II-VI, Inc. (NASDAQ:IIVI) has been given a consensus rating of “Hold” by the fourteen analysts that are presently covering the firm, Marketbeat reports. Three research analysts have rated the stock with a sell rating, three have given a hold rating and eight have assigned a buy rating to the company. The average 12-month price target among brokerages that have issued ratings on the stock in the last year is $50.67.
Several equities research analysts have recently commented on the company. Needham & Company LLC reissued a “buy” rating and set a $46.00 price target (down previously from $48.00) on shares of II-VI in a research note on Thursday, May 2nd. BidaskClub lowered II-VI from a “hold” rating to a “sell” rating in a research note on Thursday, April 25th. Craig Hallum reissued a “buy” rating and set a $54.00 price target (up previously from $47.00) on shares of II-VI in a research note on Thursday, May 2nd. Zacks Investment Research lowered II-VI from a “hold” rating to a “sell” rating in a research note on Thursday, May 9th. Finally, Benchmark reissued a “buy” rating and set a $57.00 price target (up previously from $55.00) on shares of II-VI in a research note on Thursday, May 2nd.
Shares of NASDAQ:IIVI opened at $34.50 on Friday. The company has a market cap of $2.18 billion, a PE ratio of 20.06, a PEG ratio of 1.26 and a beta of 0.83. The company has a debt-to-equity ratio of 0.44, a quick ratio of 2.15 and a current ratio of 3.41. II-VI has a 12 month low of $29.31 and a 12 month high of $50.75.
In related news, Director Francis J. Kramer sold 10,050 shares of the company’s stock in a transaction that occurred on Friday, April 12th. The stock was sold at an average price of $40.52, for a total value of $407,226.00. Following the sale, the director now owns 172,697 shares of the company’s stock, valued at approximately $6,997,682.44. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, insider Vincent D. Mattera, Jr. sold 1,973 shares of the company’s stock in a transaction that occurred on Monday, April 8th. The shares were sold at an average price of $40.00, for a total value of $78,920.00. Following the completion of the sale, the insider now directly owns 260,138 shares in the company, valued at approximately $10,405,520. The disclosure for this sale can be found here. In the last ninety days, insiders sold 81,050 shares of company stock worth $3,263,657. 4.00% of the stock is owned by corporate insiders.
Hedge funds have recently bought and sold shares of the stock. Advisory Services Network LLC lifted its stake in II-VI by 750.0% in the 4th quarter. Advisory Services Network LLC now owns 850 shares of the scientific and technical instruments company’s stock valued at $28,000 after buying an additional 750 shares in the last quarter. Fifth Third Bancorp acquired a new position in II-VI in the 1st quarter valued at $32,000. Winslow Evans & Crocker Inc. acquired a new position in II-VI in the 4th quarter valued at $34,000. Versant Capital Management Inc raised its holdings in II-VI by 578.4% in the 1st quarter. Versant Capital Management Inc now owns 1,289 shares of the scientific and technical instruments company’s stock valued at $48,000 after acquiring an additional 1,099 shares during the last quarter. Finally, Doyle Wealth Management acquired a new position in II-VI in the 4th quarter valued at $49,000. 90.46% of the stock is currently owned by hedge funds and other institutional investors.
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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