II-VI, Inc. (NASDAQ:IIVI) – Investment analysts at DA Davidson issued their Q3 2020 earnings per share estimates for II-VI in a research note issued to investors on Wednesday, February 12th. DA Davidson analyst T. Diffely anticipates that the scientific and technical instruments company will earn ($0.45) per share for the quarter. DA Davidson has a “Buy” rating on the stock. DA Davidson also issued estimates for II-VI’s FY2020 earnings at ($2.06) EPS and FY2021 earnings at $0.50 EPS.
Several other research analysts also recently commented on the company. Raymond James downgraded II-VI from an “outperform” rating to a “market perform” rating in a research note on Friday, January 10th. They noted that the move was a valuation call. Needham & Company LLC reaffirmed a “buy” rating and issued a $43.00 price objective on shares of II-VI in a research note on Tuesday. Cowen reaffirmed an “outperform” rating on shares of II-VI in a research note on Tuesday. Canaccord Genuity decreased their price objective on II-VI from $46.00 to $42.00 and set a “buy” rating on the stock in a research note on Tuesday. Finally, Piper Sandler reaffirmed a “buy” rating on shares of II-VI in a research note on Tuesday. Seven analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. The stock currently has a consensus rating of “Buy” and an average price target of $41.00.
NASDAQ IIVI opened at $37.25 on Friday. The stock’s 50-day moving average price is $35.80 and its 200-day moving average price is $34.85. The company has a quick ratio of 1.85, a current ratio of 3.22 and a debt-to-equity ratio of 1.14. II-VI has a 52 week low of $26.93 and a 52 week high of $43.49. The company has a market capitalization of $3.39 billion, a P/E ratio of -56.44 and a beta of 1.17.
II-VI (NASDAQ:IIVI) last posted its quarterly earnings data on Monday, February 10th. The scientific and technical instruments company reported $0.36 EPS for the quarter, hitting the consensus estimate of $0.36. II-VI had a negative return on equity of 4.90% and a negative net margin of 4.18%. The firm had revenue of $666.30 million for the quarter, compared to the consensus estimate of $610.30 million. During the same quarter last year, the company earned $0.71 earnings per share. The business’s revenue for the quarter was up 94.3% compared to the same quarter last year.
In related news, CEO Vincent D. Mattera, Jr. sold 29,000 shares of II-VI stock in a transaction that occurred on Friday, January 31st. The stock was sold at an average price of $33.65, for a total transaction of $975,850.00. Following the sale, the chief executive officer now owns 455,651 shares of the company’s stock, valued at approximately $15,332,656.15. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Howard H. Xia sold 9,300 shares of II-VI stock in a transaction that occurred 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 sale, the director now directly owns 38,064 shares in the company, valued at approximately $1,446,432. The disclosure for this sale can be found here. Insiders have sold a total of 38,800 shares of company stock worth $1,346,750 in the last three months. 4.20% of the stock is owned by corporate insiders.
Institutional investors and hedge funds have recently modified their holdings of the stock. Benjamin F. Edwards & Company Inc. bought a new stake in II-VI in the 4th quarter worth approximately $29,000. GQ Asset Management LLC bought a new stake in II-VI in the 3rd quarter worth approximately $33,000. Robecosam AG increased its stake in II-VI by 36.1% in the 4th quarter. Robecosam AG now owns 1,720,000 shares of the scientific and technical instruments company’s stock worth $34,000 after acquiring an additional 456,000 shares during the last quarter. Versant Capital Management Inc increased its stake in II-VI by 122.0% in the 3rd quarter. Versant Capital Management Inc now owns 1,230 shares of the scientific and technical instruments company’s stock worth $43,000 after acquiring an additional 676 shares during the last quarter. Finally, Emerald Advisers LLC bought a new stake in II-VI in the 4th quarter worth approximately $47,000. 93.40% of the stock is currently owned by institutional investors.
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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