Piper Jaffray Companies assumed coverage on shares of II-VI (NASDAQ:IIVI) in a report released on Tuesday, MarketBeat.com reports. The firm set an “overweight” rating and a $50.00 price target on the scientific and technical instruments company’s stock. Piper Jaffray Companies’ target price suggests a potential upside of 26.74% from the stock’s current price.

IIVI has been the subject of a number of other reports. Zacks Investment Research upgraded shares of II-VI from a “sell” rating to a “buy” rating and set a $47.00 price objective for the company in a research report on Friday, November 3rd. Benchmark reiterated a “buy” rating and set a $52.00 price objective (up from $44.00) on shares of II-VI in a research report on Wednesday, November 1st. BidaskClub cut shares of II-VI from a “buy” rating to a “hold” rating in a research report on Saturday, December 2nd. upped their price target on shares of II-VI from $50.00 to $56.00 and gave the company a “buy” rating in a research report on Wednesday, November 15th. Finally, Craig Hallum restated a “buy” rating and issued a $58.00 price target (up from $50.00) on shares of II-VI in a research report on Wednesday, November 1st. One analyst has rated the stock with a sell rating, four have issued a hold rating and six have given a buy rating to the company’s stock. II-VI has an average rating of “Hold” and a consensus price target of $52.17.

II-VI (NASDAQ:IIVI) opened at $39.45 on Tuesday. The stock has a market cap of $2,460.00 and a P/E ratio of 29.89. II-VI has a 12-month low of $27.25 and a 12-month high of $53.08. The company has a current ratio of 4.01, a quick ratio of 2.71 and a debt-to-equity ratio of 0.48.

II-VI (NASDAQ:IIVI) last released its quarterly earnings data on Thursday, February 1st. The scientific and technical instruments company reported $0.39 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.37 by $0.02. The business had revenue of $281.50 million during the quarter, compared to analysts’ expectations of $277.16 million. II-VI had a net margin of 8.08% and a return on equity of 11.10%. The firm’s quarterly revenue was up 21.4% compared to the same quarter last year. During the same period in the prior year, the company earned $0.49 EPS. analysts anticipate that II-VI will post 1.55 earnings per share for the current year.

In other II-VI news, Director Howard H. Xia sold 4,135 shares of the company’s stock in a transaction that occurred on Wednesday, November 22nd. The shares were sold at an average price of $51.58, for a total value of $213,283.30. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP David G. Wagner sold 6,577 shares of the company’s stock in a transaction that occurred on Thursday, November 30th. The shares were sold at an average price of $47.63, for a total transaction of $313,262.51. The disclosure for this sale can be found here. Corporate insiders own 3.80% of the company’s stock.

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Raymond James & Associates acquired a new position in II-VI in the 4th quarter valued at approximately $556,000. Teachers Retirement System of The State of Kentucky increased its position in shares of II-VI by 9.7% during the fourth quarter. Teachers Retirement System of The State of Kentucky now owns 99,305 shares of the scientific and technical instruments company’s stock worth $4,662,000 after buying an additional 8,759 shares during the period. Robecosam AG increased its position in shares of II-VI by 520.0% during the fourth quarter. Robecosam AG now owns 310,000 shares of the scientific and technical instruments company’s stock worth $14,741,000 after buying an additional 260,000 shares during the period. Stone Ridge Asset Management LLC acquired a new stake in shares of II-VI during the fourth quarter worth $210,000. Finally, Discovery Capital Management LLC CT acquired a new stake in shares of II-VI during the fourth quarter worth $116,367,000. Hedge funds and other institutional investors own 81.26% of the company’s stock.

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About II-VI

II-VI Incorporated develops and manufactures engineered materials, optoelectronic components and products. The Company has three segments: II-VI Laser Solutions, II-VI Photonics and II-VI Performance Products. The II-VI Laser Solutions segment designs, manufactures and markets optical and electro-optical components and materials sold under the II-VI Infrared brand name and used in carbon dioxide (CO2) lasers, fiber-delivered beam delivery systems and processing tools and direct diode lasers for industrial lasers sold under the II-VI HIGHYAG and II-VI Laser Enterprise brand names.

Analyst Recommendations for II-VI (NASDAQ:IIVI)

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