLC from $50.00 to $56.00 in a research note issued to investors on Monday. The firm currently has a “buy” rating on the scientific and technical instruments company’s stock. Needham & Company LLC’s price target points to a potential upside of 18.77% from the company’s previous close.
A number of other brokerages have also recently issued reports on IIVI. BidaskClub raised shares of II-VI from a “hold” rating to a “buy” rating in a report on Wednesday, July 19th. Northland Securities set a $45.00 price target on shares of II-VI and gave the company a “buy” rating in a research report on Monday, August 7th. Benchmark Co. boosted their price target on shares of II-VI from $40.00 to $44.00 and gave the company a “buy” rating in a research report on Tuesday, August 8th. B. Riley lowered shares of II-VI to a “neutral” rating and set a $39.50 price target for the company. in a research report on Monday, July 31st. Finally, Zacks Investment Research upgraded shares of II-VI from a “hold” rating to a “strong-buy” rating and set a $46.00 price target for the company in a research report on Wednesday, September 27th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and five have issued a buy rating to the stock. II-VI presently has a consensus rating of “Buy” and an average target price of $49.75.
Shares of II-VI (NASDAQ:IIVI) opened at $47.15 on Monday. The company has a current ratio of 3.89, a quick ratio of 2.63 and a debt-to-equity ratio of 0.43. II-VI has a 1-year low of $27.25 and a 1-year high of $47.20. The stock has a market cap of $2,940.77, a price-to-earnings ratio of 28.40 and a beta of 0.02.
II-VI (NASDAQ:IIVI) last issued its earnings results on Tuesday, October 31st. The scientific and technical instruments company reported $0.32 earnings per share (EPS) 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 business 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 firm earned $0.35 EPS. The company’s revenue was up 18.1% compared to the same quarter last year. equities research analysts forecast that II-VI will post 1.55 earnings per share for the current fiscal year.
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In other II-VI news, Director Francis J. Kramer sold 25,000 shares of the business’s stock in a transaction on Tuesday, October 31st. The shares were sold at an average price of $45.10, for a total value of $1,127,500.00. Following the completion of the sale, the director now directly owns 286,259 shares of the company’s stock, valued at $12,910,280.90. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Mary Jane Raymond sold 1,000 shares of the business’s stock in a transaction on Tuesday, October 31st. The stock was sold at an average price of $45.00, for a total transaction of $45,000.00. Following the completion of the sale, the chief financial officer now directly owns 53,415 shares of the company’s stock, valued at $2,403,675. The disclosure for this sale can be found here. Insiders sold 51,000 shares of company stock valued at $2,222,500 over the last three months. 3.80% of the stock is currently owned by insiders.
Institutional investors have recently bought and sold shares of the business. Schwab Charles Investment Management Inc. lifted its stake in II-VI by 6.4% in the first quarter. Schwab Charles Investment Management Inc. now owns 313,756 shares of the scientific and technical instruments company’s stock worth $11,311,000 after purchasing an additional 18,919 shares during the last quarter. Piedmont Investment Advisors LLC bought a new position in shares of II-VI during the second quarter valued at about $407,000. Argent Capital Management LLC bought a new position in shares of II-VI during the second quarter valued at about $1,610,000. SG Americas Securities LLC raised its stake in shares of II-VI by 329.0% during the second quarter. SG Americas Securities LLC now owns 15,112 shares of the scientific and technical instruments company’s stock valued at $518,000 after acquiring an additional 11,589 shares during the last quarter. Finally, Geode Capital Management LLC raised its stake in shares of II-VI by 5.7% during the first quarter. Geode Capital Management LLC now owns 458,914 shares of the scientific and technical instruments company’s stock valued at $16,543,000 after acquiring an additional 24,824 shares during the last quarter. 78.35% of the stock is owned by institutional investors and hedge funds.
II-VI Company Profile
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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