II-VI (NASDAQ:IIVI) had its target price increased by equities researchers at Needham & Company LLC from $50.00 to $56.00 in a research report issued on Monday, November 13th, MarketBeat Ratings reports. The brokerage currently has a “buy” rating on the scientific and technical instruments company’s stock. Needham & Company LLC’s price objective indicates a potential upside of 22.67% from the company’s previous close.
Several other research analysts have also recently weighed in on IIVI. BidaskClub raised shares of II-VI from a “hold” rating to a “buy” rating in a report on Wednesday, July 19th. Craig Hallum began coverage on shares of II-VI in a report on Monday, July 24th. They set a “buy” rating and a $50.00 target price for the company. B. Riley cut shares of II-VI from a “buy” rating to a “neutral” rating and upped their target price for the company from $35.75 to $39.50 in a report on Wednesday, July 26th. Northland Securities set a $45.00 target price on shares of II-VI and gave the stock a “buy” rating in a research report on Monday, August 7th. Finally, Benchmark increased their price objective on shares of II-VI from $40.00 to $44.00 and gave the company a “buy” rating in a research report on Tuesday, August 8th. Four investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. II-VI presently has a consensus rating of “Buy” and a consensus target price of $50.64.
II-VI (NASDAQ IIVI) opened at $45.65 on Monday. The stock has a market cap of $2,850.00, a P/E ratio of 28.55 and a beta of 0.02. II-VI has a 52 week low of $27.25 and a 52 week high of $52.55. The company has a quick ratio of 2.63, a current ratio of 3.89 and a debt-to-equity ratio of 0.43.
In related news, Director Francis J. Kramer sold 25,000 shares of the firm’s stock in a transaction dated Monday, October 2nd. The shares were sold at an average price of $42.00, for a total value of $1,050,000.00. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, CFO Mary Jane Raymond sold 1,000 shares of the firm’s stock in a transaction dated Tuesday, October 31st. The stock was sold at an average price of $45.00, for a total transaction of $45,000.00. Following the completion of the transaction, the chief financial officer now directly owns 53,415 shares in the company, valued at approximately $2,403,675. The disclosure for this sale can be found here. In the last three months, insiders sold 61,712 shares of company stock worth $2,749,046. Insiders own 3.80% of the company’s stock.
A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Argent Capital Management LLC increased its position in II-VI by 23.0% during the 3rd quarter. Argent Capital Management LLC now owns 57,710 shares of the scientific and technical instruments company’s stock valued at $2,375,000 after purchasing an additional 10,785 shares during the period. Assetmark Inc. increased its position in II-VI by 157.5% during the 3rd quarter. Assetmark Inc. now owns 137,616 shares of the scientific and technical instruments company’s stock valued at $5,663,000 after purchasing an additional 84,176 shares during the period. EAM Investors LLC purchased a new position in II-VI during the 3rd quarter valued at about $2,252,000. Rhumbline Advisers increased its position in 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 during the period. Finally, Kornitzer Capital Management Inc. KS increased its position in II-VI by 83.0% during the 3rd quarter. Kornitzer Capital Management Inc. KS now owns 137,480 shares of the scientific and technical instruments company’s stock valued at $5,657,000 after purchasing an additional 62,335 shares during the period. 80.56% of the stock is currently owned by institutional investors and hedge funds.
TRADEMARK VIOLATION WARNING: This news story was originally posted by BBNS and is owned by of BBNS. If you are reading this news story on another domain, it was illegally copied and republished in violation of U.S. & international trademark and copyright law. The legal version of this news story can be accessed at https://baseballnewssource.com/markets/needham-company-llc-increases-ii-vi-incorporated-iivi-price-target-to-56-00/1781786.html.
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.
Receive News & Ratings for II-VI Incorporated Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for II-VI Incorporated and related companies with our FREE daily email newsletter.