II-VI (IIVI) Upgraded to “Hold” at BidaskClub

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.

II-VI (NASDAQ:IIVI) last announced its quarterly earnings data on Tuesday, October 31st. The scientific and technical instruments company reported $0.32 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.36 by ($0.04). II-VI had a net margin of 9.89% and a return on equity of 12.25%. The business had revenue of $261.50 million for the quarter, compared to analysts’ expectations of $255.20 million. During the same period in the prior year, the company posted $0.35 EPS. The firm’s revenue was up 18.1% on a year-over-year basis. analysts predict that II-VI will post 1.55 EPS for the current year.

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.

COPYRIGHT VIOLATION NOTICE: “II-VI (IIVI) Upgraded to “Hold” at BidaskClub” was reported by Community Financial News and is the sole property of of Community Financial News. If you are accessing this piece of content on another website, it was copied illegally and reposted in violation of U.S. & international copyright and trademark legislation. The original version of this piece of content can be accessed at https://www.com-unik.info/2017/12/13/ii-vi-iivi-upgraded-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)

Receive News & Ratings for II-VI Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for II-VI and related companies with MarketBeat.com's FREE daily email newsletter.

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