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.
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.
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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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