II-VI (NASDAQ:IIVI) Hits New 1-Year Low at $51.43

II-VI Incorporated (NASDAQ:IIVI – Get Rating)’s stock price hit a new 52-week low during mid-day trading on Wednesday . The company traded as low as $51.43 and last traded at $51.68, with a volume of 9150 shares. The stock had previously closed at $52.85.

IIVI has been the subject of a number of research reports. Morgan Stanley decreased their target price on II-VI from $82.00 to $75.00 and set an “overweight” rating for the company in a report on Tuesday, June 14th. Raymond James boosted their target price on II-VI from $79.00 to $82.00 in a report on Tuesday, May 10th. StockNews.com started coverage on II-VI in a report on Thursday, March 31st. They set a “hold” rating for the company. Finally, Craig Hallum decreased their price target on II-VI from $100.00 to $85.00 and set a “buy” rating for the company in a report on Thursday, April 14th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $80.50.

The stock has a 50-day simple moving average of $60.47 and a 200-day simple moving average of $65.33. The company has a market capitalization of $5.62 billion, a price-to-earnings ratio of 29.14, a price-to-earnings-growth ratio of 1.12 and a beta of 1.47. The company has a current ratio of 1.99, a quick ratio of 1.58 and a debt-to-equity ratio of 0.29.

II-VI (NASDAQ:IIVI – Get Rating) last announced its earnings results on Tuesday, May 10th. The scientific and technical instruments company reported $0.83 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.72 by $0.11. II-VI had a return on equity of 13.85% and a net margin of 8.44%. The company had revenue of $827.72 million for the quarter, compared to analyst estimates of $804.79 million. During the same period in the prior year, the company posted $0.80 EPS. II-VI’s quarterly revenue was up 5.7% on a year-over-year basis. On average, research analysts forecast that II-VI Incorporated will post 3.2 EPS for the current year.

In other II-VI news, CTO Christopher Koeppen sold 500 shares of the stock in a transaction on Monday, April 18th. The shares were sold at an average price of $61.71, for a total transaction of $30,855.00. Following the sale, the chief technology officer now directly owns 29,329 shares of the company’s stock, valued at $1,809,892.59. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Howard H. Xia sold 6,000 shares of the stock in a transaction on Tuesday, March 29th. The stock was sold at an average price of $74.40, for a total transaction of $446,400.00. The disclosure for this sale can be found here. In the last ninety days, insiders sold 6,850 shares of company stock valued at $502,088. 2.50% of the stock is currently owned by corporate insiders.

Several large investors have recently modified their holdings of the business. IFP Advisors Inc increased its holdings in shares of II-VI by 17.4% in the 4th quarter. IFP Advisors Inc now owns 2,934 shares of the scientific and technical instruments company’s stock worth $201,000 after acquiring an additional 434 shares during the period. Lindbrook Capital LLC acquired a new stake in shares of II-VI in the 4th quarter worth about $140,000. Hunter Associates Investment Management LLC increased its holdings in shares of II-VI by 160.0% in the 4th quarter. Hunter Associates Investment Management LLC now owns 32,500 shares of the scientific and technical instruments company’s stock worth $2,221,000 after acquiring an additional 20,000 shares during the period. Hedeker Wealth LLC increased its holdings in shares of II-VI by 6.2% in the 4th quarter. Hedeker Wealth LLC now owns 71,067 shares of the scientific and technical instruments company’s stock worth $4,856,000 after acquiring an additional 4,180 shares during the period. Finally, Thompson Investment Management Inc. increased its holdings in shares of II-VI by 5.9% in the 4th quarter. Thompson Investment Management Inc. now owns 148,415 shares of the scientific and technical instruments company’s stock worth $10,141,000 after acquiring an additional 8,232 shares during the period. 97.88% of the stock is currently owned by institutional investors.

II-VI Company Profile (NASDAQ:IIVI)

II-VI Incorporated develops, manufactures, and markets engineered materials, optoelectronic components, and devices worldwide. It operates through two segments, Compound Semiconductors and Photonic Solutions. The Compound Semiconductors segment provides optical and electro-optical components and materials used in high-power CO2 lasers, fiber-lasers, and direct diode lasers for materials processing applications; infrared optical components and high-precision optical assemblies for aerospace and defense, medical, and commercial laser imaging applications; semiconductor lasers and detectors for optical interconnects and sensing applications; engineered materials for thermoelectric, ceramics, and silicon carbide various applications; and compound semiconductor epitaxial wafers for applications in optical and wireless communication.

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