Raymond James & Associates grew its position in II-VI, Inc. (NASDAQ:IIVI) by 58.0% during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 8,478 shares of the scientific and technical instruments company’s stock after buying an additional 3,111 shares during the period. Raymond James & Associates’ holdings in II-VI were worth $275,000 at the end of the most recent quarter.
Other large investors have also recently added to or reduced their stakes in the company. Winslow Evans & Crocker Inc. acquired a new stake in II-VI in the 4th quarter worth approximately $34,000. Doyle Wealth Management acquired a new stake in II-VI in the 4th quarter worth approximately $49,000. FNY Investment Advisers LLC acquired a new stake in II-VI in the 4th quarter worth approximately $116,000. Advisors Asset Management Inc. acquired a new stake in II-VI in the 4th quarter worth approximately $130,000. Finally, Bank of Montreal Can boosted its stake in II-VI by 12.8% in the 4th quarter. Bank of Montreal Can now owns 4,043 shares of the scientific and technical instruments company’s stock worth $131,000 after purchasing an additional 459 shares in the last quarter. Institutional investors and hedge funds own 91.85% of the company’s stock.
A number of equities analysts have issued reports on IIVI shares. Morgan Stanley set a $44.00 price target on shares of II-VI and gave the stock a “hold” rating in a research report on Saturday, February 2nd. BidaskClub raised shares of II-VI from a “sell” rating to a “hold” rating in a research report on Wednesday, February 20th. Northland Securities raised shares of II-VI from a “market perform” rating to an “outperform” rating and set a $40.00 price target for the company in a research report on Monday, December 31st. They noted that the move was a valuation call. Zacks Investment Research lowered shares of II-VI from a “buy” rating to a “hold” rating in a research report on Friday, February 1st. Finally, ValuEngine raised shares of II-VI from a “hold” rating to a “buy” rating in a research report on Monday, February 25th. Two analysts have rated the stock with a sell rating, four have issued a hold rating and eight have given a buy rating to the company’s stock. II-VI currently has an average rating of “Hold” and a consensus target price of $49.09.
NASDAQ:IIVI opened at $41.05 on Monday. The company has a quick ratio of 2.00, a current ratio of 3.17 and a debt-to-equity ratio of 0.43. The company has a market cap of $2.60 billion, a PE ratio of 23.87, a PEG ratio of 1.36 and a beta of 0.83. II-VI, Inc. has a 1-year low of $29.31 and a 1-year high of $50.75.
II-VI (NASDAQ:IIVI) last posted its earnings results on Thursday, January 31st. The scientific and technical instruments company reported $0.71 earnings per share for the quarter, beating the consensus estimate of $0.67 by $0.04. II-VI had a net margin of 8.81% and a return on equity of 10.93%. Analysts expect that II-VI, Inc. will post 1.72 earnings per share for the current fiscal year.
In other news, insider Vincent D. Mattera, Jr. sold 1,973 shares of II-VI stock in a transaction that occurred on Monday, April 8th. The shares were sold at an average price of $40.00, for a total transaction of $78,920.00. Following the completion of the transaction, the insider now directly owns 260,138 shares of the company’s stock, valued at approximately $10,405,520. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, VP David G. Wagner sold 13,200 shares of II-VI stock in a transaction that occurred on Friday, March 1st. The shares were sold at an average price of $42.14, for a total transaction of $556,248.00. Following the transaction, the vice president now directly owns 68,317 shares of the company’s stock, valued at $2,878,878.38. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 73,317 shares of company stock valued at $2,933,425. Insiders own 4.00% of the company’s stock.
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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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