II-VI (NASDAQ:IIVI) Downgraded by BidaskClub to Sell

BidaskClub cut shares of II-VI (NASDAQ:IIVI) from a hold rating to a sell rating in a research report released on Thursday morning, BidAskClub reports.

IIVI has been the subject of a number of other research reports. Zacks Investment Research cut II-VI from a hold rating to a strong sell rating in a research report on Friday, August 2nd. Craig Hallum set a $53.00 price target on II-VI and gave the stock a buy rating in a research report on Thursday, September 26th. JPMorgan Chase & Co. started coverage on II-VI in a research report on Monday, July 29th. They set an overweight rating and a $50.00 price target for the company. Benchmark reaffirmed a buy rating and set a $53.00 price target on shares of II-VI in a research report on Wednesday, August 14th. Finally, B. Riley lowered their price target 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. Three analysts have rated the stock with a sell rating, four have issued a hold rating and seven have given a buy rating to the company. II-VI presently has an average rating of Hold and a consensus price target of $43.91.

Shares of II-VI stock traded up $0.17 during trading on Thursday, reaching $32.17. The company’s stock had a trading volume of 1,067,571 shares, compared to its average volume of 2,289,509. The company has a quick ratio of 1.91, a current ratio of 3.00 and a debt-to-equity ratio of 0.39. The company has a market cap of $2.05 billion, a price-to-earnings ratio of 19.74 and a beta of 1.06. II-VI has a 1-year low of $29.31 and a 1-year high of $47.53. The company has a 50-day simple moving average of $37.06 and a two-hundred day simple moving average of $37.01.



II-VI (NASDAQ:IIVI) last posted its quarterly earnings data on Tuesday, August 13th. The scientific and technical instruments company reported $0.67 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.38 by $0.29. The firm had revenue of $362.70 million during the quarter, compared to analysts’ expectations of $348.02 million. II-VI had a return on equity of 10.37% and a net margin of 7.89%. The business’s quarterly revenue was up 13.0% on a year-over-year basis. During the same quarter last year, the firm earned $0.52 EPS. As a group, analysts anticipate that II-VI will post 1.82 earnings per share for the current year.

In related news, CFO Mary Jane Raymond sold 16,000 shares of II-VI stock in a transaction dated Monday, August 19th. The stock was sold at an average price of $39.25, for a total value of $628,000.00. Following the completion of the transaction, the chief financial officer now owns 48,427 shares in the company, valued at approximately $1,900,759.75. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Marc Y. E. Pelaez sold 1,000 shares of II-VI stock in a transaction dated Tuesday, September 17th. The shares were sold at an average price of $40.72, for a total value of $40,720.00. Following the completion of the transaction, the director now owns 64,082 shares of the company’s stock, valued at approximately $2,609,419.04. The disclosure for this sale can be found here. In the last three months, insiders sold 17,500 shares of company stock valued at $687,300. Insiders own 4.20% of the company’s stock.

Several institutional investors have recently made changes to their positions in IIVI. Huntington National Bank acquired a new position in II-VI during the second quarter worth $29,000. First Interstate Bank increased its position in shares of II-VI by 125.0% during the second quarter. First Interstate Bank now owns 900 shares of the scientific and technical instruments company’s stock worth $33,000 after acquiring an additional 500 shares during the period. Doyle Wealth Management purchased a new stake in shares of II-VI during the second quarter worth $55,000. Advisory Services Network LLC increased its position in shares of II-VI by 105.9% during the first quarter. Advisory Services Network LLC now owns 1,750 shares of the scientific and technical instruments company’s stock worth $65,000 after acquiring an additional 900 shares during the period. Finally, Mint Tower Capital Management B.V. purchased a new stake in shares of II-VI during the first quarter worth $73,000. Hedge funds and other institutional investors own 93.60% 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.

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Analyst Recommendations for II-VI (NASDAQ:IIVI)

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