II-VI, Inc. (NASDAQ:IIVI) – Research analysts at B. Riley decreased their Q1 2019 earnings estimates for II-VI in a research note issued on Wednesday, August 8th. B. Riley analyst D. Kang now forecasts that the scientific and technical instruments company will earn $0.37 per share for the quarter, down from their previous forecast of $0.41. B. Riley currently has a “Buy” rating and a $54.00 target price on the stock. B. Riley also issued estimates for II-VI’s Q2 2019 earnings at $0.46 EPS, Q3 2019 earnings at $0.44 EPS, Q4 2019 earnings at $0.53 EPS, Q1 2020 earnings at $0.53 EPS, Q2 2020 earnings at $0.63 EPS, Q3 2020 earnings at $0.58 EPS and Q4 2020 earnings at $0.62 EPS.
Other equities research analysts have also issued reports about the company. Needham & Company LLC cut their price objective on II-VI from $56.00 to $50.00 and set a “buy” rating on the stock in a research report on Wednesday, May 2nd. ValuEngine upgraded II-VI from a “hold” rating to a “buy” rating in a research report on Wednesday. Zacks Investment Research lowered II-VI from a “buy” rating to a “sell” rating in a research report on Friday, May 4th. Cowen restated a “buy” rating and set a $64.00 price target on shares of II-VI in a research report on Wednesday. Finally, Loop Capital restated a “buy” rating and set a $56.00 price target on shares of II-VI in a research report on Tuesday, May 1st. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and eleven have issued a buy rating to the company’s stock. II-VI currently has an average rating of “Buy” and a consensus price target of $53.54.
II-VI (NASDAQ:IIVI) last issued its quarterly earnings data on Tuesday, August 7th. The scientific and technical instruments company reported $0.52 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.39 by $0.13. The firm had revenue of $321.10 million for the quarter, compared to analyst estimates of $301.45 million. II-VI had a return on equity of 10.09% and a net margin of 7.59%. The business’s quarterly revenue was up 17.3% compared to the same quarter last year. During the same period last year, the company earned $0.50 EPS.
A number of large investors have recently made changes to their positions in IIVI. Janus Henderson Group PLC purchased a new position in II-VI during the second quarter valued at $244,000. Gagnon Securities LLC purchased a new position in II-VI during the second quarter valued at $254,000. Affinity Investment Advisors LLC raised its stake in II-VI by 23.4% during the first quarter. Affinity Investment Advisors LLC now owns 7,926 shares of the scientific and technical instruments company’s stock valued at $324,000 after buying an additional 1,504 shares during the last quarter. Sheets Smith Wealth Management raised its stake in II-VI by 60.6% during the second quarter. Sheets Smith Wealth Management now owns 8,391 shares of the scientific and technical instruments company’s stock valued at $365,000 after buying an additional 3,166 shares during the last quarter. Finally, Ontario Teachers Pension Plan Board purchased a new position in II-VI during the second quarter valued at $384,000. Institutional investors and hedge funds own 95.72% of the company’s stock.
In other II-VI news, CFO Mary Jane Raymond sold 4,000 shares of II-VI stock in a transaction on Friday, August 10th. The stock was sold at an average price of $44.88, for a total transaction of $179,520.00. Following the completion of the transaction, the chief financial officer now owns 47,368 shares in the company, valued at $2,125,875.84. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Vincent D. Mattera, Jr. sold 9,450 shares of II-VI stock in a transaction on Wednesday, August 1st. The shares were sold at an average price of $39.79, for a total value of $376,015.50. Following the transaction, the chief executive officer now owns 250,310 shares of the company’s stock, valued at approximately $9,959,834.90. The disclosure for this sale can be found here. Insiders have sold 20,029 shares of company stock worth $845,604 over the last 90 days. 3.80% of the stock is currently owned by corporate insiders.
II-VI Company Profile
II-VI Incorporated provides engineered materials and optoelectronic components worldwide. The company is a vertically integrated manufacturing company that develops innovative products for various applications in the industrial, optical communications, military, life sciences, semiconductor equipment, and consumer markets.
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