II-VI (IIVI) Downgraded to Market Perform at Northland Securities

II-VI (NASDAQ:IIVI) was downgraded by investment analysts at Northland Securities from an “outperform” rating to a “market perform” rating in a research note issued on Monday.

Other research analysts have also issued research reports about the stock. BidaskClub upgraded shares of II-VI from a “hold” rating to a “buy” rating in a research report on Wednesday, January 10th. Needham & Company LLC raised their price objective on shares of II-VI from $50.00 to $56.00 and gave the stock a “buy” rating in a research note on Monday, November 13th. Zacks Investment Research lowered shares of II-VI from a “buy” rating to a “hold” rating in a research note on Tuesday, November 7th. ValuEngine lowered shares of II-VI from a “buy” rating to a “hold” rating in a research note on Friday, December 1st. Finally, B. Riley raised their price objective on shares of II-VI from $39.50 to $40.50 and gave the stock a “neutral” rating in a research note on Wednesday, November 1st. Four research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. II-VI has an average rating of “Buy” and an average price target of $50.64.

II-VI (IIVI) traded up $0.90 during trading on Monday, reaching $52.95. 471,400 shares of the company’s stock traded hands, compared to its average volume of 599,054. 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 firm has a market capitalization of $3,140.00, a price-to-earnings ratio of 34.38 and a beta of 0.03. II-VI has a 12-month low of $27.25 and a 12-month high of $53.08.

II-VI (NASDAQ:IIVI) last posted 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 Thomson Reuters’ consensus estimate of $0.36 by ($0.04). The business had revenue of $261.50 million during 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 quarter last year, the firm posted $0.35 EPS. analysts predict that II-VI will post 1.55 EPS for the current fiscal year.

In other II-VI news, Director Howard H. Xia sold 4,135 shares of II-VI stock in a transaction on Wednesday, November 22nd. The shares were sold at an average price of $51.58, for a total transaction of $213,283.30. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, VP David G. Wagner sold 6,577 shares of II-VI stock in a transaction on Thursday, November 30th. The shares were sold at an average price of $47.63, for a total transaction of $313,262.51. The disclosure for this sale can be found here. Insiders sold a total of 36,712 shares of company stock valued at $1,699,046 in the last ninety days. Company insiders own 3.80% of the company’s stock.

Large investors have recently modified their holdings of the business. Piedmont Investment Advisors LLC acquired a new stake in shares of II-VI during the 2nd quarter valued at $407,000. Argent Capital Management LLC acquired a new stake in shares of II-VI during the 2nd quarter valued at $1,610,000. Kornitzer Capital Management Inc. KS boosted its stake in shares of II-VI by 83.0% during the 3rd quarter. Kornitzer Capital Management Inc. KS now owns 137,480 shares of the scientific and technical instruments company’s stock valued at $5,657,000 after buying an additional 62,335 shares during the period. Assetmark Inc. boosted its stake in shares of II-VI by 157.5% during the 3rd quarter. Assetmark Inc. now owns 137,616 shares of the scientific and technical instruments company’s stock valued at $5,663,000 after buying an additional 84,176 shares during the period. Finally, EAM Investors LLC acquired a new stake in shares of II-VI during the 3rd quarter valued at $2,252,000. 80.49% of the stock is owned by institutional investors.

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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.

Analyst Recommendations for II-VI (NASDAQ:IIVI)

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