Royce & Associates LP lowered its holdings in II-VI, Inc. (NASDAQ:IIVI) by 16.5% in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 356,727 shares of the scientific and technical instruments company’s stock after selling 70,469 shares during the period. Royce & Associates LP owned approximately 0.56% of II-VI worth $16,873,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also bought and sold shares of the company. Eaton Vance Management grew its holdings in II-VI by 99.7% during the 3rd quarter. Eaton Vance Management now owns 90,154 shares of the scientific and technical instruments company’s stock worth $4,264,000 after acquiring an additional 45,000 shares during the last quarter. Hsbc Holdings PLC boosted its stake in shares of II-VI by 242.2% in the 3rd quarter. Hsbc Holdings PLC now owns 19,804 shares of the scientific and technical instruments company’s stock valued at $936,000 after purchasing an additional 14,016 shares during the last quarter. Blair William & Co. IL boosted its stake in shares of II-VI by 19.3% in the 3rd quarter. Blair William & Co. IL now owns 14,558 shares of the scientific and technical instruments company’s stock valued at $689,000 after purchasing an additional 2,353 shares during the last quarter. Great West Life Assurance Co. Can boosted its stake in shares of II-VI by 5.7% in the 3rd quarter. Great West Life Assurance Co. Can now owns 74,085 shares of the scientific and technical instruments company’s stock valued at $3,501,000 after purchasing an additional 4,000 shares during the last quarter. Finally, Trexquant Investment LP bought a new stake in shares of II-VI in the 3rd quarter valued at $595,000. 89.60% of the stock is owned by hedge funds and other institutional investors.
A number of equities research analysts have recently commented on IIVI shares. ValuEngine lowered shares of II-VI from a “buy” rating to a “hold” rating in a research note on Tuesday, October 2nd. DA Davidson started coverage on shares of II-VI in a research note on Tuesday, October 23rd. They issued a “buy” rating on the stock. Morgan Stanley reduced their price objective on shares of II-VI from $48.00 to $41.00 and set a “hold” rating on the stock in a research note on Tuesday, November 13th. B. Riley lowered shares of II-VI from a “buy” rating to a “neutral” rating in a research note on Friday, November 2nd. Finally, Piper Jaffray Companies upped their price objective on shares of II-VI to $57.00 and gave the company an “overweight” rating in a research note on Tuesday, August 7th. Two equities research analysts have rated the stock with a sell rating, five have given a hold rating and seven have assigned a buy rating to the stock. The company presently has an average rating of “Hold” and an average price target of $50.92.
NASDAQ:IIVI opened at $37.42 on Tuesday. The company has a debt-to-equity ratio of 0.50, a quick ratio of 2.45 and a current ratio of 3.63. II-VI, Inc. has a 52 week low of $31.92 and a 52 week high of $53.08. The firm has a market capitalization of $2.38 billion, a PE ratio of 21.76, a PEG ratio of 1.23 and a beta of 0.68.
II-VI (NASDAQ:IIVI) last issued its earnings results on Thursday, November 1st. The scientific and technical instruments company reported $0.56 earnings per share (EPS) for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.56. The business had revenue of $314.40 million for the quarter, compared to analyst estimates of $310.92 million. II-VI had a net margin of 7.68% and a return on equity of 10.89%. II-VI’s revenue was up 20.2% on a year-over-year basis. During the same period in the prior year, the firm earned $0.32 earnings per share. Equities research analysts forecast that II-VI, Inc. will post 1.8 earnings per share for the current year.
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II-VI Incorporated develops, manufactures, and markets engineered materials, and optoelectronic components and devices worldwide. The company operates in three segments: II-VI Laser Solutions, II-VI Photonics, and II-VI Performance Products. The II-VI Laser Solutions segment offers optical and electro-optical components and materials primarily used in high-power CO2 lasers; fiber-delivered beam delivery systems, and processing tools and direct diode lasers for industrial lasers; direct diode laser modules, sub-systems, and systems; super-hard materials processing laser systems; and compound semiconductor epitaxial and gallium arsenide wafers.
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