BidaskClub Upgrades II-VI (NASDAQ:IIVI) to “Hold”

BidaskClub upgraded shares of II-VI (NASDAQ:IIVI) from a sell rating to a hold rating in a research note published on Saturday, June 29th, BidAskClub reports.

A number of other equities analysts also recently issued reports on the stock. Zacks Investment Research downgraded shares of Farmers & Merchants Bancorp, Inc. (OH) from a hold rating to a strong sell rating in a report on Thursday, May 9th. Needham & Company LLC raised their target price on shares of Alteryx to $108.00 and gave the stock a buy rating in a research note on Thursday, May 2nd. ValuEngine cut shares of Virtu Financial from a hold rating to a sell rating in a research note on Tuesday, June 18th. Benchmark reiterated a buy rating and set a $130.00 price objective (up previously from $124.00) on shares of TAKE-TWO INTERACTIVE SOFTWARE in a research report on Monday, June 17th. Finally, Craig Hallum cut shares of Worldpay from a buy rating to a hold rating in a research report on Thursday, May 2nd. One analyst has rated the stock with a sell rating, five have assigned a hold rating and eight have given a buy rating to the company. The stock has a consensus rating of Buy and a consensus price target of $49.82.

NASDAQ:IIVI traded up $0.11 on Friday, reaching $37.36. 528,312 shares of the stock traded hands, compared to its average volume of 666,710. The stock’s fifty day moving average is $35.17. 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 firm has a market capitalization of $2.37 billion, a P/E ratio of 21.72, a price-to-earnings-growth ratio of 1.06 and a beta of 1.10. II-VI has a 12 month low of $29.31 and a 12 month high of $50.75.

II-VI (NASDAQ:IIVI) last announced its quarterly earnings results on Wednesday, May 1st. The scientific and technical instruments company reported $0.62 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.41 by $0.21. The firm had revenue of $342.40 million for the quarter, compared to the consensus estimate of $339.93 million. II-VI had a net margin of 8.07% and a return on equity of 10.77%. The business’s quarterly revenue was up 16.2% compared to the same quarter last year. During the same quarter last year, the firm posted $0.36 EPS. As a group, research analysts predict that II-VI will post 1.6 EPS for the current fiscal year.

In other news, Director Shaker Sadasivam bought 14,250 shares of II-VI stock in a transaction on Tuesday, May 21st. The stock was acquired at an average cost of $34.63 per share, for a total transaction of $493,477.50. Following the completion of the acquisition, the director now owns 21,834 shares of the company’s stock, valued at approximately $756,111.42. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Director Joseph J. Corasanti acquired 3,200 shares of the business’s stock in a transaction dated Thursday, May 30th. The shares were bought at an average price of $32.34 per share, for a total transaction of $103,488.00. Following the acquisition, 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. 4.00% of the stock is currently owned by insiders.

Institutional investors have recently added to or reduced their stakes in the business. Divisar Capital Management LLC boosted its position in II-VI by 4.8% in the 4th quarter. Divisar Capital Management LLC now owns 219,526 shares of the scientific and technical instruments company’s stock worth $7,126,000 after purchasing an additional 10,000 shares in the last quarter. Employees Retirement System of Texas purchased a new stake in II-VI in the 4th quarter worth approximately $747,000. Campbell & CO Investment Adviser LLC purchased a new stake in II-VI in the 1st quarter worth approximately $641,000. Vista Investment Management lifted its position in shares of II-VI by 2.7% during the 4th quarter. Vista Investment Management now owns 14,954 shares of the scientific and technical instruments company’s stock valued at $485,000 after buying an additional 387 shares in the last quarter. Finally, Alps Advisors Inc. purchased a new position in shares of II-VI during the 1st quarter valued at approximately $382,000. Institutional investors and hedge funds own 91.02% of the company’s stock.

About II-VI

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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Analyst Recommendations for II-VI (NASDAQ:IIVI)

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