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.
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.
Further Reading: Oversold
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