Rhumbline Advisers boosted its stake in shares of II-VI, Inc. (NASDAQ:IIVI) by 1.6% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 286,512 shares of the scientific and technical instruments company’s stock after purchasing an additional 4,460 shares during the period. Rhumbline Advisers owned about 0.31% of II-VI worth $8,166,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of IIVI. Iridian Asset Management LLC CT bought a new position in II-VI during the fourth quarter valued at approximately $46,943,000. Franklin Resources Inc. lifted its position in II-VI by 2,106.9% during the fourth quarter. Franklin Resources Inc. now owns 1,323,500 shares of the scientific and technical instruments company’s stock valued at $44,562,000 after purchasing an additional 1,263,530 shares during the period. Norges Bank bought a new position in II-VI during the fourth quarter valued at approximately $29,066,000. Mariner LLC bought a new position in II-VI in the fourth quarter worth approximately $26,918,000. Finally, Robecosam AG raised its position in II-VI by 46.3% in the first quarter. Robecosam AG now owns 2,517,000 shares of the scientific and technical instruments company’s stock worth $72,943,000 after acquiring an additional 797,000 shares during the period. Institutional investors own 90.14% of the company’s stock.

Several research firms have weighed in on IIVI. Benchmark reiterated a “buy” rating and issued a $48.00 price target on shares of II-VI in a research report on Tuesday, February 11th. Morgan Stanley increased their price target on shares of II-VI from $26.00 to $42.00 and gave the stock an “equal weight” rating in a research report on Tuesday, May 12th. B. Riley increased their price target on shares of II-VI from $28.50 to $35.00 and gave the stock a “neutral” rating in a research report on Tuesday, May 12th. ValuEngine cut shares of II-VI from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, March 24th. Finally, Needham & Company LLC reissued a “buy” rating and issued a $52.00 price objective on shares of II-VI in a research note on Wednesday. Four equities research analysts have rated the stock with a hold rating, thirteen have given a buy rating and two have given a strong buy rating to the company. II-VI has an average rating of “Buy” and an average price target of $47.62.

IIVI opened at $45.28 on Friday. II-VI, Inc. has a fifty-two week low of $19.00 and a fifty-two week high of $48.68. The company has a debt-to-equity ratio of 1.14, a quick ratio of 1.69 and a current ratio of 2.80. The company has a fifty day moving average of $32.65 and a 200 day moving average of $32.31. The stock has a market capitalization of $4.13 billion, a price-to-earnings ratio of -46.20 and a beta of 1.17.

II-VI (NASDAQ:IIVI) last released its quarterly earnings data on Monday, May 11th. The scientific and technical instruments company reported $0.47 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.14 by $0.33. II-VI had a negative net margin of 4.52% and a negative return on equity of 4.91%. The business had revenue of $627.00 million during the quarter, compared to analyst estimates of $575.66 million. During the same quarter last year, the business earned $0.62 earnings per share. II-VI’s quarterly revenue was up 83.1% compared to the same quarter last year. On average, equities research analysts forecast that II-VI, Inc. will post -1.27 earnings per share for the current year.

In other II-VI news, Director Francis J. Kramer sold 20,000 shares of the stock in a transaction on Tuesday, April 28th. The shares were sold at an average price of $33.05, for a total transaction of $661,000.00. Following the completion of the transaction, the director now owns 183,892 shares in the company, valued at $6,077,630.60. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, President Walter Robert Bashaw II sold 10,969 shares of the firm’s stock in a transaction dated Tuesday, May 19th. The stock was sold at an average price of $45.82, for a total transaction of $502,599.58. Following the completion of the sale, the president now owns 19,233 shares of the company’s stock, valued at approximately $881,256.06. The disclosure for this sale can be found here. Insiders have sold 70,949 shares of company stock valued at $2,807,443 in the last quarter. 4.20% of the stock is owned by company insiders.

II-VI Profile

II-VI Incorporated develops, manufactures, and markets engineered materials, and optoelectronic components and devices worldwide. The company operates in three segments: II-VI Laser Solutions, II-VI Photonics, and II-VI Performance Products. The II-VI Laser Solutions segment offers optical and electro-optical components and materials primarily used in high-power CO2 lasers; fiber-delivered beam delivery systems, and processing tools and direct diode lasers for industrial lasers; direct diode laser modules, sub-systems, and systems; super-hard materials processing laser systems; and compound semiconductor epitaxial and gallium arsenide wafers.

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Institutional Ownership by Quarter for II-VI (NASDAQ:IIVI)

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