II-VI, Inc. (NASDAQ:IIVI) CFO Sells $628,000.00 in Stock

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II-VI, Inc. (NASDAQ:IIVI) CFO Mary Jane Raymond sold 16,000 shares of II-VI stock in a transaction dated Monday, August 19th. The stock was sold at an average price of $39.25, for a total value of $628,000.00. Following the completion of the sale, the chief financial officer now directly owns 48,427 shares in the company, valued at $1,900,759.75. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink.

Shares of NASDAQ IIVI opened at $38.70 on Friday. II-VI, Inc. has a 1-year low of $29.31 and a 1-year high of $50.75. The business’s 50 day moving average is $38.04 and its two-hundred day moving average is $37.58. The stock has a market capitalization of $2.48 billion, a P/E ratio of 22.55, a PEG ratio of 0.97 and a beta of 1.09. 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 announced its earnings results on Tuesday, August 13th. The scientific and technical instruments company reported $0.67 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.38 by $0.29. II-VI had a return on equity of 10.37% and a net margin of 7.89%. The business had revenue of $362.70 million during the quarter, compared to analyst estimates of $348.02 million. During the same quarter in the previous year, the business earned $0.52 earnings per share. The company’s revenue for the quarter was up 13.0% compared to the same quarter last year. As a group, equities research analysts anticipate that II-VI, Inc. will post 1.84 earnings per share for the current fiscal year.

Several large investors have recently made changes to their positions in IIVI. State Treasurer State of Michigan boosted its position in shares of II-VI by 2,427.1% during the second quarter. State Treasurer State of Michigan now owns 832,961 shares of the scientific and technical instruments company’s stock valued at $30,453,000 after buying an additional 800,000 shares during the period. Eagle Asset Management Inc. boosted its position in shares of II-VI by 248.9% during the second quarter. Eagle Asset Management Inc. now owns 1,001,755 shares of the scientific and technical instruments company’s stock valued at $36,624,000 after buying an additional 714,597 shares during the period. Carillon Tower Advisers Inc. boosted its position in shares of II-VI by 321.7% during the second quarter. Carillon Tower Advisers Inc. now owns 650,000 shares of the scientific and technical instruments company’s stock valued at $23,764,000 after buying an additional 495,852 shares during the period. Nuveen Asset Management LLC purchased a new position in shares of II-VI during the second quarter valued at approximately $9,344,000. Finally, Victory Capital Management Inc. boosted its position in shares of II-VI by 4,866.1% during the second quarter. Victory Capital Management Inc. now owns 206,042 shares of the scientific and technical instruments company’s stock valued at $7,533,000 after buying an additional 201,893 shares during the period. Institutional investors and hedge funds own 94.33% of the company’s stock.

IIVI has been the topic of several analyst reports. Zacks Investment Research cut II-VI from a “hold” rating to a “strong sell” rating in a research note on Friday, August 2nd. Benchmark reissued a “buy” rating and set a $53.00 price objective on shares of II-VI in a research note on Wednesday, August 14th. Craig Hallum reissued a “buy” rating and set a $54.00 price objective (up from $47.00) on shares of II-VI in a research note on Thursday, May 2nd. Needham & Company LLC reissued a “buy” rating and set a $44.00 price objective (up from $39.00) on shares of II-VI in a research note on Monday, August 12th. Finally, ValuEngine raised II-VI from a “sell” rating to a “hold” rating in a research note on Tuesday, June 18th. Two equities research analysts have rated the stock with a sell rating, three have given a hold rating and ten have assigned a buy rating to the company. The company presently has a consensus rating of “Buy” and a consensus target price of $45.42.

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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