II-VI Incorporated (NASDAQ:IIVI) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a report released on Tuesday.

According to Zacks, “II-VI Incorporated designs, manufactures and markets optical and opto-electronic components, devices and materials for infrared, near-infrared, visible light, x-ray and gamma ray instrumentation. The Company’s infrared optics business manufactures optical and opto-electronic components sold under the II-VI brand name and used primarily in CO2 lasers. The Company’s near-infrared optics business manufactures near-infrared & visible light products for industrial, scientific, military & medical instruments and laser gain materials and products for solid-state YAG and YLF lasers at the Company’s VLOC subsidiary. The Company’s military infrared optics business manufactures infrared products for military applications under the Exotic Electro-Optics brand name. “

Several other brokerages have also 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 stock a “buy” rating in a report on Monday, August 7th. Benchmark Co. lifted their price target 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. B. Riley lowered shares of II-VI to a “neutral” rating and set a $39.50 price target on the stock. in a report on Monday, July 31st. Finally, Needham & Company LLC reaffirmed a “buy” rating and issued a $50.00 price target (up from $45.00) on shares of II-VI in a report on Wednesday, November 1st. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and five have issued a buy rating to the company. II-VI presently has a consensus rating of “Buy” and a consensus price target of $48.75.

Shares of II-VI (NASDAQ IIVI) opened at $42.00 on Tuesday. The company has a debt-to-equity ratio of 0.43, a current ratio of 3.89 and a quick ratio of 2.63. The stock has a market cap of $2,619.84, a PE ratio of 25.00 and a beta of 0.02. II-VI has a 12 month low of $26.70 and a 12 month high of $46.50.

II-VI (NASDAQ:IIVI) last posted its quarterly earnings results on Tuesday, October 31st. The scientific and technical instruments company reported $0.32 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.36 by ($0.04). II-VI had a net margin of 9.89% and a return on equity of 12.25%. The company had revenue of $261.50 million for the quarter, compared to the consensus estimate of $255.20 million. During the same period in the prior year, the firm posted $0.35 EPS. The business’s revenue was up 18.1% on a year-over-year basis. equities analysts forecast that II-VI will post 1.55 EPS for the current year.

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In other II-VI news, Director Francis J. Kramer sold 25,000 shares of the company’s stock in a transaction dated 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 transaction, the director now owns 286,259 shares in the company, valued at $12,910,280.90. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CFO Mary Jane Raymond sold 1,000 shares of the company’s stock in a transaction dated 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 transaction, the chief financial officer now owns 53,415 shares of the company’s stock, valued at approximately $2,403,675. The disclosure for this sale can be found here. Insiders have sold 51,000 shares of company stock valued at $2,222,500 over the last 90 days. 3.80% of the stock is currently owned by insiders.

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Pinebridge Investments L.P. raised its position in shares of II-VI by 1.9% during the 2nd 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 last quarter. Nationwide Fund Advisors raised its position in shares of II-VI by 0.8% during the 2nd 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 last quarter. Aperio Group LLC raised its position in shares of II-VI by 3.6% during the 2nd quarter. Aperio Group LLC now owns 22,586 shares of the scientific and technical instruments company’s stock worth $775,000 after purchasing an additional 784 shares during the last quarter. Rhumbline Advisers raised its position in shares of II-VI by 1.8% during the 2nd quarter. Rhumbline Advisers now owns 131,153 shares of the scientific and technical instruments company’s stock worth $4,499,000 after purchasing an additional 2,375 shares during the last quarter. Finally, Teachers Advisors LLC raised its position in shares of II-VI by 0.7% during the 1st quarter. Teachers Advisors LLC now owns 384,608 shares of the scientific and technical instruments company’s stock worth $13,865,000 after purchasing an additional 2,857 shares during the last quarter. Hedge funds and other institutional investors own 78.03% of the company’s stock.

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)

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