Benchmark restated their buy rating on shares of II-VI (NASDAQ:IIVI) in a report released on Tuesday, AnalystRatings.com reports. They currently have a $48.00 target price on the scientific and technical instruments company’s stock.
A number of other equities analysts have also recently weighed in on the company. ValuEngine cut II-VI from a buy rating to a hold rating in a report on Tuesday, February 4th. Canaccord Genuity started coverage on II-VI in a report on Wednesday, December 18th. They issued a buy rating and a $46.00 price target for the company. DA Davidson cut their price target on II-VI to $40.00 and set a buy rating for the company in a report on Thursday, November 14th. Northland Securities reissued a hold rating and issued a $30.00 price target on shares of II-VI in a report on Tuesday, November 12th. Finally, Deutsche Bank cut their price target on II-VI from $48.00 to $40.00 and set a buy rating for the company in a report on Wednesday, November 13th. Seven research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. The stock presently has an average rating of Buy and an average price target of $41.00.
Shares of IIVI stock opened at $37.25 on Tuesday. The stock has a fifty day moving average price of $35.80 and a 200 day moving average price of $34.85. II-VI has a 1 year low of $26.93 and a 1 year high of $43.49. The company has a quick ratio of 1.85, a current ratio of 2.78 and a debt-to-equity ratio of 1.12.
In related news, CEO Vincent D. Mattera, Jr. sold 29,000 shares of the company’s stock in a transaction on Friday, January 31st. The stock was sold at an average price of $33.65, for a total value of $975,850.00. Following the completion of the transaction, the chief executive officer now directly owns 455,651 shares in the company, valued at $15,332,656.15. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Howard H. Xia sold 9,300 shares of the company’s stock in a transaction on Wednesday, February 12th. The shares were sold at an average price of $38.00, for a total value of $353,400.00. Following the completion of the transaction, the director now owns 38,064 shares of the company’s stock, valued at $1,446,432. The disclosure for this sale can be found here. Insiders sold 38,800 shares of company stock valued at $1,346,750 over the last quarter. Insiders own 4.20% of the company’s stock.
A number of institutional investors have recently added to or reduced their stakes in the stock. Louisiana State Employees Retirement System increased its stake in II-VI by 1.4% in the fourth quarter. Louisiana State Employees Retirement System now owns 21,100 shares of the scientific and technical instruments company’s stock valued at $710,000 after purchasing an additional 300 shares during the last quarter. Brookstone Capital Management increased its stake in II-VI by 3.1% in the third quarter. Brookstone Capital Management now owns 14,299 shares of the scientific and technical instruments company’s stock valued at $503,000 after purchasing an additional 432 shares during the last quarter. Versant Capital Management Inc increased its stake in II-VI by 122.0% in the third quarter. Versant Capital Management Inc now owns 1,230 shares of the scientific and technical instruments company’s stock valued at $43,000 after purchasing an additional 676 shares during the last quarter. Texas Permanent School Fund grew its position in II-VI by 1.4% during the fourth quarter. Texas Permanent School Fund now owns 59,659 shares of the scientific and technical instruments company’s stock valued at $2,009,000 after acquiring an additional 824 shares during the period. Finally, Benjamin F. Edwards & Company Inc. purchased a new stake in II-VI during the fourth quarter valued at about $29,000. Hedge funds and other institutional investors own 93.40% of the company’s stock.
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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