NumerixS Investment Technologies Inc grew its holdings in shares of II-VI, Inc. (NASDAQ:IIVI) by 398.3% during the first quarter, Holdings Channel reports. The institutional investor owned 2,990 shares of the scientific and technical instruments company’s stock after buying an additional 2,390 shares during the period. NumerixS Investment Technologies Inc’s holdings in II-VI were worth $110,000 at the end of the most recent quarter.
Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Advisory Services Network LLC grew its stake in shares of II-VI by 750.0% during the fourth quarter. Advisory Services Network LLC now owns 850 shares of the scientific and technical instruments company’s stock valued at $28,000 after buying an additional 750 shares during the last quarter. Versant Capital Management Inc grew its stake in shares of II-VI by 578.4% during the first quarter. Versant Capital Management Inc now owns 1,289 shares of the scientific and technical instruments company’s stock valued at $48,000 after buying an additional 1,099 shares during the last quarter. Doyle Wealth Management bought a new position in shares of II-VI during the fourth quarter valued at approximately $49,000. Advisors Asset Management Inc. bought a new position in shares of II-VI during the fourth quarter valued at approximately $130,000. Finally, Bank of Montreal Can grew its stake in shares of II-VI by 12.8% during the fourth quarter. Bank of Montreal Can now owns 4,043 shares of the scientific and technical instruments company’s stock valued at $131,000 after buying an additional 459 shares during the last quarter. 91.01% of the stock is currently owned by hedge funds and other institutional investors.
Shares of NASDAQ IIVI opened at $33.65 on Friday. The company has a quick ratio of 2.15, a current ratio of 3.41 and a debt-to-equity ratio of 0.44. The company has a market capitalization of $2.21 billion, a P/E ratio of 19.76, a PEG ratio of 1.28 and a beta of 1.04. II-VI, Inc. has a 52-week low of $29.31 and a 52-week high of $50.75.
A number of research firms have recently commented on IIVI. Needham & Company LLC reaffirmed a “buy” rating and set a $46.00 target price (down previously from $48.00) on shares of II-VI in a research note on Thursday, May 2nd. Benchmark reaffirmed a “buy” rating and set a $57.00 target price (up previously from $55.00) on shares of II-VI in a research note on Thursday, May 2nd. BidaskClub cut II-VI from a “sell” rating to a “strong sell” rating in a research note on Friday, May 24th. Northland Securities set a $41.00 target price on II-VI and gave the company a “buy” rating in a research note on Monday, May 20th. Finally, ValuEngine cut II-VI from a “hold” rating to a “sell” rating in a research note on Monday, June 3rd. Four research analysts have rated the stock with a sell rating, two have issued a hold rating and eight have issued a buy rating to the company. The stock currently has a consensus rating of “Hold” and an average price target of $49.82.
In other II-VI news, insider Vincent D. Mattera, Jr. sold 1,973 shares of the company’s stock in a transaction on Monday, April 8th. The stock was sold at an average price of $40.00, for a total transaction of $78,920.00. Following the completion of the sale, the insider now owns 260,138 shares in the company, valued at $10,405,520. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director Francis J. Kramer sold 10,050 shares of the company’s stock in a transaction on Friday, April 12th. The stock was sold at an average price of $40.52, for a total value of $407,226.00. Following the sale, the director now owns 172,697 shares of the company’s stock, valued at approximately $6,997,682.44. The disclosure for this sale can be found here. Insiders sold 25,850 shares of company stock valued at $1,040,609 in the last quarter. 4.00% of the stock is owned by company insiders.
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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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