BidaskClub upgraded shares of II-VI (NASDAQ:IIVI) from a sell rating to a hold rating in a research report released on Tuesday.
IIVI has been the subject of several other research reports. Benchmark reaffirmed a buy rating and set a $44.00 price objective on shares of II-VI in a research note on Wednesday, September 13th. 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 report on Wednesday, September 27th. boosted their target price on shares of II-VI from $50.00 to $56.00 and gave the company a buy rating in a report on Wednesday, November 15th. Craig Hallum reiterated a buy rating and issued a $58.00 target price (up from $50.00) on shares of II-VI in a report on Wednesday, November 1st. Finally, B. Riley boosted their target price on shares of II-VI from $39.50 to $40.50 and gave the company a neutral rating in a report on Wednesday, November 1st. Four research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. The company currently has a consensus rating of Buy and an average price target of $50.64.
Shares of II-VI (IIVI) remained flat at $$46.25 during midday trading on Tuesday. 789,000 shares of the stock were exchanged, compared to its average volume of 690,957. II-VI has a fifty-two week low of $27.25 and a fifty-two week high of $52.55. The company has a market cap of $2,884.64, a PE ratio of 27.86 and a beta of 0.03. The company has a debt-to-equity ratio of 0.43, a quick ratio of 2.63 and a current ratio of 3.89.
In other news, Director Howard H. Xia sold 4,135 shares of the company’s stock in a transaction that occurred on Wednesday, November 22nd. The shares were sold at an average price of $51.58, for a total value of $213,283.30. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, CFO Mary Jane Raymond sold 1,000 shares of the company’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 completion of the transaction, the chief financial officer now owns 53,415 shares in the company, valued at $2,403,675. The disclosure for this sale can be found here. Insiders sold a total of 61,712 shares of company stock worth $2,749,046 over the last quarter. 3.80% of the stock is currently owned by company insiders.
Several hedge funds have recently modified their holdings of IIVI. Aperio Group LLC lifted its holdings in shares of II-VI by 3.6% in the 2nd quarter. Aperio Group LLC now owns 22,586 shares of the scientific and technical instruments company’s stock worth $775,000 after acquiring an additional 784 shares during the last quarter. Rhumbline Advisers lifted its holdings in shares of II-VI by 1.8% in the 2nd quarter. Rhumbline Advisers now owns 131,153 shares of the scientific and technical instruments company’s stock worth $4,499,000 after acquiring an additional 2,375 shares during the last quarter. SG Americas Securities LLC lifted its holdings 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 worth $518,000 after acquiring an additional 11,589 shares during the last quarter. Bridge City Capital LLC acquired a new stake in II-VI during the 2nd quarter worth approximately $1,295,000. Finally, Nationwide Fund Advisors lifted its holdings in II-VI by 0.8% during the 2nd quarter. Nationwide Fund Advisors now owns 41,893 shares of the scientific and technical instruments company’s stock worth $1,437,000 after buying an additional 339 shares in the last quarter. Hedge funds and other institutional investors own 80.54% of the company’s stock.
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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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