II-VI Incorporated (NASDAQ: IIVI) Achieves Consensus Brokerage Buy Rating
II-VI Incorporated (NASDAQ: IIVI) received an average âBuyâ recommendation from the sixteen research companies that cover the stock, reports MarketBeat. Two equity research analysts gave the stock a sell rating, two assigned a conservation rating, and eleven gave the company a buy rating. The 12-month average target price among analysts who hedged the stock in the past year is $ 90.62.
Several research analysts recently weighed in on the title. Zacks Investment Research downgraded II-VI stocks from a âholdâ rating to a âsellâ rating in a report released on Tuesday, November 16. Deutsche Bank Aktiengesellschaft downgraded II-VI shares from a âbuyâ rating to a âkeepâ rating and set a price target of $ 75 for the share. in a report on Wednesday, September 1. TheStreet upgraded Actions II-VI from a âc +â rating to a âbâ rating in a report released on Wednesday, December 1. Morgan Stanley Upgraded II-VI Stocks From ‘On Equity’ To ‘Overweight’ Rating And Raised Its Share Price Target From $ 80.00 To $ 82.00 In Released Report Wednesday, December 15. Finally, Barclays downgraded shares of II-VI from an “on par” rating to an “underweight” rating and lowered its price target for the company from $ 65.00 to $ 56.00 in a year. report published on Monday, October 4.
In other II-VI news, director Joseph J. Corasanti sold 8,620 shares in a trade that took place on Friday, November 12. The shares were sold for an average price of $ 64.76, for a total value of $ 558,231.20. The sale was disclosed in a file with the Securities & Exchange Commission, accessible through the SEC website. Additionally, Chairman Walter Robert Bashaw II sold 1,400 shares of the company in a transaction that took place on Wednesday, December 15. The stock was sold at an average price of $ 70.00, for a total trade of $ 98,000.00. Disclosure of this sale can be found here. Insiders have sold 18,020 shares of the company valued at $ 1,216,231 in the past ninety days. 2.50% of the shares are held by insiders of the company.
Several hedge funds have recently increased or reduced their stake in IIVI. Russell Investments Group Ltd. increased its position in II-VI shares by 6.5% in the second quarter. Russell Investments Group Ltd. now owns 169,959 shares of the scientific and technical instruments company valued at $ 12,335,000 after purchasing an additional 10,405 shares in the last quarter. Verity Asset Management Inc. increased its position in II-VI equities by 4.3% during the second quarter. Verity Asset Management Inc. now owns 13,829 shares of the S&T company valued at $ 1,004,000 after purchasing an additional 567 shares in the last quarter. Thompson Investment Management Inc. increased its position in II-VI stocks by 5.3% in the second quarter. Thompson Investment Management Inc. now owns 130,515 shares of the S&T company valued at $ 9,474,000 after purchasing an additional 6,535 shares in the last quarter. Winfield Associates Inc. increased its position in II-VI shares by 4.9% during the second quarter. Winfield Associates Inc. now owns 38,777 shares of the S&T company valued at $ 2,815,000 after purchasing an additional 1,800 shares in the last quarter. Finally, SG Americas Securities LLC increased its position in II-VI shares by 28.6% during the second quarter. SG Americas Securities LLC now owns 50,854 shares of the S&T company valued at $ 3,691,000 after purchasing an additional 11,321 shares during the last quarter. 99.03% of the shares are held by institutional investors and hedge funds.
NASDAQ IIVI shares opened at $ 68.57 on Wednesday. The stock has a market cap of $ 7.28 billion, a price-to-earnings ratio of 27.65, a PEG ratio of 1.51 and a beta of 1.48. II-VI has a 52 week low of $ 54.35 and a 52 week high of $ 100.44. The company’s 50-day mobile average price is $ 63.19, and its 200-day mobile average price is $ 64.73. The company has a current ratio of 2.97, a rapid ratio of 2.24, and a debt ratio of 0.32.
II-VI (NASDAQ: IIVI) last released its results on Tuesday, November 9. The science and engineering instruments company reported earnings of $ 0.87 per share (EPS) for the quarter, beating Zacks’ consensus estimate of $ 0.83 per $ 0.04. The company posted revenue of $ 795.10 million for the quarter, compared to analysts’ estimates of $ 809.79 million. II-VI had a net margin of 10.27% and a return on equity of 14.00%. The company’s quarterly revenue increased 9.2% year-over-year. During the same period of the previous year, the company achieved EPS of $ 0.38. As a group, research analysts expect II-VI to post earnings per share of 3.1 for the current year.
II-VI Company profile
II-VI, Inc is engaged in the development, refinement, manufacture and marketing of technical materials and precision optoelectronic components and devices in the fields of industrial materials processing, optical communications, aerospace and defense, consumer electronics, semiconductor equipment, life sciences and automotive applications and markets.
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