II-VI (IIVI) PT Set at $41.00 by Northland Securities
Northland Securities set a $41.00 price target on II-VI (NASDAQ:IIVI) in a report published on Monday, TipRanks reports. The firm currently has a buy rating on the scientific and technical instruments company’s stock.
Several other equities analysts have also weighed in on IIVI. Zacks Investment Research upgraded shares of II-VI from a hold rating to a buy rating and set a $37.00 price target for the company in a research report on Tuesday, January 22nd. Piper Jaffray Companies restated an overweight rating and set a $50.00 price target on shares of II-VI in a research report on Friday, February 1st. Benchmark reiterated a buy rating and set a $55.00 target price on shares of II-VI in a research report on Friday, February 1st. Morgan Stanley set a $44.00 target price on shares of II-VI and gave the stock a hold rating in a research report on Saturday, February 2nd. Finally, BidaskClub lowered shares of II-VI from a hold rating to a sell rating in a research report on Tuesday, February 12th. Three equities research analysts have rated the stock with a sell rating, three have given a hold rating and eight have issued a buy rating to the company. The company has a consensus rating of Hold and an average target price of $49.82.
IIVI opened at $32.90 on Monday. The stock has a market cap of $2.08 billion, a P/E ratio of 19.13, a P/E/G ratio of 1.20 and a beta of 0.83. The company has a debt-to-equity ratio of 0.44, a current ratio of 3.41 and a quick ratio of 2.15. II-VI has a fifty-two week low of $29.31 and a fifty-two week high of $50.75.
In other II-VI news, CFO Mary Jane Raymond sold 2,000 shares of the stock in a transaction dated Monday, March 11th. The shares were sold at an average price of $39.00, for a total transaction of $78,000.00. Following the completion of the transaction, the chief financial officer now owns 49,464 shares in the company, valued at $1,929,096. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, VP David G. Wagner sold 13,200 shares of the stock in a transaction dated Friday, March 1st. The stock was sold at an average price of $42.14, for a total transaction of $556,248.00. Following the completion of the sale, the vice president now directly owns 68,317 shares in the company, valued at $2,878,878.38. The disclosure for this sale can be found here. Insiders have sold 81,050 shares of company stock valued at $3,263,657 in the last quarter. Company insiders own 4.00% of the company’s stock.
Several institutional investors have recently made changes to their positions in IIVI. Victory Capital Management Inc. lifted its holdings in shares of II-VI by 105.4% in the fourth quarter. Victory Capital Management Inc. now owns 916,525 shares of the scientific and technical instruments company’s stock worth $29,750,000 after buying an additional 470,350 shares in the last quarter. Eagle Asset Management Inc. purchased a new stake in shares of II-VI in the first quarter worth about $10,693,000. Daruma Capital Management LLC lifted its holdings in shares of II-VI by 49.6% in the first quarter. Daruma Capital Management LLC now owns 836,407 shares of the scientific and technical instruments company’s stock worth $31,148,000 after buying an additional 277,364 shares in the last quarter. Millennium Management LLC purchased a new stake in shares of II-VI in the fourth quarter worth about $8,580,000. Finally, DNB Asset Management AS lifted its holdings in shares of II-VI by 92.4% in the first quarter. DNB Asset Management AS now owns 540,900 shares of the scientific and technical instruments company’s stock worth $20,154,000 after buying an additional 259,800 shares in the last quarter. 90.46% of the stock is currently owned by hedge funds and other institutional investors.
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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