II-VI Incorporated (NASDAQ:IIVI) Receives Average Rating of “Moderate Buy” from Analysts

II-VI Incorporated (NASDAQ:IIVIGet Rating) has earned an average rating of “Moderate Buy” from the sixteen research firms that are presently covering the stock, Marketbeat Ratings reports. One analyst has rated the stock with a sell recommendation, five have given a hold recommendation and eight have given a buy recommendation to the company. The average 12-month price objective among analysts that have issued a report on the stock in the last year is $77.62.

A number of equities research analysts recently commented on IIVI shares. TheStreet downgraded shares of II-VI from a “b-” rating to a “c” rating in a research report on Friday, July 1st. Barclays reduced their price objective on shares of II-VI from $65.00 to $47.00 and set an “underweight” rating for the company in a research report on Monday, July 25th. Susquehanna Bancshares reduced their price objective on shares of II-VI to $58.00 in a research report on Monday, July 25th. Craig Hallum reduced their price objective on shares of II-VI from $85.00 to $80.00 and set a “buy” rating for the company in a research report on Friday, July 1st. Finally, Morgan Stanley dropped their target price on shares of II-VI from $82.00 to $75.00 and set an “overweight” rating for the company in a report on Tuesday, June 14th.

II-VI Price Performance

Shares of IIVI opened at $53.23 on Thursday. II-VI has a fifty-two week low of $45.78 and a fifty-two week high of $75.05. The company has a market capitalization of $5.67 billion, a price-to-earnings ratio of 29.41, a price-to-earnings-growth ratio of 1.38 and a beta of 1.45. The firm has a 50-day simple moving average of $53.94 and a 200-day simple moving average of $61.61. The company has a debt-to-equity ratio of 0.29, a quick ratio of 1.58 and a current ratio of 1.99.

II-VI (NASDAQ:IIVIGet Rating) last announced its quarterly earnings data on Tuesday, May 10th. The scientific and technical instruments company reported $0.83 EPS for the quarter, beating analysts’ consensus estimates of $0.72 by $0.11. The firm had revenue of $827.72 million during the quarter, compared to the consensus estimate of $804.79 million. II-VI had a net margin of 8.44% and a return on equity of 13.85%. The firm’s revenue was up 5.7% compared to the same quarter last year. During the same quarter last year, the firm earned $0.80 earnings per share. On average, equities research analysts anticipate that II-VI will post 3.16 earnings per share for the current year.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the business. Lord Abbett & CO. LLC purchased a new position in shares of II-VI during the 1st quarter worth approximately $46,448,000. Snyder Capital Management L P grew its stake in II-VI by 25.9% in the 1st quarter. Snyder Capital Management L P now owns 628,164 shares of the scientific and technical instruments company’s stock worth $45,536,000 after acquiring an additional 129,285 shares during the period. Waters Parkerson & CO. LLC grew its stake in II-VI by 13.4% in the 2nd quarter. Waters Parkerson & CO. LLC now owns 394,208 shares of the scientific and technical instruments company’s stock worth $20,085,000 after acquiring an additional 46,625 shares during the period. Rhumbline Advisers grew its stake in II-VI by 2.5% in the 1st quarter. Rhumbline Advisers now owns 314,164 shares of the scientific and technical instruments company’s stock worth $22,774,000 after acquiring an additional 7,639 shares during the period. Finally, Braun Stacey Associates Inc. grew its stake in II-VI by 26.7% in the 2nd quarter. Braun Stacey Associates Inc. now owns 289,315 shares of the scientific and technical instruments company’s stock worth $14,741,000 after acquiring an additional 61,003 shares during the period. 97.88% of the stock is owned by hedge funds and other institutional investors.

II-VI Company Profile

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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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