II-VI (NASDAQ:IIVI) Receives Outperform Rating from Cowen

Cowen reiterated their outperform rating on shares of II-VI (NASDAQ:IIVI) in a research report sent to investors on Tuesday, The Fly reports.

Several other equities analysts also recently commented on the company. B. Riley reaffirmed a neutral rating on shares of II-VI in a research report on Friday, November 8th. Deutsche Bank reduced their price target on II-VI from $48.00 to $40.00 and set a buy rating on the stock in a research report on Wednesday, November 13th. DA Davidson reduced their price target on II-VI to $40.00 and set a buy rating on the stock in a research report on Thursday, November 14th. Northland Securities reissued a hold rating and set a $30.00 price target on shares of II-VI in a research report on Tuesday, November 12th. Finally, Zacks Investment Research downgraded II-VI from a hold rating to a strong sell rating in a research report on Wednesday, January 8th. Seven investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. The company presently has a consensus rating of Buy and an average price target of $41.00.

II-VI stock opened at $37.25 on Tuesday. II-VI has a 12 month low of $26.93 and a 12 month high of $43.49. The stock’s 50 day moving average is $35.80 and its 200-day moving average is $34.85. The company has a quick ratio of 1.85, a current ratio of 2.78 and a debt-to-equity ratio of 1.12.

II-VI (NASDAQ:IIVI) last posted its earnings results on Monday, February 10th. The scientific and technical instruments company reported $0.36 EPS for the quarter, meeting the consensus estimate of $0.36. II-VI had a negative return on equity of 4.44% and a negative net margin of 4.18%. The company had revenue of $666.30 million for the quarter, compared to the consensus estimate of $610.30 million. During the same quarter in the prior year, the business earned $0.71 earnings per share. The firm’s revenue for the quarter was up 94.3% on a year-over-year basis. Research analysts predict that II-VI will post -2.12 earnings per share for the current fiscal year.

In other II-VI news, Director Howard H. Xia sold 9,300 shares of the company’s stock in a transaction on Wednesday, February 12th. The stock was sold at an average price of $38.00, for a total transaction of $353,400.00. Following the completion of the sale, the director now directly owns 38,064 shares in the company, valued at $1,446,432. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Vincent D. Mattera, Jr. sold 29,000 shares of the company’s stock in a transaction on Friday, January 31st. The stock was sold at an average price of $33.65, for a total value of $975,850.00. Following the sale, the chief executive officer now owns 455,651 shares of the company’s stock, valued at $15,332,656.15. The disclosure for this sale can be found here. Insiders have sold 38,800 shares of company stock worth $1,346,750 in the last three months. 4.20% of the stock is currently owned by company insiders.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in IIVI. Benjamin F. Edwards & Company Inc. bought a new stake in II-VI during the fourth quarter worth $29,000. GQ Asset Management LLC bought a new stake in II-VI during the third quarter worth $33,000. Robecosam AG lifted its stake in shares of II-VI by 36.1% in the 4th quarter. Robecosam AG now owns 1,720,000 shares of the scientific and technical instruments company’s stock valued at $34,000 after acquiring an additional 456,000 shares during the last quarter. Versant Capital Management Inc lifted its stake in shares of II-VI by 122.0% in the 3rd quarter. Versant Capital Management Inc now owns 1,230 shares of the scientific and technical instruments company’s stock valued at $43,000 after acquiring an additional 676 shares during the last quarter. Finally, Emerald Advisers LLC bought a new position in shares of II-VI in the 4th quarter valued at $47,000. Hedge funds and other institutional investors own 93.40% of the company’s stock.

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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