Shares of II-VI, Inc. (NASDAQ:IIVI) have been given a consensus recommendation of “Hold” by the fourteen analysts that are currently covering the stock, MarketBeat reports. Two equities research analysts have rated the stock with a sell rating, four have assigned a hold rating and eight have assigned a buy rating to the company. The average 1 year target price among analysts that have covered the stock in the last year is $49.89.
Several equities research analysts have weighed in on the company. Piper Jaffray Companies reissued an “overweight” rating and set a $50.00 price objective on shares of II-VI in a research note on Friday, February 1st. Benchmark restated a “buy” rating and set a $55.00 target price on shares of II-VI in a research report on Friday, February 1st. Zacks Investment Research upgraded II-VI from a “hold” rating to a “buy” rating and set a $38.00 target price for the company in a research report on Wednesday, January 16th. ValuEngine lowered II-VI from a “buy” rating to a “hold” rating in a research report on Sunday, March 3rd. Finally, BidaskClub lowered II-VI from a “hold” rating to a “sell” rating in a report on Tuesday, February 12th.
NASDAQ IIVI traded down $0.32 during trading hours on Thursday, hitting $38.59. 29,585 shares of the company were exchanged, compared to its average volume of 604,219. The company has a debt-to-equity ratio of 0.43, a current ratio of 3.17 and a quick ratio of 2.00. II-VI has a 52 week low of $29.31 and a 52 week high of $50.75. The stock has a market capitalization of $2.45 billion, a P/E ratio of 22.43, a PEG ratio of 1.27 and a beta of 0.83.
In other II-VI news, VP David G. Wagner sold 13,200 shares of the company’s stock in a transaction on Friday, March 1st. The stock was sold at an average price of $42.14, for a total transaction of $556,248.00. Following the completion of the sale, the vice president now owns 68,317 shares in the company, valued at $2,878,878.38. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CFO Mary Jane Raymond sold 2,000 shares of the company’s stock in a transaction on Monday, March 11th. The stock was sold at an average price of $39.00, for a total value of $78,000.00. Following the sale, the chief financial officer now owns 49,464 shares of the company’s stock, valued at approximately $1,929,096. The disclosure for this sale can be found here. Insiders sold 57,517 shares of company stock valued at $2,300,042 in the last quarter. 4.00% of the stock is owned by company insiders.
Institutional investors have recently bought and sold shares of the business. Victory Capital Management Inc. increased its position in shares of II-VI by 105.4% during the fourth quarter. Victory Capital Management Inc. now owns 916,525 shares of the scientific and technical instruments company’s stock worth $29,750,000 after purchasing an additional 470,350 shares in the last quarter. DNB Asset Management AS acquired a new position in shares of II-VI during the fourth quarter worth $9,127,000. FMR LLC acquired a new position in shares of II-VI during the third quarter worth $12,660,000. Millennium Management LLC acquired a new position in shares of II-VI during the fourth quarter worth $8,580,000. Finally, Vanguard Group Inc increased its position in shares of II-VI by 4.5% during the third quarter. Vanguard Group Inc now owns 5,867,148 shares of the scientific and technical instruments company’s stock worth $277,516,000 after purchasing an additional 253,898 shares in the last quarter. Institutional investors own 91.85% 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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