II-VI’s (IIVI) Neutral Rating Reaffirmed at B. Riley

II-VI (NASDAQ:IIVI)‘s stock had its “neutral” rating reissued by research analysts at B. Riley in a research report issued on Friday, Zacks.com reports.

Several other analysts have also recently commented on IIVI. BTIG Research set a $31.00 price target on II-VI and gave the company a “buy” rating in a report on Friday, August 9th. JPMorgan Chase & Co. initiated coverage on II-VI in a report on Monday, July 29th. They issued an “overweight” rating and a $50.00 price target for the company. ValuEngine cut II-VI from a “buy” rating to a “hold” rating in a report on Tuesday, September 24th. BidaskClub raised II-VI from a “sell” rating to a “hold” rating in a report on Saturday, November 2nd. Finally, Raymond James initiated coverage on II-VI in a report on Friday. They issued an “outperform” rating and a $44.00 price target for the company. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and seven have issued a buy rating to the stock. The stock has an average rating of “Hold” and an average target price of $43.92.

II-VI stock opened at $35.76 on Friday. The company has a current ratio of 3.00, a quick ratio of 1.91 and a debt-to-equity ratio of 0.39. The stock has a 50 day moving average of $34.05 and a two-hundred day moving average of $36.17. The stock has a market capitalization of $2.37 billion, a price-to-earnings ratio of 21.94 and a beta of 1.02. II-VI has a twelve month low of $29.31 and a twelve month high of $43.49.

II-VI (NASDAQ:IIVI) last posted its quarterly earnings results on Tuesday, August 13th. The scientific and technical instruments company reported $0.67 EPS for the quarter, beating the consensus estimate of $0.38 by $0.29. The business 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 company’s quarterly revenue was up 13.0% compared to the same quarter last year. During the same period last year, the firm earned $0.52 EPS. Equities analysts predict that II-VI will post 1.82 earnings per share for the current year.

In related news, Director Marc Y. E. Pelaez sold 1,000 shares of the firm’s stock in a transaction that occurred on Tuesday, September 17th. The stock was 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 directly owns 64,082 shares of the company’s stock, valued at approximately $2,609,419.04. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, 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 completion of the transaction, the chief financial officer now directly owns 48,427 shares of the company’s stock, valued at $1,900,759.75. The disclosure for this sale can be found here. Insiders sold a total of 17,500 shares of company stock valued at $687,300 over the last ninety days. 4.20% of the stock is currently owned by company insiders.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Bridge City Capital LLC increased its stake in II-VI by 0.5% in the 2nd quarter. Bridge City Capital LLC now owns 56,491 shares of the scientific and technical instruments company’s stock valued at $2,065,000 after purchasing an additional 280 shares in the last quarter. Oregon Public Employees Retirement Fund increased its stake in II-VI by 1.7% in the 2nd quarter. Oregon Public Employees Retirement Fund now owns 23,548 shares of the scientific and technical instruments company’s stock valued at $861,000 after purchasing an additional 400 shares in the last quarter. Brookstone Capital Management increased its position in II-VI by 3.1% during the third quarter. Brookstone Capital Management now owns 14,299 shares of the scientific and technical instruments company’s stock worth $503,000 after buying an additional 432 shares in the last quarter. Miles Capital Inc. increased its position in II-VI by 7.7% during the second quarter. Miles Capital Inc. now owns 6,390 shares of the scientific and technical instruments company’s stock worth $234,000 after buying an additional 457 shares in the last quarter. Finally, First Interstate Bank increased its position in 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 buying an additional 500 shares in the last quarter. 94.36% of the stock is owned by hedge funds and other institutional investors.

About II-VI

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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