II-VI Incorporated (IIVI) Receives $40.19 Consensus PT from Brokerages
II-VI Incorporated (NASDAQ:IIVI) has been assigned an average rating of “Buy” from the seven ratings firms that are covering the firm, Marketbeat.com reports. Two analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. The average twelve-month price target among brokers that have issued a report on the stock in the last year is $40.19.
IIVI has been the topic of several research analyst reports. Zacks Investment Research cut shares of II-VI from a “strong-buy” rating to a “hold” rating in a report on Tuesday, March 28th. Benchmark Co. restated a “buy” rating and set a $40.00 price target on shares of II-VI in a report on Tuesday, July 4th. ValuEngine upgraded shares of II-VI from a “hold” rating to a “buy” rating in a report on Thursday, June 1st. BidaskClub upgraded shares of II-VI from a “sell” rating to a “hold” rating in a report on Thursday, June 15th. Finally, Needham & Company LLC restated a “buy” rating and set a $38.00 price target (down from $40.00) on shares of II-VI in a report on Wednesday, May 3rd.
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Shares of II-VI (NASDAQ IIVI) traded up 1.59% on Tuesday, hitting $38.25. The company had a trading volume of 390,046 shares. II-VI has a 12-month low of $19.37 and a 12-month high of $41.10. The company has a market cap of $2.41 billion, a price-to-earnings ratio of 31.85 and a beta of 0.05. The company has a 50 day moving average of $32.52 and a 200-day moving average of $33.48.
II-VI (NASDAQ:IIVI) last posted its quarterly earnings data on Tuesday, May 2nd. The scientific and technical instruments company reported $0.35 earnings per share for the quarter, topping the consensus estimate of $0.32 by $0.03. II-VI had a net margin of 8.19% and a return on equity of 12.49%. The firm had revenue of $245 million for the quarter, compared to analysts’ expectations of $240.55 million. During the same period in the previous year, the company posted $0.35 EPS. The company’s quarterly revenue was up 19.5% compared to the same quarter last year. On average, analysts forecast that II-VI will post $1.33 earnings per share for the current year.
In other news, VP David G. Wagner sold 4,444 shares of the business’s stock in a transaction on Monday, July 10th. The shares were sold at an average price of $36.00, for a total transaction of $159,984.00. Following the transaction, the vice president now directly owns 45,284 shares in the company, valued at approximately $1,630,224. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Wendy F. Dicicco sold 2,500 shares of the business’s stock in a transaction on Friday, April 28th. The shares were sold at an average price of $33.19, for a total transaction of $82,975.00. Following the transaction, the director now owns 33,046 shares in the company, valued at $1,096,796.74. The disclosure for this sale can be found here. Insiders own 6.80% of the company’s stock.
Institutional investors have recently bought and sold shares of the stock. Quadrature Capital Ltd acquired a new stake in shares of II-VI during the fourth quarter worth about $233,000. Russell Investments Group Ltd. acquired a new stake in shares of II-VI during the fourth quarter worth about $3,094,000. Legato Capital Management LLC boosted its stake in shares of II-VI by 3,505.0% in the first quarter. Legato Capital Management LLC now owns 68,279 shares of the scientific and technical instruments company’s stock worth $1,894,000 after buying an additional 66,385 shares in the last quarter. ClariVest Asset Management LLC boosted its stake in shares of II-VI by 14.6% in the first quarter. ClariVest Asset Management LLC now owns 236,915 shares of the scientific and technical instruments company’s stock worth $8,540,000 after buying an additional 30,100 shares in the last quarter. Finally, Macquarie Group Ltd. acquired a new stake in shares of II-VI during the fourth quarter worth about $8,923,000. Institutional investors and hedge funds own 78.37% of the company’s stock.
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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