II-VI Incorporated (IIVI) Hits New 1-Year High at $47.05
II-VI Incorporated (NASDAQ:IIVI) shares reached a new 52-week high on Friday . The company traded as high as $47.05 and last traded at $47.15, with a volume of 1122900 shares changing hands. The stock had previously closed at $43.85.
A number of research analysts recently weighed in on IIVI shares. 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 target price on shares of II-VI and gave the company a “buy” rating in a report on Monday, August 7th. Benchmark Co. raised their target price on shares of II-VI from $40.00 to $44.00 and gave the company 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 target price for the company. in a report on Monday, July 31st. Finally, Needham & Company LLC restated a “buy” rating and issued a $50.00 price target (up from $45.00) on shares of II-VI in a research report on Wednesday, November 1st. 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 company presently has an average rating of “Buy” and an average target price of $48.75.
The company has a market cap of $2,850.00, a PE ratio of 26.42 and a beta of 0.02. The company has a quick ratio of 2.63, a current ratio of 3.89 and a debt-to-equity ratio of 0.43.
II-VI (NASDAQ:IIVI) last released its earnings results on Tuesday, October 31st. The scientific and technical instruments company reported $0.32 earnings per share for the quarter, missing the consensus estimate of $0.36 by ($0.04). II-VI had a return on equity of 12.25% and a net margin of 9.89%. The business had revenue of $261.50 million for the quarter, compared to the consensus estimate of $255.20 million. During the same quarter last year, the business posted $0.35 earnings per share. The firm’s revenue for the quarter was up 18.1% compared to the same quarter last year. research analysts predict that II-VI Incorporated will post 1.55 earnings per share for the current fiscal year.
In other news, CFO Mary Jane Raymond sold 1,000 shares of II-VI 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 in the company, valued at $2,403,675. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Francis J. Kramer sold 25,000 shares of II-VI stock in a transaction on Tuesday, October 31st. The stock was sold at an average price of $45.10, for a total value of $1,127,500.00. Following the sale, the director now owns 286,259 shares of the company’s stock, valued at $12,910,280.90. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 51,000 shares of company stock valued at $2,222,500. Corporate insiders own 3.80% of the company’s stock.
Hedge funds have recently added to or reduced their stakes in the stock. Pinebridge Investments L.P. raised its holdings in shares of II-VI by 1.9% in the second quarter. Pinebridge Investments L.P. now owns 7,237 shares of the scientific and technical instruments company’s stock valued at $249,000 after acquiring an additional 137 shares in the last quarter. Paloma Partners Management Co bought a new stake in shares of II-VI in the first quarter valued at about $417,000. Piedmont Investment Advisors LLC bought a new stake in shares of II-VI in the second quarter valued at about $407,000. SG Americas Securities LLC raised its holdings in shares of II-VI by 329.0% in 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 in the last quarter. Finally, Aperio Group LLC raised its holdings in shares of II-VI by 3.6% in the second quarter. Aperio Group LLC now owns 22,586 shares of the scientific and technical instruments company’s stock valued at $775,000 after acquiring an additional 784 shares in the last quarter. Hedge funds and other institutional investors own 78.03% of the company’s stock.
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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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