Shares of II-VI, Inc. (NASDAQ:IIVI) have earned a consensus recommendation of “Buy” from the eight research firms that are covering the company, MarketBeat Ratings reports. One research analyst has rated the stock with a sell rating, two have given a hold rating and five have assigned a buy rating to the company. The average 12-month target price among brokers that have issued ratings on the stock in the last year is $44.70.

IIVI has been the topic of several research reports. B. Riley downgraded shares of II-VI from a “buy” rating to a “neutral” rating and upped their price objective for the stock from $35.75 to $39.50 in a report on Wednesday, July 26th. Craig Hallum initiated coverage on shares of II-VI in a report on Monday, July 24th. They set a “buy” rating and a $50.00 price objective on the stock. Benchmark Co. upped their price objective on shares of II-VI from $40.00 to $44.00 and gave the stock a “buy” rating in a report on Tuesday, August 8th. BidaskClub downgraded shares of II-VI from a “buy” rating to a “hold” rating in a report on Monday, July 31st. Finally, Needham & Company LLC restated a “buy” rating and set a $45.00 price objective (up previously from $40.00) on shares of II-VI in a report on Wednesday, August 9th.

In related news, VP David G. Wagner sold 4,444 shares of the firm’s stock in a transaction dated Monday, July 10th. The shares were sold at an average price of $36.00, for a total transaction of $159,984.00. Following the completion of the sale, the vice president now owns 45,284 shares in the company, valued at $1,630,224. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Francis J. Kramer sold 20,000 shares of the firm’s stock in a transaction dated Monday, July 24th. The stock was sold at an average price of $40.00, for a total transaction of $800,000.00. The disclosure for this sale can be found here. Company insiders own 6.80% of the company’s stock.

A number of large investors have recently modified their holdings of the business. Piedmont Investment Advisors LLC bought a new position in II-VI during the second quarter worth about $407,000. Argent Capital Management LLC bought a new position in II-VI during the second quarter worth about $1,610,000. Pinebridge Investments L.P. boosted its position in II-VI by 1.9% during 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 period. Nationwide Fund Advisors boosted its position in II-VI by 0.8% during the second quarter. Nationwide Fund Advisors now owns 41,893 shares of the scientific and technical instruments company’s stock worth $1,437,000 after purchasing an additional 339 shares during the period. Finally, Bridge City Capital LLC bought a new position in II-VI during the second quarter worth about $1,295,000. Hedge funds and other institutional investors own 78.25% of the company’s stock.

ILLEGAL ACTIVITY WARNING: “II-VI, Inc. (IIVI) Receives Average Recommendation of “Buy” from Analysts” was reported by Watch List News and is the property of of Watch List News. If you are reading this news story on another website, it was copied illegally and republished in violation of U.S. and international copyright law. The original version of this news story can be accessed at https://www.watchlistnews.com/ii-vi-inc-iivi-receives-average-recommendation-of-buy-from-analysts/1583813.html.

Shares of II-VI (IIVI) opened at 40.40 on Friday. The company’s 50 day moving average is $36.62 and its 200-day moving average is $34.69. The firm has a market capitalization of $2.56 billion, a price-to-earnings ratio of 27.30 and a beta of 0.07. II-VI has a one year low of $22.64 and a one year high of $41.10.

II-VI (NASDAQ:IIVI) last issued its earnings results on Monday, August 7th. The scientific and technical instruments company reported $0.50 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.33 by $0.17. The business had revenue of $273.70 million for the quarter, compared to analyst estimates of $249.90 million. II-VI had a net margin of 11.93% and a return on equity of 14.94%. II-VI’s revenue was up 13.4% on a year-over-year basis. During the same period in the prior year, the firm earned $0.40 earnings per share. Equities analysts expect that II-VI will post $1.83 EPS for the current year.

About II-VI

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.

Analyst Recommendations for II-VI (NASDAQ:IIVI)

Receive News & Ratings for II-VI Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for II-VI Inc. and related companies with Analyst Ratings Network's FREE daily email newsletter.