BidaskClub upgraded shares of II-VI (NASDAQ:IIVI) from a hold rating to a buy rating in a research report sent to investors on Wednesday, January 10th.
Other research analysts have also recently issued reports about the stock. Benchmark reissued a buy rating and set a $44.00 target price on shares of II-VI in a research report on Wednesday, September 13th. Zacks Investment Research raised shares of II-VI from a hold rating to a strong-buy rating and set a $46.00 target price on the stock in a research report on Wednesday, September 27th. boosted their target price on shares of II-VI from $50.00 to $56.00 and gave the stock a buy rating in a research report on Wednesday, November 15th. Craig Hallum reaffirmed a buy rating and issued a $58.00 price target (up from $50.00) on shares of II-VI in a report on Wednesday, November 1st. Finally, B. Riley upped their price target on shares of II-VI from $39.50 to $40.50 and gave the company a neutral rating in a report on Wednesday, November 1st. Three equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. The stock presently has an average rating of Buy and an average price target of $50.64.
II-VI (IIVI) opened at $51.15 on Wednesday. The company has a current ratio of 3.89, a quick ratio of 2.63 and a debt-to-equity ratio of 0.43. The stock has a market cap of $3,190.00, a PE ratio of 33.21 and a beta of 0.03. II-VI has a 52-week low of $27.25 and a 52-week high of $52.55.
In other news, Director Francis J. Kramer sold 25,000 shares of the company’s stock in a transaction dated Tuesday, October 31st. The shares were sold at an average price of $45.10, for a total transaction of $1,127,500.00. Following the completion of the transaction, the director now owns 286,259 shares in the company, valued at $12,910,280.90. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, VP David G. Wagner sold 6,577 shares of the company’s stock in a transaction dated Thursday, November 30th. The stock was sold at an average price of $47.63, for a total transaction of $313,262.51. The disclosure for this sale can be found here. Insiders have sold 36,712 shares of company stock worth $1,699,046 over the last three months. 3.80% of the stock is owned by corporate insiders.
A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Pinebridge Investments L.P. grew its position in II-VI by 1.9% in the 2nd quarter. Pinebridge Investments L.P. now owns 7,237 shares of the scientific and technical instruments company’s stock valued at $249,000 after buying an additional 137 shares in the last quarter. Nationwide Fund Advisors boosted its position in shares of II-VI by 0.8% during the 2nd quarter. Nationwide Fund Advisors now owns 41,893 shares of the scientific and technical instruments company’s stock valued at $1,437,000 after purchasing an additional 339 shares in the last quarter. Louisiana State Employees Retirement System boosted its position in shares of II-VI by 4.4% during the 4th quarter. Louisiana State Employees Retirement System now owns 23,600 shares of the scientific and technical instruments company’s stock valued at $1,108,000 after purchasing an additional 1,000 shares in the last quarter. Rhumbline Advisers boosted its position in shares of II-VI by 2.2% during the 3rd quarter. Rhumbline Advisers now owns 134,008 shares of the scientific and technical instruments company’s stock valued at $5,514,000 after purchasing an additional 2,855 shares in the last quarter. Finally, Bridge City Capital LLC boosted its position in shares of II-VI by 8.7% during the 3rd quarter. Bridge City Capital LLC now owns 41,025 shares of the scientific and technical instruments company’s stock valued at $1,688,000 after purchasing an additional 3,280 shares in the last quarter. Hedge funds and other institutional investors own 80.52% of the company’s stock.
II-VI Company Profile
II-VI Incorporated develops and manufactures engineered materials, optoelectronic components and products. The Company has three segments: II-VI Laser Solutions, II-VI Photonics and II-VI Performance Products. The II-VI Laser Solutions segment designs, manufactures and markets optical and electro-optical components and materials sold under the II-VI Infrared brand name and used in carbon dioxide (CO2) lasers, fiber-delivered beam delivery systems and processing tools and direct diode lasers for industrial lasers sold under the II-VI HIGHYAG and II-VI Laser Enterprise brand names.
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