II-VI, Inc. (IIVI) Position Cut by Hussman Strategic Advisors Inc.

Hussman Strategic Advisors Inc. reduced its position in shares of II-VI, Inc. (NASDAQ:IIVI) by 25.0% in the 4th quarter, Holdings Channel reports. The firm owned 75,000 shares of the scientific and technical instruments company’s stock after selling 25,000 shares during the quarter. Hussman Strategic Advisors Inc.’s holdings in II-VI were worth $3,521,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in the stock. Schwab Charles Investment Management Inc. increased its position in II-VI by 2.9% during the fourth quarter. Schwab Charles Investment Management Inc. now owns 346,376 shares of the scientific and technical instruments company’s stock worth $16,263,000 after purchasing an additional 9,729 shares during the last quarter. Mutual of America Capital Management LLC increased its position in II-VI by 104.1% during the fourth quarter. Mutual of America Capital Management LLC now owns 139,827 shares of the scientific and technical instruments company’s stock worth $6,565,000 after purchasing an additional 71,331 shares during the last quarter. Assetmark Inc. increased its position in II-VI by 157.5% during the third quarter. Assetmark Inc. now owns 137,616 shares of the scientific and technical instruments company’s stock worth $5,663,000 after purchasing an additional 84,176 shares during the last quarter. Kornitzer Capital Management Inc. KS increased its position in II-VI by 83.0% during the third quarter. Kornitzer Capital Management Inc. KS now owns 137,480 shares of the scientific and technical instruments company’s stock worth $5,657,000 after purchasing an additional 62,335 shares during the last quarter. Finally, Rhumbline Advisers increased its position in II-VI by 2.2% during the third quarter. Rhumbline Advisers now owns 134,008 shares of the scientific and technical instruments company’s stock worth $5,514,000 after purchasing an additional 2,855 shares during the last quarter. Hedge funds and other institutional investors own 80.49% of the company’s stock.

In other II-VI news, VP David G. Wagner sold 6,577 shares of II-VI stock in a transaction dated Thursday, November 30th. The shares were sold at an average price of $47.63, for a total transaction of $313,262.51. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, Director Howard H. Xia sold 4,135 shares of II-VI stock in a transaction dated Wednesday, November 22nd. The shares were sold at an average price of $51.58, for a total transaction of $213,283.30. The disclosure for this sale can be found here. 3.80% of the stock is owned by company insiders.

Several equities research analysts recently issued reports on the stock. BidaskClub upgraded shares of II-VI from a “sell” rating to a “hold” rating in a research report on Tuesday, December 12th. 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 report on Wednesday, November 1st. Zacks Investment Research upgraded shares of II-VI from a “sell” rating to a “buy” rating and set a $47.00 price objective for the company in a research report on Friday, November 3rd. 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 report on Monday, November 13th. Finally, Northland Securities cut shares of II-VI from an “outperform” rating to a “market perform” rating in a research report on Monday, January 22nd. Five equities research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. The stock currently has an average rating of “Buy” and a consensus target price of $53.06.

Shares of II-VI, Inc. (NASDAQ IIVI) traded down $1.85 on Wednesday, hitting $42.65. 1,233,827 shares of the company’s stock were exchanged, compared to its average volume of 747,541. II-VI, Inc. has a 1-year low of $27.25 and a 1-year high of $53.08. The firm has a market capitalization of $2,760.00, a PE ratio of 28.70 and a beta of 0.03. The company has a current ratio of 3.89, a quick ratio of 2.63 and a debt-to-equity ratio of 0.43.

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

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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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Institutional Ownership by Quarter for II-VI (NASDAQ:IIVI)

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