II-VI Incorporated (NASDAQ:IIVI) Given a $45.00 Price Target by Northland Securities Analysts
II-VI Incorporated (NASDAQ:IIVI) has been assigned a $45.00 price target by Northland Securities in a note issued to investors on Monday. The brokerage presently has a “buy” rating on the scientific and technical instruments company’s stock. Northland Securities’ price objective would indicate a potential upside of 19.21% from the stock’s previous close.
Several other research firms have also commented on IIVI. BidaskClub upgraded II-VI from a “hold” rating to a “buy” rating in a research note on Wednesday, July 19th. B. Riley restated a “buy” rating and issued a $35.75 price target on shares of II-VI in a research report on Monday, May 8th. ValuEngine upgraded II-VI from a “hold” rating to a “buy” rating in a research report on Thursday, June 1st. Needham & Company LLC restated a “buy” rating and issued a $38.00 price target (down from $40.00) on shares of II-VI in a research report on Wednesday, May 3rd. Finally, Benchmark Co. restated a “buy” rating and issued a $40.00 price target on shares of II-VI in a research report on Tuesday, July 4th. Three analysts have rated the stock with a hold rating and five have given a buy rating to the company. II-VI currently has a consensus rating of “Buy” and a consensus price target of $43.42.
II-VI (NASDAQ:IIVI) opened at 37.75 on Monday. The firm’s 50-day moving average price is $36.17 and its 200 day moving average price is $34.65. II-VI has a 12-month low of $20.50 and a 12-month high of $41.10. The stock has a market cap of $2.38 billion, a PE ratio of 31.43 and a beta of 0.07.
II-VI (NASDAQ:IIVI) last posted its quarterly earnings data on Monday, August 7th. The scientific and technical instruments company reported $0.50 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.33 by $0.17. II-VI had a return on equity of 12.94% and a net margin of 9.80%. The company had revenue of $273.70 million during the quarter, compared to analyst estimates of $249.90 million. During the same period in the previous year, the business earned $0.40 EPS. II-VI’s quarterly revenue was up 13.4% on a year-over-year basis. Analysts anticipate that II-VI will post $1.60 EPS for the current year.
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In related news, VP David G. Wagner sold 4,444 shares of the stock in a transaction that occurred on Monday, July 10th. The stock was sold at an average price of $36.00, for a total value of $159,984.00. Following the completion of the transaction, the vice president now directly owns 45,284 shares in the company, valued at $1,630,224. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Francis J. Kramer sold 20,000 shares of the stock in a transaction that occurred on Monday, July 24th. The stock was sold at an average price of $40.00, for a total value of $800,000.00. The disclosure for this sale can be found here. Corporate insiders own 6.80% of the company’s stock.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Bridge City Capital LLC purchased a new position in II-VI during the second quarter worth approximately $1,295,000. SG Americas Securities LLC boosted its position in II-VI by 329.0% in the second quarter. SG Americas Securities LLC now owns 15,112 shares of the scientific and technical instruments company’s stock worth $518,000 after buying an additional 11,589 shares during the period. Rhumbline Advisers boosted its position in II-VI by 1.8% in the second quarter. Rhumbline Advisers now owns 131,153 shares of the scientific and technical instruments company’s stock worth $4,499,000 after buying an additional 2,375 shares during the period. Kornitzer Capital Management Inc. KS purchased a new position in II-VI during the second quarter worth approximately $2,577,000. Finally, Aperio Group LLC boosted its position in II-VI by 3.6% in the second quarter. Aperio Group LLC now owns 22,586 shares of the scientific and technical instruments company’s stock worth $775,000 after buying an additional 784 shares during the period. Institutional investors own 78.41% of the company’s stock.
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.
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