II-VI (NASDAQ:IIVI) was upgraded by investment analysts at ValuEngine from a “hold” rating to a “buy” rating in a research note issued on Wednesday, ValuEngine reports.

Other equities research analysts have also issued reports about the stock. Benchmark restated a “buy” rating and issued a $53.00 price objective on shares of II-VI in a report on Wednesday, August 14th. 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. BidaskClub upgraded shares of II-VI from a “hold” rating to a “buy” rating in a research note on Friday, July 26th. B. Riley dropped their target price on II-VI from $41.00 to $39.00 and set a “neutral” rating on the stock in a report on Wednesday, August 14th. Finally, JPMorgan Chase & Co. initiated coverage on II-VI in a research note on Monday, July 29th. They issued an “overweight” rating and a $50.00 price target on the stock. Two analysts have rated the stock with a sell rating, two have assigned a hold rating and ten have given a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and a consensus target price of $44.27.

Shares of IIVI stock traded up $1.76 during trading hours on Wednesday, reaching $41.27. 877,539 shares of the stock were exchanged, compared to its average volume of 756,505. The business’s fifty day moving average is $38.35 and its two-hundred day moving average is $37.53. The firm has a market capitalization of $2.63 billion, a P/E ratio of 25.32, a P/E/G ratio of 0.97 and a beta of 1.12. II-VI has a 12-month low of $29.31 and a 12-month high of $49.10. The company has a debt-to-equity ratio of 0.39, a current ratio of 3.00 and a quick ratio of 1.91.

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

In other II-VI news, CFO Mary Jane Raymond sold 16,000 shares of the firm’s stock in a transaction that occurred on Monday, August 19th. The shares were sold at an average price of $39.25, for a total transaction of $628,000.00. Following the sale, the chief financial officer now owns 48,427 shares of the company’s stock, valued at $1,900,759.75. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. 4.00% of the stock is currently owned by company insiders.

Several institutional investors have recently modified their holdings of IIVI. Geode Capital Management LLC raised its stake in II-VI by 12.4% during the 4th quarter. Geode Capital Management LLC now owns 686,345 shares of the scientific and technical instruments company’s stock worth $22,278,000 after acquiring an additional 75,549 shares in the last quarter. Alps Advisors Inc. purchased a new position in shares of II-VI during the first quarter worth about $382,000. Rhumbline Advisers grew its holdings in shares of II-VI by 1.6% during the first quarter. Rhumbline Advisers now owns 188,603 shares of the scientific and technical instruments company’s stock worth $7,024,000 after purchasing an additional 2,900 shares during the last quarter. Comerica Bank increased its position in shares of II-VI by 1.8% during the first quarter. Comerica Bank now owns 59,382 shares of the scientific and technical instruments company’s stock worth $2,386,000 after purchasing an additional 1,031 shares in the last quarter. Finally, Crossmark Global Holdings Inc. acquired a new stake in shares of II-VI during the first quarter worth about $206,000. Institutional investors and hedge funds own 93.79% 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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