Morgan Stanley decreased its position in II-VI Incorporated (NASDAQ:IIVI) by 67.9% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 127,146 shares of the scientific and technical instruments company’s stock after selling 269,198 shares during the period. Morgan Stanley’s holdings in II-VI were worth $4,584,000 as of its most recent SEC filing.

Several other large investors have also recently added to or reduced their stakes in IIVI. Zurcher Kantonalbank Zurich Cantonalbank boosted its stake 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 worth $100,000 after buying an additional 1,322 shares during the period. Meadow Creek Investment Management LLC boosted its stake 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 worth $108,000 after buying an additional 56 shares during the period. Glen Harbor Capital Management LLC boosted its stake 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 worth $131,000 after buying an additional 68 shares during the period. Mutual of America Capital Management LLC bought a new stake in shares of II-VI during the first quarter worth approximately $180,000. Finally, LS Investment Advisors LLC boosted its stake 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 worth $182,000 after buying an additional 3,106 shares during the period. Institutional investors own 78.41% of the company’s stock.

II-VI Incorporated (NASDAQ:IIVI) traded up 0.28% on Friday, reaching $35.85. The company’s stock had a trading volume of 72,753 shares. The firm’s 50-day moving average price is $36.56 and its 200-day moving average price is $34.85. II-VI Incorporated has a 52-week low of $21.02 and a 52-week high of $41.10. The stock has a market cap of $2.26 billion, a price-to-earnings ratio of 24.22 and a beta of 0.07.

II-VI (NASDAQ:IIVI) last posted its quarterly earnings data on Monday, August 7th. The scientific and technical instruments company reported $0.50 earnings per share 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 period last year, the company posted $0.40 EPS. The business’s quarterly revenue was up 13.4% on a year-over-year basis. On average, equities analysts expect that II-VI Incorporated will post $1.84 earnings per share for the current year.

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A number of equities research analysts recently commented on the company. BidaskClub raised II-VI from a “sell” rating to a “hold” rating in a research note on Thursday, June 15th. Needham & Company LLC lifted their price objective on II-VI from $38.00 to $40.00 and gave the stock a “buy” rating in a research note on Wednesday, June 21st. B. Riley cut II-VI from a “buy” rating to a “neutral” rating and lifted their price objective for the stock from $35.75 to $39.50 in a research note on Wednesday, July 26th. Craig Hallum assumed coverage on II-VI in a research note on Monday, July 24th. They set a “buy” rating and a $50.00 price objective for the company. Finally, Benchmark Co. reaffirmed a “buy” rating on shares of II-VI in a research note on Sunday, June 25th. Three research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. II-VI has an average rating of “Buy” and a consensus target price of $44.25.

In other 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 value of $159,984.00. Following the completion of the transaction, the vice president now directly owns 45,284 shares of the company’s stock, valued at approximately $1,630,224. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. 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. Company insiders own 6.80% 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.

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

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