Bridge City Capital LLC Has $5.74 Million Position in II-VI Incorporated (NASDAQ:IIVI)

Bridge City Capital LLC lessened its stake in shares of II-VI Incorporated (NASDAQ:IIVI) by 3.2% in the second quarter, according to the company in its most recent filing with the SEC. The fund owned 79,043 shares of the scientific and technical instruments company’s stock after selling 2,590 shares during the quarter. II-VI comprises about 2.0% of Bridge City Capital LLC’s portfolio, making the stock its 5th largest holding. Bridge City Capital LLC’s holdings in II-VI were worth $5,738,000 as of its most recent filing with the SEC.

A number of other institutional investors have also modified their holdings of the business. Russell Investments Group Ltd. lifted its position in shares of II-VI by 6.5% in the 2nd quarter. Russell Investments Group Ltd. now owns 169,959 shares of the scientific and technical instruments company’s stock worth $12,335,000 after purchasing an additional 10,405 shares during the period. Thompson Investment Management Inc. grew its stake in shares of II-VI by 5.3% during the 2nd quarter. Thompson Investment Management Inc. now owns 130,515 shares of the scientific and technical instruments company’s stock valued at $9,474,000 after purchasing an additional 6,535 shares during the period. Verity Asset Management Inc. grew its stake in shares of II-VI by 4.3% during the 2nd quarter. Verity Asset Management Inc. now owns 13,829 shares of the scientific and technical instruments company’s stock valued at $1,004,000 after acquiring an additional 567 shares during the period. FORA Capital LLC grew its position in shares of II-VI by 107.9% during the 1st quarter. FORA Capital LLC now owns 13,812 shares of the scientific and technical instruments company’s stock worth $944,000 after buying an additional 7,168 shares in the last quarter. Finally, Cibc World Markets Corp purchased a new stake in II-VI in the first quarter valued at about $769,000. Institutional investors and hedge funds own 98.29% of the company’s stock.

In other news, President Walter Robert Bashaw II sold 5,000 shares of the firm’s stock in a transaction dated Monday, June 28th. The stock was sold at an average price of $72.09, for a total value of $360,450.00. Following the completion of the transaction, the president now directly owns 45,059 shares in the company, valued at $3,248,303.31. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CTO Christopher Koeppen sold 1,500 shares of the firm’s stock in a transaction that occurred on Wednesday, August 25th. The shares were sold at an average price of $62.51, for a total value of $93,765.00. The disclosure for this sale can be found here. Over the last three months, insiders sold 23,700 shares of company stock worth $1,595,229. Insiders own 2.80% of the company’s stock.

A number of equities analysts recently commented on IIVI shares. Citigroup reduced their price objective on II-VI from $75.00 to $68.00 and set a “neutral” rating on the stock in a research report on Friday, August 20th. Benchmark lowered their price target on II-VI from $105.00 to $90.00 and set a “buy” rating on the stock in a report on Wednesday, August 11th. Deutsche Bank Aktiengesellschaft lowered II-VI from a “buy” rating to a “hold” rating and set a $75.00 price objective on the stock. in a research report on Wednesday, September 1st. TheStreet cut shares of II-VI from a “b” rating to a “c+” rating in a report on Wednesday, September 8th. Finally, Zacks Investment Research upgraded shares of II-VI from a “sell” rating to a “hold” rating in a research report on Tuesday, August 24th. Five equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Buy” and an average price target of $86.00.

Shares of II-VI stock traded up $0.27 on Tuesday, hitting $59.56. 6,835 shares of the company traded hands, compared to its average volume of 1,718,819. The company has a market cap of $6.30 billion, a PE ratio of 25.12, a PEG ratio of 2.08 and a beta of 1.48. The company has a quick ratio of 3.20, a current ratio of 4.15 and a debt-to-equity ratio of 0.44. II-VI Incorporated has a 12-month low of $36.86 and a 12-month high of $100.44. The company has a 50-day moving average price of $64.99 and a 200 day moving average price of $68.57.

II-VI (NASDAQ:IIVI) last released its earnings results on Tuesday, August 10th. The scientific and technical instruments company reported $0.88 earnings per share for the quarter, beating analysts’ consensus estimates of $0.65 by $0.23. The business had revenue of $808.80 million during the quarter, compared to the consensus estimate of $783.74 million. II-VI had a net margin of 9.58% and a return on equity of 12.67%. The firm’s revenue for the quarter was up 8.4% compared to the same quarter last year. During the same quarter last year, the firm earned $1.18 earnings per share. Equities research analysts anticipate that II-VI Incorporated will post 3.08 EPS for the current year.

II-VI Company Profile

II-VI, Inc engages in the development, refinement, manufacturing, and marketing of engineered materials and opto-electronic components and devices for precision in the field of industrial materials processing, optical communications, aerospace and defense, consumer electronics, semiconductor capital equipment, life sciences, and automotive applications and markets.

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Institutional Ownership by Quarter for II-VI (NASDAQ:IIVI)

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