Benchmark Co. restated their buy rating on shares of II-VI Incorporated (NASDAQ:IIVI) in a report released on Tuesday, StockTargetPrices.com reports. They currently have a $40.00 price target on the scientific and technical instruments company’s stock.
A number of other brokerages have also issued reports on IIVI. Zacks Investment Research lowered II-VI from a strong-buy rating to a hold rating in a research note on Tuesday, March 28th. Needham & Company LLC raised their target price on II-VI from $38.00 to $40.00 and gave the stock a buy rating in a research note on Wednesday, June 21st. BidaskClub upgraded II-VI from a sell rating to a hold rating in a research note on Thursday, June 15th. B. Riley restated a buy rating and issued a $35.75 target price on shares of II-VI in a research note on Monday, May 8th. Finally, ValuEngine upgraded II-VI from a hold rating to a buy rating in a research note on Thursday, June 1st. Two research analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. II-VI currently has an average rating of Buy and a consensus target price of $40.55.
Shares of II-VI (NASDAQ:IIVI) traded up 0.42% during mid-day trading on Tuesday, hitting $35.60. The company had a trading volume of 82,757 shares. The company has a market capitalization of $2.25 billion, a price-to-earnings ratio of 29.64 and a beta of 0.05. The company has a 50-day moving average price of $32.52 and a 200-day moving average price of $33.48. II-VI has a 1-year low of $18.52 and a 1-year high of $41.10.
II-VI (NASDAQ:IIVI) last issued its earnings results on Tuesday, May 2nd. The scientific and technical instruments company reported $0.35 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.32 by $0.03. The company had revenue of $245 million during the quarter, compared to analyst estimates of $240.55 million. II-VI had a return on equity of 12.49% and a net margin of 8.19%. The firm’s quarterly revenue was up 19.5% on a year-over-year basis. During the same quarter last year, the business posted $0.35 EPS. On average, equities analysts anticipate that II-VI will post $1.33 EPS for the current year.
In other II-VI news, Director Wendy F. Dicicco sold 2,500 shares of II-VI stock in a transaction dated Friday, April 28th. The stock was sold at an average price of $33.19, for a total transaction of $82,975.00. Following the completion of the transaction, the director now owns 33,046 shares in the company, valued at approximately $1,096,796.74. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 6.80% of the company’s stock.
Several large investors have recently bought and sold shares of IIVI. Miles Capital Inc. boosted its stake in II-VI by 0.3% in the first quarter. Miles Capital Inc. now owns 9,204 shares of the scientific and technical instruments company’s stock worth $332,000 after buying an additional 25 shares during the period. Meadow Creek Investment Management LLC boosted its stake in 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 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. State of Alaska Department of Revenue boosted its stake in II-VI by 1.9% in the first quarter. State of Alaska Department of Revenue now owns 6,010 shares of the scientific and technical instruments company’s stock worth $216,000 after buying an additional 110 shares during the period. Finally, HGK Asset Management Inc. boosted its stake in II-VI by 0.8% in the first quarter. HGK Asset Management Inc. now owns 15,344 shares of the scientific and technical instruments company’s stock worth $553,000 after buying an additional 124 shares during the period. Hedge funds and other institutional investors own 78.37% 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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