II-VI (NASDAQ:IIVI) Stock Rating Reaffirmed by Benchmark

Benchmark reiterated their buy rating on shares of II-VI (NASDAQ:IIVI) in a report released on Wednesday, AnalystRatings.com reports. The firm currently has a $53.00 price target on the scientific and technical instruments company’s stock.

Other equities research analysts also recently issued research reports about the stock. BTIG Research set a $31.00 target price on shares of II-VI and gave the stock a buy rating in a research note on Friday, August 9th. Needham & Company LLC reiterated a buy rating and set a $44.00 target price (up previously from $39.00) on shares of II-VI in a research note on Monday, August 12th. Northland Securities reiterated a buy rating and set a $42.00 target price on shares of II-VI in a research note on Wednesday. Craig Hallum reiterated a buy rating and set a $54.00 target price (up previously from $47.00) on shares of II-VI in a research note on Thursday, May 2nd. Finally, JPMorgan Chase & Co. began coverage on shares of II-VI in a research note on Monday, July 29th. They set an overweight rating and a $50.00 target price for the company. Two investment analysts have rated the stock with a sell rating, three have issued a hold rating and ten have assigned a buy rating to the company. II-VI has a consensus rating of Buy and an average price target of $45.42.

NASDAQ IIVI opened at $38.26 on Wednesday. The company has a debt-to-equity ratio of 0.39, a current ratio of 3.00 and a quick ratio of 2.15. II-VI has a 1 year low of $29.31 and a 1 year high of $50.75. The company has a market capitalization of $2.35 billion, a PE ratio of 21.40, a P/E/G ratio of 1.10 and a beta of 1.09. The company has a fifty day moving average of $37.78 and a two-hundred day moving average of $37.54.

II-VI (NASDAQ:IIVI) last announced its earnings results on Tuesday, August 13th. The scientific and technical instruments company reported $0.67 earnings per share for the quarter, topping the consensus estimate of $0.38 by $0.29. II-VI had a net margin of 7.89% and a return on equity of 10.37%. The business had revenue of $362.70 million during the quarter, compared to the consensus estimate of $348.02 million. During the same quarter in the prior year, the firm earned $0.52 earnings per share. The business’s quarterly revenue was up 13.0% compared to the same quarter last year. On average, research analysts expect that II-VI will post 1.84 earnings per share for the current year.

In other news, Director Shaker Sadasivam purchased 14,250 shares of the business’s stock in a transaction that occurred on Tuesday, May 21st. The stock was purchased at an average cost of $34.63 per share, with a total value of $493,477.50. Following the completion of the acquisition, the director now directly owns 21,834 shares of the company’s stock, valued at approximately $756,111.42. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Joseph J. Corasanti purchased 3,200 shares of the business’s stock in a transaction that occurred on Thursday, May 30th. The shares were purchased at an average cost of $32.34 per share, with a total value of $103,488.00. Following the completion of the acquisition, the director now directly owns 54,834 shares of the company’s stock, valued at $1,773,331.56. The disclosure for this purchase can be found here. Corporate insiders own 4.00% of the company’s stock.

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Bridge City Capital LLC raised its holdings in II-VI by 0.5% during the second quarter. Bridge City Capital LLC now owns 56,491 shares of the scientific and technical instruments company’s stock worth $2,065,000 after purchasing an additional 280 shares in the last quarter. Campbell & CO Investment Adviser LLC purchased a new position in II-VI during the first quarter worth about $641,000. Alps Advisors Inc. purchased a new position in II-VI during the first quarter worth about $382,000. Brookstone Capital Management raised its holdings in II-VI by 30.0% during the first quarter. Brookstone Capital Management now owns 9,168 shares of the scientific and technical instruments company’s stock worth $341,000 after purchasing an additional 2,113 shares in the last quarter. Finally, Piedmont Investment Advisors Inc. raised its holdings in II-VI by 6.3% during the first quarter. Piedmont Investment Advisors Inc. now owns 15,176 shares of the scientific and technical instruments company’s stock worth $565,000 after purchasing an additional 899 shares in the last quarter. 93.00% of the stock is owned by hedge funds and other institutional investors.

II-VI Company 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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Analyst Recommendations for II-VI (NASDAQ:IIVI)

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