II-VI Inc. (NASDAQ:IIVI) shares rose 1.6% during mid-day trading on Friday . The company traded as high as $20.14 and last traded at $20.01, with a volume of 99,720 shares. The stock had previously closed at $19.69.

IIVI has been the subject of a number of research analyst reports. Zacks Investment Research cut shares of II-VI from a “buy” rating to a “hold” rating in a report on Wednesday, March 30th. Needham & Company LLC reaffirmed a “buy” rating and issued a $26.00 price target on shares of II-VI in a report on Monday, June 13th. Benchmark Co. raised their price target on shares of II-VI from $23.50 to $25.00 and gave the stock a “buy” rating in a report on Tuesday, April 26th. Sidoti initiated coverage on shares of II-VI in a report on Thursday, April 21st. They issued a “buy” rating for the company. Finally, B. Riley reaffirmed a “neutral” rating and issued a $21.50 price target on shares of II-VI in a report on Monday, May 2nd. Three equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. The company has a consensus rating of “Buy” and an average price target of $23.10.

The firm has a market cap of $1.23 billion and a PE ratio of 18.49. The firm has a 50 day moving average price of $19.57 and a 200-day moving average price of $20.05.

II-VI (NASDAQ:IIVI) last issued its quarterly earnings data on Tuesday, April 26th. The company reported $0.35 earnings per share for the quarter, topping the consensus estimate of $0.28 by $0.07. The company had revenue of $205.10 million for the quarter, compared to analysts’ expectations of $192.62 million. The firm’s quarterly revenue was up 10.0% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.23 EPS. Equities research analysts forecast that II-VI Inc. will post $1.12 EPS for the current fiscal year.

In related news, COO Vincent D. Mattera, Jr. sold 11,000 shares of the company’s stock in a transaction on Tuesday, June 14th. The shares were sold at an average price of $20.01, for a total value of $220,110.00. Following the completion of the sale, the chief operating officer now owns 201,457 shares in the company, valued at approximately $4,031,154.57. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Thomas E. Mistler sold 5,000 shares of the company’s stock in a transaction on Thursday, May 19th. The shares were sold at an average price of $19.62, for a total transaction of $98,100.00. Following the completion of the sale, the director now owns 18,650 shares of the company’s stock, valued at approximately $365,913. The disclosure for this sale can be found here.

Other hedge funds have added to or reduced their stakes in the company. Principal Financial Group Inc. increased its stake in II-VI by 4.4% in the fourth quarter. Principal Financial Group Inc. now owns 359,106 shares of the company’s stock valued at $6,665,000 after buying an additional 14,997 shares during the period. First Trust Advisors LP increased its stake in II-VI by 16.9% in the fourth quarter. First Trust Advisors LP now owns 155,926 shares of the company’s stock valued at $2,894,000 after buying an additional 22,535 shares during the period. Bank of Montreal Can increased its stake in II-VI by 420.8% in the fourth quarter. Bank of Montreal Can now owns 127,769 shares of the company’s stock valued at $2,371,000 after buying an additional 103,235 shares during the period. LSV Asset Management increased its stake in II-VI by 133.3% in the fourth quarter. LSV Asset Management now owns 126,709 shares of the company’s stock valued at $2,351,000 after buying an additional 72,407 shares during the period. Finally, Shell Asset Management Co. acquired a new stake in II-VI during the fourth quarter valued at approximately $2,175,000.

II-VI Incorporated develops, manufactures and markets engineered materials and opto-electronic components and products for precision use in industrial, optical communications, military, semiconductor, medical and life science, and consumer applications. The Company has three segments: II-VI Laser Solutions, II-VI Photonics and II-VI Performance Products.

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