II-VI Incorporated (IIVI) Director Howard H. Xia Sells 4,135 Shares of Stock

II-VI Incorporated (NASDAQ:IIVI) Director Howard H. Xia sold 4,135 shares of the stock in a transaction dated 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 is available through this link.

Shares of II-VI Incorporated (IIVI) traded down $0.35 during midday trading on Friday, reaching $51.60. The company’s stock had a trading volume of 594,862 shares, compared to its average volume of 679,414. II-VI Incorporated has a 12-month low of $27.25 and a 12-month high of $52.55. The firm has a market capitalization of $3,240.15, a PE ratio of 31.30 and a beta of 0.02. The company has a debt-to-equity ratio of 0.43, a current ratio of 3.89 and a quick ratio of 2.63.

II-VI (NASDAQ:IIVI) last announced its quarterly earnings data on Tuesday, October 31st. The scientific and technical instruments company reported $0.32 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.36 by ($0.04). II-VI had a net margin of 9.89% and a return on equity of 12.25%. The firm had revenue of $261.50 million for the quarter, compared to analyst estimates of $255.20 million. During the same quarter in the previous year, the company earned $0.35 EPS. The company’s quarterly revenue was up 18.1% compared to the same quarter last year. research analysts anticipate that II-VI Incorporated will post 1.55 EPS for the current fiscal year.

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Several brokerages have issued reports on IIVI. B. Riley restated a “neutral” rating and set a $39.50 price objective on shares of II-VI in a research note on Thursday, August 10th. Needham & Company LLC upped their price objective on II-VI from $50.00 to $56.00 and gave the company a “buy” rating in a research note on Monday, November 13th. Zacks Investment Research cut II-VI from a “buy” rating to a “hold” rating in a research note on Tuesday, November 7th. BidaskClub cut II-VI from a “buy” rating to a “hold” rating in a research note on Monday, July 31st. Finally, Benchmark Co. upped their price objective on II-VI from $40.00 to $44.00 and gave the company a “buy” rating in a research note on Tuesday, August 8th. One research analyst has rated the stock with a sell rating, two have given a hold rating and six have assigned a buy rating to the company. II-VI presently has an average rating of “Buy” and an average target price of $50.64.

A number of hedge funds and other institutional investors have recently made changes to their positions in IIVI. Piedmont Investment Advisors LLC acquired a new stake in shares of II-VI during the 2nd quarter worth approximately $407,000. Argent Capital Management LLC acquired a new stake in shares of II-VI during the 2nd quarter worth approximately $1,610,000. Kornitzer Capital Management Inc. KS raised its position in shares of II-VI by 83.0% during the 3rd quarter. Kornitzer Capital Management Inc. KS now owns 137,480 shares of the scientific and technical instruments company’s stock worth $5,657,000 after purchasing an additional 62,335 shares during the period. SG Americas Securities LLC raised its position in shares of II-VI by 329.0% during the 2nd quarter. SG Americas Securities LLC now owns 15,112 shares of the scientific and technical instruments company’s stock worth $518,000 after purchasing an additional 11,589 shares during the period. Finally, Bridge City Capital LLC acquired a new stake in shares of II-VI during the 2nd quarter worth approximately $1,295,000. Hedge funds and other institutional investors own 79.41% of the company’s stock.

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.

Insider Buying and Selling by Quarter for II-VI (NASDAQ:IIVI)

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