Raymond James Financial Services Advisors Inc. lifted its position in II-VI, Inc. (NASDAQ:IIVI) by 1.4% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 25,725 shares of the scientific and technical instruments company’s stock after acquiring an additional 365 shares during the period. Raymond James Financial Services Advisors Inc.’s holdings in II-VI were worth $958,000 at the end of the most recent quarter.
Several other large investors have also recently made changes to their positions in the stock. Bank of Montreal Can raised its holdings in II-VI by 12.8% during the fourth quarter. Bank of Montreal Can now owns 4,043 shares of the scientific and technical instruments company’s stock worth $131,000 after purchasing an additional 459 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in II-VI by 195.6% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 11,788 shares of the scientific and technical instruments company’s stock worth $383,000 after purchasing an additional 7,800 shares in the last quarter. Advisors Asset Management Inc. purchased a new position in II-VI during the fourth quarter worth about $130,000. Rhumbline Advisers raised its holdings in II-VI by 22.1% during the fourth quarter. Rhumbline Advisers now owns 185,703 shares of the scientific and technical instruments company’s stock worth $6,028,000 after purchasing an additional 33,642 shares in the last quarter. Finally, SG Americas Securities LLC purchased a new position in II-VI during the fourth quarter worth about $1,300,000. Institutional investors and hedge funds own 91.01% of the company’s stock.
Shares of IIVI traded up $0.85 on Monday, hitting $37.41. 1,047,600 shares of the stock traded hands, compared to its average volume of 774,120. The company has a quick ratio of 2.15, a current ratio of 3.41 and a debt-to-equity ratio of 0.44. The stock has a market cap of $2.32 billion, a price-to-earnings ratio of 21.75, a P/E/G ratio of 1.35 and a beta of 1.10. The firm has a 50 day moving average price of $33.90. II-VI, Inc. has a 1 year low of $29.31 and a 1 year high of $50.75.
IIVI has been the subject of several analyst reports. BidaskClub raised shares of II-VI from a “strong sell” rating to a “sell” rating in a report on Thursday, June 13th. Zacks Investment Research lowered shares of II-VI from a “hold” rating to a “sell” rating in a research report on Thursday, May 9th. ValuEngine lowered shares of II-VI from a “buy” rating to a “hold” rating in a research report on Sunday, March 3rd. Benchmark restated a “buy” rating and set a $57.00 target price on shares of II-VI in a research report on Monday, June 17th. Finally, Northland Securities set a $41.00 target price on shares of II-VI and gave the stock a “buy” rating in a research report on Monday, May 20th. Two research analysts have rated the stock with a sell rating, four have issued a hold rating and eight have given a buy rating to the company. II-VI presently has an average rating of “Hold” and a consensus target price of $49.82.
In other II-VI news, Director Francis J. Kramer sold 10,050 shares of the stock in a transaction that occurred on Friday, April 12th. The shares were sold at an average price of $40.52, for a total transaction of $407,226.00. Following the transaction, the director now owns 172,697 shares of the company’s stock, valued at $6,997,682.44. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director Joseph J. Corasanti purchased 3,200 shares of the business’s stock in a transaction on Thursday, May 30th. The shares were bought at an average cost of $32.34 per share, for a total transaction of $103,488.00. Following the purchase, the director now owns 54,834 shares of the company’s stock, valued at $1,773,331.56. The disclosure for this purchase can be found here. Insiders have sold 25,850 shares of company stock worth $1,040,609 in the last three months. Insiders own 4.00% of the company’s stock.
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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