Miles Capital Inc. Purchases Shares of 5,933 II-VI, Inc. (IIVI)

Miles Capital Inc. purchased a new position in shares of II-VI, Inc. (NASDAQ:IIVI) in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund purchased 5,933 shares of the scientific and technical instruments company’s stock, valued at approximately $221,000.

A number of other hedge funds and other institutional investors have also made changes to their positions in the business. Raymond James Financial Services Advisors Inc. lifted its holdings in II-VI by 1.4% during the 1st quarter. Raymond James Financial Services Advisors Inc. now owns 25,725 shares of the scientific and technical instruments company’s stock worth $958,000 after buying an additional 365 shares during the last quarter. Vista Investment Management lifted its holdings in shares of II-VI by 2.7% in the 4th quarter. Vista Investment Management now owns 14,954 shares of the scientific and technical instruments company’s stock valued at $485,000 after purchasing an additional 387 shares during the last quarter. Foundry Partners LLC lifted its holdings in shares of II-VI by 0.8% in the 1st quarter. Foundry Partners LLC now owns 51,263 shares of the scientific and technical instruments company’s stock valued at $1,909,000 after purchasing an additional 396 shares during the last quarter. Oregon Public Employees Retirement Fund lifted its holdings in shares of II-VI by 1.8% in the 1st quarter. Oregon Public Employees Retirement Fund now owns 23,148 shares of the scientific and technical instruments company’s stock valued at $862,000 after purchasing an additional 418 shares during the last quarter. Finally, State of Alaska Department of Revenue lifted its holdings in shares of II-VI by 2.1% in the 4th quarter. State of Alaska Department of Revenue now owns 19,980 shares of the scientific and technical instruments company’s stock valued at $648,000 after purchasing an additional 420 shares during the last quarter. 92.27% of the stock is owned by institutional investors.

Several analysts have recently weighed in on the company. Northland Securities set a $41.00 target price on II-VI and gave the company a “buy” rating in a report on Monday. Craig Hallum reissued a “buy” rating and issued a $54.00 target price (up from $47.00) on shares of II-VI in a report on Thursday, May 2nd. BidaskClub downgraded II-VI from a “hold” rating to a “sell” rating in a report on Thursday, April 25th. Zacks Investment Research downgraded II-VI from a “hold” rating to a “sell” rating in a report on Thursday, May 9th. Finally, Needham & Company LLC reissued a “buy” rating and issued a $46.00 target price (down from $48.00) on shares of II-VI in a report on Thursday, May 2nd. Three research analysts have rated the stock with a sell rating, three have assigned a hold rating and eight have given a buy rating to the company’s stock. II-VI has an average rating of “Hold” and a consensus price target of $49.82.



In related news, VP David G. Wagner sold 13,200 shares of the business’s stock in a transaction dated Friday, March 1st. The stock was sold at an average price of $42.14, for a total value of $556,248.00. Following the transaction, the vice president now owns 68,317 shares in the company, valued at approximately $2,878,878.38. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Francis J. Kramer sold 30,000 shares of the business’s stock in a transaction dated Monday, March 11th. The shares were sold at an average price of $39.62, for a total value of $1,188,600.00. Following the completion of the transaction, the director now owns 192,647 shares in the company, valued at approximately $7,632,674.14. The disclosure for this sale can be found here. Insiders sold a total of 81,050 shares of company stock worth $3,263,657 in the last 90 days. 4.00% of the stock is currently owned by insiders.

IIVI stock traded down $1.04 during trading on Thursday, hitting $31.79. The company had a trading volume of 16,979 shares, compared to its average volume of 1,070,218. The stock has a market capitalization of $2.18 billion, a PE ratio of 18.58, a price-to-earnings-growth ratio of 1.26 and a beta of 0.83. II-VI, Inc. has a 1-year low of $29.31 and a 1-year high of $50.75. The company has a quick ratio of 2.15, a current ratio of 3.41 and a debt-to-equity ratio of 0.44.

II-VI (NASDAQ:IIVI) last issued its quarterly earnings results on Wednesday, May 1st. The scientific and technical instruments company reported $0.62 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.41 by $0.21. The firm had revenue of $342.40 million for the quarter, compared to analysts’ expectations of $339.93 million. II-VI had a return on equity of 10.77% and a net margin of 8.07%. The firm’s revenue for the quarter was up 16.2% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.36 EPS. Analysts expect that II-VI, Inc. will post 1.6 earnings per share for the current fiscal year.

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II-VI 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.

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

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