A number of other equities research analysts have also recently weighed in on IIVI. Northland Securities raised II-VI from a market perform rating to an outperform rating and set a $40.00 price target for the company in a report on Monday, December 31st. They noted that the move was a valuation call. Zacks Investment Research raised II-VI from a sell rating to a hold rating in a report on Friday, January 4th. Piper Jaffray Companies reaffirmed an overweight rating and set a $50.00 price target on shares of II-VI in a report on Friday, February 1st. Benchmark reaffirmed a buy rating and set a $55.00 price target on shares of II-VI in a report on Friday, February 1st. Finally, Morgan Stanley set a $44.00 price target on II-VI and gave the company a hold rating in a report on Saturday, February 2nd. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and eight have given a buy rating to the stock. II-VI presently has a consensus rating of Buy and a consensus target price of $49.09.
Shares of IIVI opened at $41.54 on Tuesday. II-VI has a 1 year low of $29.31 and a 1 year high of $50.75. The company has a quick ratio of 2.00, a current ratio of 3.17 and a debt-to-equity ratio of 0.43. The company has a market capitalization of $2.59 billion, a PE ratio of 24.15, a P/E/G ratio of 1.40 and a beta of 0.83.
In other II-VI news, CFO Mary Jane Raymond sold 2,000 shares of the stock in a transaction on Monday, March 11th. The stock was sold at an average price of $39.00, for a total value of $78,000.00. Following the transaction, the chief financial officer now directly owns 49,464 shares in the company, valued at approximately $1,929,096. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, VP David G. Wagner sold 13,200 shares of the stock in a transaction on Friday, March 1st. The shares were sold at an average price of $42.14, for a total value of $556,248.00. Following the completion of the transaction, the vice president now owns 68,317 shares in the company, valued at $2,878,878.38. The disclosure for this sale can be found here. Insiders sold a total of 83,367 shares of company stock worth $3,340,651 over the last quarter. Corporate insiders own 4.00% of the company’s stock.
A number of institutional investors and hedge funds have recently made changes to their positions in IIVI. Advisory Services Network LLC boosted its position in shares of II-VI by 750.0% in the 4th quarter. Advisory Services Network LLC now owns 850 shares of the scientific and technical instruments company’s stock worth $28,000 after purchasing an additional 750 shares during the last quarter. Winslow Evans & Crocker Inc. bought a new position in shares of II-VI in the 4th quarter worth $34,000. Doyle Wealth Management bought a new position in shares of II-VI in the 4th quarter worth $49,000. FNY Investment Advisers LLC bought a new position in shares of II-VI in the 4th quarter worth $116,000. Finally, Advisors Asset Management Inc. bought a new position in shares of II-VI in the 4th quarter worth $130,000. Hedge funds and other institutional investors own 91.85% of the company’s stock.
II-VI Company Profile
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.
Further Reading: Convertible Shares
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