Texas Permanent School Fund decreased its holdings in II-VI, Inc. (NASDAQ:IIVI) by 17.2% in the first quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 32,398 shares of the scientific and technical instruments company’s stock after selling 6,713 shares during the quarter. Texas Permanent School Fund’s holdings in II-VI were worth $1,207,000 as of its most recent filing with the SEC.

Several other hedge funds have also made changes to their positions in IIVI. Advisory Services Network LLC raised its stake in shares of II-VI by 750.0% in the 4th quarter. Advisory Services Network LLC now owns 850 shares of the scientific and technical instruments company’s stock valued at $28,000 after buying an additional 750 shares in the last quarter. Winslow Evans & Crocker Inc. acquired a new position in shares of II-VI in the 4th quarter valued at $34,000. Versant Capital Management Inc increased its position in shares of II-VI by 578.4% during the 1st quarter. Versant Capital Management Inc now owns 1,289 shares of the scientific and technical instruments company’s stock worth $48,000 after purchasing an additional 1,099 shares in the last quarter. Doyle Wealth Management acquired a new stake in shares of II-VI during the 4th quarter worth about $49,000. Finally, Advisors Asset Management Inc. acquired a new stake in shares of II-VI during the 4th quarter worth about $130,000. Institutional investors own 92.27% of the company’s stock.

Shares of II-VI stock opened at $32.67 on Friday. The stock has a market cap of $2.08 billion, a P/E ratio of 18.99, a PEG ratio of 1.26 and a beta of 0.83. The company has a quick ratio of 2.15, a current ratio of 3.41 and a debt-to-equity ratio of 0.44. II-VI, Inc. has a 12-month low of $29.31 and a 12-month high of $50.75.

II-VI (NASDAQ:IIVI) last posted its quarterly earnings data on Wednesday, May 1st. The scientific and technical instruments company reported $0.62 earnings per share for the quarter, beating the consensus estimate of $0.41 by $0.21. The firm had revenue of $342.40 million during the quarter, compared to analysts’ expectations of $339.93 million. II-VI had a net margin of 8.07% and a return on equity of 10.77%. The company’s quarterly revenue was up 16.2% compared to the same quarter last year. During the same quarter last year, the company posted $0.36 EPS. As a group, equities research analysts forecast that II-VI, Inc. will post 1.6 EPS for the current fiscal year.

A number of brokerages recently issued reports on IIVI. Needham & Company LLC reiterated a “buy” rating and set a $46.00 target price (down previously from $48.00) on shares of II-VI in a research report on Thursday, May 2nd. Benchmark reiterated a “buy” rating and set a $57.00 target price (up previously from $55.00) on shares of II-VI in a research report on Thursday, May 2nd. Northland Securities set a $41.00 target price on shares of II-VI and gave the stock a “buy” rating in a research report on Monday, May 20th. BidaskClub cut shares of II-VI from a “sell” rating to a “strong sell” rating in a research report on Friday. Finally, Craig Hallum reiterated a “buy” rating and set a $54.00 target price (up previously from $47.00) on shares of II-VI in a research report on Thursday, May 2nd. Three equities research analysts have rated the stock with a sell rating, three have issued a hold rating and eight have issued a buy rating to the stock. The stock currently has an average rating of “Hold” and an average target price of $49.82.

In other II-VI news, CFO Mary Jane Raymond sold 2,000 shares of the firm’s stock in a transaction dated Monday, March 11th. The shares were sold at an average price of $39.00, for a total value of $78,000.00. Following the completion of the sale, the chief financial officer now owns 49,464 shares in the company, valued at approximately $1,929,096. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Francis J. Kramer sold 30,000 shares of the firm’s stock in a transaction dated Monday, March 11th. The shares were sold at an average price of $39.62, for a total transaction of $1,188,600.00. Following the completion of the sale, the director now owns 192,647 shares of the company’s stock, valued at approximately $7,632,674.14. The disclosure for this sale can be found here. Insiders sold a total of 81,050 shares of company stock valued at $3,263,657 in the last 90 days. Corporate insiders own 4.00% of the company’s stock.

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II-VI Profile

II-VI Incorporated develops, manufactures, and markets engineered materials, and optoelectronic components and devices worldwide. The company operates in three segments: II-VI Laser Solutions, II-VI Photonics, and II-VI Performance Products. The II-VI Laser Solutions segment offers optical and electro-optical components and materials primarily used in high-power CO2 lasers; fiber-delivered beam delivery systems, and processing tools and direct diode lasers for industrial lasers; direct diode laser modules, sub-systems, and systems; super-hard materials processing laser systems; and compound semiconductor epitaxial and gallium arsenide wafers.

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

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