II-VI (NASDAQ:IIVI) Earns “Buy” Rating from Needham & Company LLC

Needham & Company LLC restated their buy rating on shares of II-VI (NASDAQ:IIVI) in a research report sent to investors on Monday, TipRanks reports. They currently have a $57.00 target price on the scientific and technical instruments company’s stock.

Other analysts have also recently issued reports about the company. Piper Sandler raised their price target on II-VI from $40.00 to $54.00 and gave the company an overweight rating in a research note on Tuesday, May 12th. Craig Hallum raised their target price on II-VI from $35.00 to $55.00 and gave the stock a buy rating in a research report on Tuesday, May 12th. B. Riley assumed coverage on II-VI in a research note on Tuesday, June 30th. They set a hold rating and a $35.00 target price for the company. Barclays increased their price target on shares of II-VI from $31.00 to $54.00 and gave the company an overweight rating in a research note on Tuesday, May 12th. Finally, Deutsche Bank increased their target price on shares of II-VI from $35.00 to $50.00 and gave the company a buy rating in a research report on Tuesday, May 12th. Five analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has issued a strong buy rating to the company. The stock presently has an average rating of Buy and a consensus target price of $49.32.

IIVI stock opened at $43.16 on Monday. The business’s 50-day moving average is $47.30 and its two-hundred day moving average is $36.20. The company has a debt-to-equity ratio of 1.14, a current ratio of 2.80 and a quick ratio of 1.69. The firm has a market capitalization of $4.02 billion, a P/E ratio of -44.04, a P/E/G ratio of 2.48 and a beta of 1.29. II-VI has a 1 year low of $19.00 and a 1 year high of $51.90.

II-VI (NASDAQ:IIVI) last issued its earnings results on Monday, May 11th. The scientific and technical instruments company reported $0.47 earnings per share 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 firm had revenue of $627.00 million for the quarter, compared to analysts’ expectations of $575.66 million. During the same quarter last year, the company earned $0.62 earnings per share. The firm’s revenue was up 83.1% compared to the same quarter last year. On average, analysts expect that II-VI will post -1.13 EPS for the current year.

In other II-VI news, Director Francis J. Kramer sold 20,000 shares of the business’s stock in a transaction on Tuesday, April 28th. The shares were sold at an average price of $33.05, for a total value of $661,000.00. Following the transaction, the director now directly owns 183,892 shares of the company’s stock, valued at approximately $6,077,630.60. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, President Walter Robert Bashaw II sold 10,969 shares of the company’s stock in a transaction on Tuesday, May 19th. The stock was sold at an average price of $45.82, for a total transaction of $502,599.58. Following the transaction, 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 sold a total of 99,949 shares of company stock worth $4,223,658 over the last quarter. Company insiders own 4.20% of the company’s stock.

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Larson Financial Group LLC acquired a new position in II-VI during the 1st quarter worth approximately $29,000. Robecosam AG boosted its stake in shares of II-VI by 36.1% in the fourth quarter. Robecosam AG now owns 1,720,000 shares of the scientific and technical instruments company’s stock valued at $34,000 after buying an additional 456,000 shares in the last quarter. FDx Advisors Inc. acquired a new position in II-VI during the first quarter worth $34,000. Sowell Financial Services LLC purchased a new position in II-VI in the first quarter worth $69,000. Finally, Migdal Insurance & Financial Holdings Ltd. acquired a new stake in II-VI in the fourth quarter valued at $96,000. 99.54% 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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