II-VI Incorporated (NASDAQ:IIVI) Receives Average Rating of “Hold” from Brokerages

Shares of II-VI Incorporated (NASDAQ:IIVIGet Rating) have earned an average recommendation of “Hold” from the eighteen ratings firms that are currently covering the firm, Marketbeat.com reports. Two investment analysts have rated the stock with a sell rating, five have assigned a hold rating and ten have assigned a buy rating to the company. The average 1-year target price among brokerages that have issued ratings on the stock in the last year is $81.57.

A number of equities research analysts have commented on the stock. Citigroup raised their target price on shares of II-VI from $68.00 to $75.00 and gave the stock a “neutral” rating in a research note on Thursday, February 10th. Craig Hallum reduced their price target on II-VI from $100.00 to $85.00 and set a “buy” rating on the stock in a report on Thursday, April 14th. Raymond James raised their price objective on II-VI from $77.00 to $79.00 and gave the stock an “outperform” rating in a report on Thursday, February 10th. StockNews.com began coverage on II-VI in a report on Thursday, March 31st. They set a “hold” rating on the stock. Finally, B. Riley raised their price objective on II-VI from $87.00 to $88.00 and gave the stock a “buy” rating in a report on Thursday, February 10th.

In related news, CEO Vincent D. Mattera, Jr. sold 2,000 shares of the firm’s stock in a transaction that occurred on Tuesday, February 15th. The shares were sold at an average price of $70.00, for a total transaction of $140,000.00. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CTO Christopher Koeppen sold 500 shares of II-VI 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 completion of the transaction, the chief technology officer now owns 29,329 shares in the company, valued at approximately $1,809,892.59. The disclosure for this sale can be found here. Insiders have sold 13,829 shares of company stock valued at $994,357 in the last quarter. Insiders own 2.50% of the company’s stock.

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. First Horizon Advisors Inc. grew its position in shares of II-VI by 276.0% during the 4th quarter. First Horizon Advisors Inc. now owns 485 shares of the scientific and technical instruments company’s stock valued at $33,000 after buying an additional 356 shares during the last quarter. Lindbrook Capital LLC acquired a new position in II-VI during the 4th quarter valued at about $140,000. IFP Advisors Inc lifted its stake 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. Crestwood Advisors Group LLC acquired a new stake in shares of II-VI in the 4th quarter worth approximately $284,000. Finally, Herold Advisors Inc. acquired a new stake in shares of II-VI in the 3rd quarter worth approximately $415,000. 99.48% of the stock is owned by institutional investors.

NASDAQ:IIVI opened at $62.59 on Tuesday. The firm’s 50-day moving average price is $67.88 and its 200-day moving average price is $65.86. The company has a market capitalization of $6.66 billion, a PE ratio of 28.58, a P/E/G ratio of 1.42 and a beta of 1.45. The company has a debt-to-equity ratio of 0.30, a current ratio of 2.00 and a quick ratio of 1.61. II-VI has a 1-year low of $54.35 and a 1-year high of $78.34.

II-VI (NASDAQ:IIVIGet Rating) last announced its quarterly earnings data on Wednesday, February 9th. The scientific and technical instruments company reported $0.79 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.74 by $0.05. The company had revenue of $806.82 million for the quarter, compared to the consensus estimate of $816.20 million. II-VI had a net margin of 9.57% and a return on equity of 13.66%. During the same period in the prior year, the firm posted $0.89 EPS. Equities analysts anticipate that II-VI will post 3.07 EPS for the current fiscal year.

About II-VI (Get Rating)

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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Analyst Recommendations for II-VI (NASDAQ:IIVI)

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