Credit Suisse AG decreased its stake in II-VI Incorporated (NASDAQ:IIVI) by 40.3% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 51,613 shares of the scientific and technical instruments company’s stock after selling 34,860 shares during the period. Credit Suisse AG’s holdings in II-VI were worth $1,860,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Zurcher Kantonalbank Zurich Cantonalbank increased its position in shares of II-VI by 91.7% in the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,764 shares of the scientific and technical instruments company’s stock valued at $100,000 after buying an additional 1,322 shares in the last quarter. Meadow Creek Investment Management LLC increased its position in shares of II-VI by 1.9% in the first quarter. Meadow Creek Investment Management LLC now owns 2,996 shares of the scientific and technical instruments company’s stock valued at $108,000 after buying an additional 56 shares in the last quarter. Glen Harbor Capital Management LLC increased its position in shares of II-VI by 1.9% in the first quarter. Glen Harbor Capital Management LLC now owns 3,638 shares of the scientific and technical instruments company’s stock valued at $131,000 after buying an additional 68 shares in the last quarter. Mutual of America Capital Management LLC acquired a new position in shares of II-VI during the first quarter valued at approximately $180,000. Finally, LS Investment Advisors LLC increased its position in shares of II-VI by 158.9% in the first quarter. LS Investment Advisors LLC now owns 5,061 shares of the scientific and technical instruments company’s stock valued at $182,000 after buying an additional 3,106 shares in the last quarter. 78.41% of the stock is currently owned by hedge funds and other institutional investors.

II-VI Incorporated (IIVI) traded down 0.70% during mid-day trading on Friday, hitting $35.50. The stock had a trading volume of 131,677 shares. II-VI Incorporated has a 12 month low of $21.02 and a 12 month high of $41.10. The firm’s 50-day moving average is $36.56 and its 200 day moving average is $34.85. The company has a market cap of $2.24 billion, a price-to-earnings ratio of 23.99 and a beta of 0.07.

II-VI (NASDAQ:IIVI) last issued its quarterly 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. II-VI had a return on equity of 12.94% and a net margin of 9.80%. The firm had revenue of $273.70 million during the quarter, compared to analyst estimates of $249.90 million. During the same quarter in the previous year, the company posted $0.40 earnings per share. The company’s revenue was up 13.4% compared to the same quarter last year. Equities analysts anticipate that II-VI Incorporated will post $1.84 EPS for the current fiscal year.

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Several analysts recently issued reports on IIVI shares. ValuEngine upgraded II-VI from a “hold” rating to a “buy” rating in a research note on Thursday, June 1st. Benchmark Co. restated a “buy” rating on shares of II-VI in a research note on Sunday, June 25th. Needham & Company LLC restated a “buy” rating and issued a $38.00 price target (down from $40.00) on shares of II-VI in a research note on Wednesday, May 3rd. Northland Securities started coverage on II-VI in a research note on Thursday, July 6th. They issued an “outperform” rating and a $45.00 price target for the company. Finally, BidaskClub upgraded II-VI from a “sell” rating to a “hold” rating in a research note on Thursday, June 15th. Three equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. The stock currently has a consensus rating of “Buy” and a consensus target price of $44.25.

In other II-VI news, VP David G. Wagner sold 4,444 shares of II-VI stock in a transaction dated Monday, July 10th. The stock was 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 of the company’s stock, valued at $1,630,224. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Francis J. Kramer sold 20,000 shares of II-VI stock in a transaction dated Monday, July 24th. The stock was sold at an average price of $40.00, for a total value of $800,000.00. The disclosure for this sale can be found here. Insiders own 6.80% of the company’s stock.

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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Institutional Ownership by Quarter for II-VI (NASDAQ:IIVI)

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