ValuEngine Downgrades II-VI (IIVI) to Hold

ValuEngine lowered shares of II-VI (NASDAQ:IIVI) from a buy rating to a hold rating in a research note released on Wednesday morning.

Several other analysts have also weighed in on IIVI. BidaskClub lowered II-VI from a buy rating to a hold rating in a report on Saturday, December 2nd. Northland Securities lowered II-VI from an outperform rating to a market perform rating in a report on Monday, January 22nd. Loop Capital started coverage on II-VI in a report on Monday, January 29th. They issued a buy rating and a $70.00 price objective for the company. Craig Hallum cut their price objective on II-VI to $53.00 and set a buy rating for the company in a report on Friday, February 2nd. Finally, Piper Jaffray started coverage on II-VI in a report on Tuesday, February 13th. They issued an overweight rating and a $50.00 price objective for the company. Three equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. The stock has a consensus rating of Buy and an average price target of $53.50.

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NASDAQ:IIVI opened at $40.90 on Wednesday. II-VI has a 1 year low of $27.25 and a 1 year high of $53.08. The firm has a market capitalization of $2,555.72, a PE ratio of 27.64, a price-to-earnings-growth ratio of 1.52 and a beta of 0.12. The company has a quick ratio of 2.71, a current ratio of 4.01 and a debt-to-equity ratio of 0.48.

II-VI (NASDAQ:IIVI) last announced its quarterly earnings data on Thursday, February 1st. The scientific and technical instruments company reported $0.39 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.37 by $0.02. The business had revenue of $281.50 million during the quarter, compared to analyst estimates of $277.16 million. II-VI had a return on equity of 11.10% and a net margin of 8.08%. The company’s revenue was up 21.4% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.49 earnings per share. sell-side analysts predict that II-VI will post 1.55 earnings per share for the current year.

In other news, CEO Vincent D. Mattera, Jr. sold 8,000 shares of the company’s stock in a transaction on Tuesday, March 20th. The stock was sold at an average price of $47.34, for a total transaction of $378,720.00. Following the completion of the sale, the chief executive officer now directly owns 260,335 shares of the company’s stock, valued at $12,324,258.90. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Corporate insiders own 3.80% of the company’s stock.

Several hedge funds and other institutional investors have recently made changes to their positions in IIVI. Discovery Capital Management LLC CT purchased a new stake in shares of II-VI during the fourth quarter valued at $116,367,000. BlackRock Inc. lifted its holdings in shares of II-VI by 7.5% during the fourth quarter. BlackRock Inc. now owns 7,562,217 shares of the scientific and technical instruments company’s stock valued at $355,046,000 after purchasing an additional 526,660 shares during the last quarter. Victory Capital Management Inc. lifted its holdings in shares of II-VI by 659.8% during the fourth quarter. Victory Capital Management Inc. now owns 460,925 shares of the scientific and technical instruments company’s stock valued at $21,641,000 after purchasing an additional 400,258 shares during the last quarter. Emerald Advisers Inc. PA purchased a new stake in shares of II-VI during the fourth quarter valued at $12,541,000. Finally, Robecosam AG lifted its holdings in shares of II-VI by 520.0% during the fourth quarter. Robecosam AG now owns 310,000 shares of the scientific and technical instruments company’s stock valued at $14,741,000 after purchasing an additional 260,000 shares during the last quarter. 89.12% of the stock is owned by institutional investors and hedge funds.

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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.

To view ValuEngine’s full report, visit ValuEngine’s official website.

Analyst Recommendations for II-VI (NASDAQ:IIVI)

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