II-VI, Inc. (NASDAQ:IIVI) CFO Mary Jane Raymond sold 16,000 shares of the firm’s stock in a transaction that occurred on Monday, August 19th. The shares were sold at an average price of $39.25, for a total value of $628,000.00. Following the transaction, the chief financial officer now directly owns 48,427 shares of the company’s stock, valued at approximately $1,900,759.75. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link.
II-VI stock opened at $38.70 on Friday. The firm has a market cap of $2.48 billion, a price-to-earnings ratio of 22.55, a PEG ratio of 0.97 and a beta of 1.09. The stock has a fifty day simple moving average of $38.04 and a two-hundred day simple moving average of $37.58. II-VI, Inc. has a 12 month low of $29.31 and a 12 month high of $50.75. The company has a current ratio of 3.00, a quick ratio of 1.91 and a debt-to-equity ratio of 0.39.
II-VI (NASDAQ:IIVI) last posted its earnings results on Tuesday, August 13th. The scientific and technical instruments company reported $0.67 EPS for the quarter, topping the Zacks’ consensus estimate of $0.38 by $0.29. The business had revenue of $362.70 million during the quarter, compared to analyst estimates of $348.02 million. II-VI had a return on equity of 10.37% and a net margin of 7.89%. The company’s quarterly revenue was up 13.0% compared to the same quarter last year. During the same quarter last year, the company earned $0.52 EPS. On average, equities research analysts forecast that II-VI, Inc. will post 1.84 EPS for the current fiscal year.
A number of research analysts recently weighed in on IIVI shares. Benchmark reaffirmed a “buy” rating and set a $53.00 price objective on shares of II-VI in a research report on Wednesday, August 14th. Craig Hallum reaffirmed a “buy” rating and set a $54.00 price objective (up previously from $47.00) on shares of II-VI in a research report on Thursday, May 2nd. BTIG Research set a $31.00 price objective on II-VI and gave the company a “buy” rating in a research report on Friday, August 9th. B. Riley reduced their price objective on II-VI from $41.00 to $39.00 and set a “neutral” rating for the company in a research report on Wednesday, August 14th. Finally, Northland Securities reaffirmed a “buy” rating and set a $42.00 price objective on shares of II-VI in a research report on Wednesday, August 14th. Two analysts have rated the stock with a sell rating, three have assigned a hold rating and ten have assigned a buy rating to the company’s stock. The company has an average rating of “Buy” and an average price target of $45.42.
Several institutional investors have recently bought and sold shares of IIVI. Ladenburg Thalmann Financial Services Inc. lifted its position in II-VI by 262.7% during the second quarter. Ladenburg Thalmann Financial Services Inc. now owns 6,039 shares of the scientific and technical instruments company’s stock valued at $222,000 after purchasing an additional 4,374 shares in the last quarter. Cowen Inc. lifted its position in II-VI by 249.4% during the second quarter. Cowen Inc. now owns 74,675 shares of the scientific and technical instruments company’s stock valued at $2,730,000 after purchasing an additional 124,675 shares in the last quarter. Doyle Wealth Management purchased a new position in II-VI during the second quarter valued at $55,000. Hillcrest Asset Management LLC lifted its position in II-VI by 0.7% during the second quarter. Hillcrest Asset Management LLC now owns 180,969 shares of the scientific and technical instruments company’s stock valued at $6,616,000 after purchasing an additional 1,216 shares in the last quarter. Finally, Nuveen Asset Management LLC purchased a new position in II-VI during the second quarter valued at $9,344,000. 94.33% of the stock is owned by institutional investors and hedge funds.
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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