II-VI (IIVI) Lowered to Hold at BidaskClub

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

A number of other research firms have also weighed in on IIVI. B. Riley restated a neutral rating and set a $39.50 target price on shares of II-VI in a research note on Thursday, August 10th. Benchmark upped their target price on shares of II-VI from $40.00 to $44.00 and gave the stock a buy rating in a research note on Tuesday, August 8th. Needham & Company LLC restated a buy rating and set a $45.00 target price (up from $40.00) on shares of II-VI in a research note on Wednesday, August 9th. ValuEngine lowered shares of II-VI from a buy rating to a hold rating in a research note on Friday, December 1st. Finally, Zacks Investment Research upgraded shares of II-VI from a hold rating to a strong-buy rating and set a $46.00 target price on the stock in a research note on Wednesday, September 27th. Four research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. II-VI presently has a consensus rating of Buy and a consensus target price of $50.64.

Shares of II-VI (NASDAQ:IIVI) opened at $42.70 on Friday. The company has a debt-to-equity ratio of 0.43, a quick ratio of 2.63 and a current ratio of 3.89. The stock has a market cap of $2,670.00, a PE ratio of 27.50 and a beta of 0.03. II-VI has a one year low of $27.25 and a one year high of $52.55.

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 business had revenue of $261.50 million for the quarter, compared to analysts’ expectations of $255.20 million. II-VI had a return on equity of 12.25% and a net margin of 9.89%. The firm’s revenue for the quarter was up 18.1% on a year-over-year basis. During the same quarter last year, the company earned $0.35 earnings per share. sell-side analysts anticipate that II-VI will post 1.55 EPS for the current fiscal year.

In other news, VP David G. Wagner sold 6,577 shares of the stock in a transaction that occurred on Thursday, November 30th. The stock was sold at an average price of $47.63, for a total value of $313,262.51. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Francis J. Kramer sold 25,000 shares of the stock in a transaction that occurred on Monday, October 2nd. The shares were sold at an average price of $42.00, for a total value of $1,050,000.00. The disclosure for this sale can be found here. Insiders sold 61,712 shares of company stock valued at $2,749,046 over the last ninety days. 3.80% of the stock is currently owned by corporate insiders.

Hedge funds have recently bought and sold shares of the company. Pinebridge Investments L.P. boosted its holdings in shares of II-VI by 1.9% in the second 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 period. Piedmont Investment Advisors LLC acquired a new stake in shares of II-VI in the second quarter valued at approximately $407,000. SG Americas Securities LLC boosted its holdings in shares of II-VI by 329.0% in the second 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 period. Aperio Group LLC boosted its holdings in shares of II-VI by 3.6% in the second quarter. Aperio Group LLC now owns 22,586 shares of the scientific and technical instruments company’s stock valued at $775,000 after acquiring an additional 784 shares during the period. Finally, Bridge City Capital LLC acquired a new stake in shares of II-VI in the second quarter valued at approximately $1,295,000. 80.54% of the stock is owned by institutional investors and hedge funds.

TRADEMARK VIOLATION NOTICE: This article was originally published by Community Financial News and is owned by of Community Financial News. If you are viewing this article on another domain, it was copied illegally and republished in violation of international trademark & copyright legislation. The original version of this article can be accessed at https://www.com-unik.info/2017/12/06/ii-vi-iivi-lowered-to-hold-at-bidaskclub.html.

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.

Analyst Recommendations for II-VI (NASDAQ:IIVI)

What are top analysts saying about II-VI Incorporated? - Enter your email address in the form below to receive our free daily email newsletter that contains the latest headlines and analysts' recommendations for for II-VI Incorporated and related companies.

Comments

Leave a Reply


share news on Facebook
tweet this investment news
share on linkedin
share on StockTwits
share on Google Plus
share on reddit