II-VI Incorporated (NASDAQ:IIVI) CFO Mary Jane Raymond sold 1,000 shares of the firm’s stock in a transaction that occurred on Tuesday, October 31st. The stock was sold at an average price of $45.00, for a total transaction of $45,000.00. Following the sale, the chief financial officer now directly owns 53,415 shares in the company, valued at approximately $2,403,675. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.
II-VI Incorporated (IIVI) traded down $2.80 during midday trading on Friday, hitting $41.50. 667,155 shares of the stock were exchanged, compared to its average volume of 654,451. The firm has a market cap of $2.61 billion, a P/E ratio of 25.06 and a beta of 0.02. II-VI Incorporated has a one year low of $26.70 and a one year high of $46.50. The company has a debt-to-equity ratio of 0.43, a quick ratio of 2.70 and a current ratio of 3.89.
II-VI (NASDAQ:IIVI) last issued its quarterly earnings results on Tuesday, October 31st. The scientific and technical instruments company reported $0.32 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.36 by ($0.04). The company had revenue of $261.50 million for the quarter, compared to analyst estimates of $255.20 million. II-VI had a return on equity of 12.25% and a net margin of 9.89%. The company’s quarterly revenue was up 18.1% compared to the same quarter last year. During the same period in the prior year, the company earned $0.35 EPS. analysts expect that II-VI Incorporated will post 1.56 EPS for the current fiscal year.
A number of analysts have weighed in on IIVI shares. BidaskClub raised shares of II-VI from a “hold” rating to a “buy” rating in a report on Wednesday, July 19th. Craig Hallum started coverage on shares of II-VI in a research report on Monday, July 24th. They set a “buy” rating and a $50.00 target price on the stock. B. Riley lowered shares of II-VI from a “buy” rating to a “neutral” rating and raised their target price for the stock from $35.75 to $39.50 in a research report on Wednesday, July 26th. Northland Securities set a $45.00 target price on shares of II-VI and gave the stock a “buy” rating in a research report on Monday, August 7th. Finally, Benchmark Co. raised their target price on shares of II-VI from $40.00 to $44.00 and gave the stock a “buy” rating in a research report on Tuesday, August 8th. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and six have assigned a buy rating to the stock. The company has a consensus rating of “Buy” and a consensus target price of $48.75.
Several institutional investors and hedge funds have recently made changes to their positions in IIVI. Pinebridge Investments L.P. lifted its stake in shares of II-VI by 1.9% in the 2nd quarter. Pinebridge Investments L.P. now owns 7,237 shares of the scientific and technical instruments company’s stock valued at $249,000 after acquiring an additional 137 shares during the last quarter. Piedmont Investment Advisors LLC bought a new position in shares of II-VI in the 2nd quarter valued at $407,000. Paloma Partners Management Co bought a new position in shares of II-VI in the 1st quarter valued at $417,000. SG Americas Securities LLC lifted its stake in shares of II-VI by 329.0% in the 2nd quarter. SG Americas Securities LLC now owns 15,112 shares of the scientific and technical instruments company’s stock valued at $518,000 after acquiring an additional 11,589 shares during the last quarter. Finally, OppenheimerFunds Inc. raised its position in II-VI by 22.6% during the 1st quarter. OppenheimerFunds Inc. now owns 21,405 shares of the scientific and technical instruments company’s stock worth $771,000 after purchasing an additional 3,948 shares during the last quarter. Institutional investors own 78.17% of the company’s stock.
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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