II-VI Incorporated (NASDAQ:IIVI) released its quarterly earnings results on Monday. The scientific and technical instruments company reported $0.50 earnings per share for the quarter, topping the consensus estimate of $0.33 by $0.17, Bloomberg Earnings reports. The company had revenue of $273.70 million during the quarter, compared to the consensus estimate of $249.90 million. II-VI had a return on equity of 12.49% and a net margin of 8.19%. II-VI’s revenue was up 13.4% compared to the same quarter last year. During the same quarter last year, the business posted $0.40 earnings per share. II-VI updated its Q1 guidance to $0.37-0.41 EPS.

Shares of II-VI (IIVI) traded up 7.50% on Monday, hitting $38.00. The company’s stock had a trading volume of 727,985 shares. The stock has a market capitalization of $2.40 billion, a P/E ratio of 31.64 and a beta of 0.07. The stock’s 50 day moving average price is $35.92 and its 200 day moving average price is $34.63. II-VI has a 52 week low of $20.29 and a 52 week high of $41.10.

IIVI has been the subject of several recent research reports. ValuEngine raised II-VI from a “hold” rating to a “buy” rating in a research report on Thursday, June 1st. Benchmark Co. reaffirmed a “buy” rating on shares of II-VI in a research report on Sunday, June 25th. Needham & Company LLC reaffirmed a “buy” rating and issued a $38.00 price objective (down previously from $40.00) on shares of II-VI in a research report on Wednesday, May 3rd. BidaskClub raised II-VI from a “sell” rating to a “hold” rating in a research report on Thursday, June 15th. Finally, Northland Securities initiated coverage on II-VI in a research report on Thursday, July 6th. They issued an “outperform” rating and a $45.00 price objective for the company. Three investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. II-VI has a consensus rating of “Buy” and an average price target of $42.75.

In other II-VI news, VP David G. Wagner sold 4,444 shares of the stock in a transaction on Monday, July 10th. The shares were sold at an average price of $36.00, for a total transaction of $159,984.00. Following the transaction, the vice president now directly owns 45,284 shares of the company’s stock, valued at $1,630,224. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Francis J. Kramer sold 20,000 shares of the stock in a transaction on Monday, July 24th. The stock was sold at an average price of $40.00, for a total transaction of $800,000.00. The disclosure for this sale can be found here. Corporate insiders own 6.80% of the company’s stock.

Large investors have recently added to or reduced their stakes in the stock. Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in II-VI by 91.7% in the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,764 shares of the scientific and technical instruments company’s stock worth $100,000 after buying an additional 1,322 shares during the period. Meadow Creek Investment Management LLC boosted its stake in II-VI by 1.9% in the first quarter. Meadow Creek Investment Management LLC now owns 2,996 shares of the scientific and technical instruments company’s stock worth $108,000 after buying an additional 56 shares during the period. Glen Harbor Capital Management LLC boosted its stake in II-VI by 1.9% in the first quarter. Glen Harbor Capital Management LLC now owns 3,638 shares of the scientific and technical instruments company’s stock worth $131,000 after buying an additional 68 shares during the period. Mutual of America Capital Management LLC purchased a new stake in II-VI during the first quarter worth about $180,000. Finally, LS Investment Advisors LLC boosted its stake in II-VI by 158.9% in the first quarter. LS Investment Advisors LLC now owns 5,061 shares of the scientific and technical instruments company’s stock worth $182,000 after buying an additional 3,106 shares during the period. Institutional investors own 78.41% of the company’s stock.

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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.

Earnings History for II-VI (NASDAQ:IIVI)

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