II-VI Incorporated (NASDAQ:IIVI) CEO Sells $596,615.00 in Stock

II-VI Incorporated (NASDAQ:IIVI) CEO Vincent D. Mattera, Jr. sold 8,500 shares of the stock in a transaction on Friday, July 16th. The shares were sold at an average price of $70.19, for a total value of $596,615.00. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link.

Shares of NASDAQ:IIVI opened at $72.53 on Thursday. The stock has a market cap of $7.61 billion, a P/E ratio of 31.53 and a beta of 1.50. The company has a current ratio of 4.26, a quick ratio of 3.26 and a debt-to-equity ratio of 0.46. II-VI Incorporated has a one year low of $36.04 and a one year high of $100.44. The company’s 50-day moving average is $69.37.

II-VI (NASDAQ:IIVI) last announced its earnings results on Thursday, May 6th. The scientific and technical instruments company reported $0.91 EPS for the quarter, beating the consensus estimate of $0.73 by $0.18. The business had revenue of $783.20 million for the quarter, compared to the consensus estimate of $772.08 million. II-VI had a return on equity of 11.78% and a net margin of 8.76%. The company’s revenue was up 24.9% on a year-over-year basis. During the same period last year, the business posted $0.47 EPS. Equities research analysts expect that II-VI Incorporated will post 3.1 EPS for the current year.

A number of analysts recently commented on the company. Morgan Stanley decreased their price objective on II-VI from $88.00 to $80.00 and set an “equal weight” rating on the stock in a research note on Friday, May 7th. Citigroup lowered II-VI from a “buy” rating to a “neutral” rating and decreased their price target for the stock from $90.00 to $75.00 in a research note on Wednesday. Barclays reissued an “equal weight” rating and issued a $65.00 price target (down from $105.00) on shares of II-VI in a research note on Monday, May 24th. B. Riley raised II-VI from a “neutral” rating to a “buy” rating and set a $88.00 price target on the stock in a research note on Thursday, April 1st. Finally, Northland Securities upgraded II-VI from a “market perform” rating to an “outperform” rating and raised their price objective for the stock from $60.00 to $70.00 in a report on Friday, May 7th. One analyst has rated the stock with a sell rating, five have assigned a hold rating and fourteen have issued a buy rating to the stock. The stock presently has an average rating of “Buy” and an average price target of $86.68.

A number of hedge funds have recently bought and sold shares of IIVI. Essex Investment Management Co. LLC increased its holdings in II-VI by 45.0% during the 4th quarter. Essex Investment Management Co. LLC now owns 26,834 shares of the scientific and technical instruments company’s stock worth $2,038,000 after purchasing an additional 8,334 shares during the last quarter. Alpha DNA Investment Management LLC purchased a new stake in II-VI during the 4th quarter worth approximately $894,000. United Capital Financial Advisers LLC purchased a new stake in II-VI during the 4th quarter worth approximately $251,000. Thompson Investment Management Inc. increased its holdings in II-VI by 7.6% during the 1st quarter. Thompson Investment Management Inc. now owns 123,980 shares of the scientific and technical instruments company’s stock worth $8,476,000 after purchasing an additional 8,714 shares during the last quarter. Finally, Scout Investments Inc. increased its holdings in II-VI by 9.6% during the 1st quarter. Scout Investments Inc. now owns 214,394 shares of the scientific and technical instruments company’s stock worth $14,658,000 after purchasing an additional 18,829 shares during the last quarter. Institutional investors own 91.91% 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 through two segments, Compound Semiconductors and Photonic Solutions. The Compound Semiconductors segment offers optical and electro-optical components and materials used in high-power CO2 lasers; fiber-delivered beam delivery systems, and processing tools and direct diode lasers for industrial lasers; and compound semiconductor epitaxial and gallium arsenide wafers.

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