II-VI (NASDAQ:IIVI)‘s stock had its “hold” rating restated by investment analysts at Northland Securities in a research report issued to clients and investors on Tuesday, AnalystRatings.com reports. They currently have a $30.00 price target on the scientific and technical instruments company’s stock. Northland Securities’ target price indicates a potential downside of 7.64% from the company’s previous close.
A number of other brokerages have also recently issued reports on IIVI. B. Riley reiterated a “neutral” rating on shares of II-VI in a report on Friday. Benchmark reiterated a “buy” rating and issued a $53.00 price objective on shares of II-VI in a report on Wednesday, August 14th. BTIG Research set a $31.00 price objective on shares of II-VI and gave the stock a “buy” rating in a report on Friday, August 9th. ValuEngine cut shares of II-VI from a “buy” rating to a “hold” rating in a report on Tuesday, September 24th. Finally, Craig Hallum set a $53.00 price objective on shares of II-VI and gave the stock a “buy” rating in a report on Thursday, September 26th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and seven have assigned a buy rating to the company’s stock. II-VI currently has a consensus rating of “Hold” and a consensus price target of $43.17.
Shares of II-VI stock traded down $2.68 on Tuesday, hitting $32.48. 5,278,600 shares of the company traded hands, compared to its average volume of 950,549. The company has a 50-day moving average price of $33.78 and a 200 day moving average price of $36.08. The company has a quick ratio of 1.91, a current ratio of 3.00 and a debt-to-equity ratio of 0.39. II-VI has a 12-month low of $29.31 and a 12-month high of $43.49. The company has a market cap of $2.30 billion, a PE ratio of 19.93 and a beta of 1.02.
In other II-VI news, Director Marc Y. E. Pelaez sold 1,000 shares of the company’s stock in a transaction dated Tuesday, September 17th. The shares were sold at an average price of $40.72, for a total transaction of $40,720.00. Following the completion of the sale, the director now directly owns 64,082 shares in the company, valued at $2,609,419.04. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Mary Jane Raymond sold 16,000 shares of the company’s stock in a transaction dated Monday, August 19th. The shares were sold at an average price of $39.25, for a total transaction of $628,000.00. Following the sale, the chief financial officer now owns 48,427 shares of the company’s stock, valued at $1,900,759.75. The disclosure for this sale can be found here. Corporate insiders own 4.20% of the company’s stock.
A number of hedge funds have recently added to or reduced their stakes in the business. Lisanti Capital Growth LLC bought a new stake in II-VI during the third quarter valued at about $1,994,000. Northwestern Mutual Investment Management Company LLC bought a new stake in II-VI during the third quarter valued at about $864,000. BBVA USA Bancshares Inc. bought a new stake in II-VI during the third quarter valued at about $834,000. Signition LP bought a new stake in II-VI during the third quarter valued at about $231,000. Finally, Mason Street Advisors LLC boosted its holdings in II-VI by 26,780.6% during the third quarter. Mason Street Advisors LLC now owns 5,357,579 shares of the scientific and technical instruments company’s stock valued at $1,886,000 after acquiring an additional 5,337,648 shares during the period. Institutional investors own 93.93% of the company’s stock.
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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