HGK Asset Management Inc. lifted its holdings in shares of II-VI, Inc. (NASDAQ:IIVI) by 9.4% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 11,254 shares of the scientific and technical instruments company’s stock after purchasing an additional 970 shares during the quarter. HGK Asset Management Inc.’s holdings in II-VI were worth $411,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Geode Capital Management LLC raised its position in shares of II-VI by 12.4% during the fourth quarter. Geode Capital Management LLC now owns 686,345 shares of the scientific and technical instruments company’s stock worth $22,278,000 after purchasing an additional 75,549 shares during the period. DNB Asset Management AS raised its position in II-VI by 92.4% in the 1st quarter. DNB Asset Management AS now owns 540,900 shares of the scientific and technical instruments company’s stock valued at $20,154,000 after buying an additional 259,800 shares during the last quarter. Paradigm Capital Management Inc. NY raised its position in II-VI by 2.1% in the 1st quarter. Paradigm Capital Management Inc. NY now owns 287,600 shares of the scientific and technical instruments company’s stock valued at $10,711,000 after buying an additional 6,000 shares during the last quarter. Eagle Asset Management Inc. acquired a new stake in II-VI in the 1st quarter valued at approximately $10,693,000. Finally, Millennium Management LLC acquired a new stake in II-VI in the 4th quarter valued at approximately $8,580,000. 90.84% of the stock is currently owned by institutional investors.
A number of equities research analysts recently issued reports on IIVI shares. Zacks Investment Research raised HB Fuller from a “sell” rating to a “hold” rating in a research report on Wednesday, July 3rd. Needham & Company LLC lifted their target price on Alteryx to $108.00 and gave the company a “buy” rating in a research report on Thursday, May 2nd. BidaskClub lowered Zai Lab from a “strong-buy” rating to a “buy” rating in a research report on Friday. ValuEngine lowered Virtu Financial from a “hold” rating to a “sell” rating in a research report on Tuesday, June 18th. Finally, Benchmark reissued a “buy” rating and issued a $130.00 target price (up previously from $124.00) on shares of TAKE-TWO INTERACTIVE SOFTWARE in a research report on Monday, June 17th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and ten have given a buy rating to the company’s stock. II-VI presently has an average rating of “Buy” and a consensus target price of $49.83.
Shares of NASDAQ:IIVI traded down $0.67 during trading on Tuesday, hitting $40.06. 37,930 shares of the company were exchanged, compared to its average volume of 570,024. The stock has a market capitalization of $2.59 billion, a PE ratio of 23.26, a price-to-earnings-growth ratio of 1.14 and a beta of 1.10. II-VI, Inc. has a fifty-two week low of $29.31 and a fifty-two week high of $50.75. The firm has a fifty day simple moving average of $36.58. The company has a current ratio of 3.41, a quick ratio of 2.15 and a debt-to-equity ratio of 0.44.
II-VI (NASDAQ:IIVI) last posted its quarterly earnings results on Wednesday, May 1st. The scientific and technical instruments company reported $0.62 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.41 by $0.21. The firm had revenue of $342.40 million for the quarter, compared to analyst estimates of $339.93 million. II-VI had a return on equity of 10.77% and a net margin of 8.07%. The business’s quarterly revenue was up 16.2% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.36 EPS. As a group, sell-side analysts predict that II-VI, Inc. will post 1.6 EPS for the current fiscal year.
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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