Insider Selling: II-VI Director Sells 7,000 Shares of Stock (IIVI)
II-VI (NASDAQ:IIVI) Director Carl J. Johnson sold 7,000 shares of the stock on the open market in a transaction that occurred on Monday, May 19th. The shares were sold at an average price of $13.47, for a total value of $94,290.00. Following the completion of the sale, the director now directly owns 398,533 shares of the company’s stock, valued at approximately $5,368,240. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.
A number of research firms have recently commented on IIVI. Analysts at Zacks upgraded shares of II-VI from an “underperform” rating to a “neutral” rating in a research note on Monday. They now have a $13.80 price target on the stock. Separately, analysts at Needham & Company LLC cut their price target on shares of II-VI from $19.00 to $18.00 in a research note on Tuesday, March 18th. They now have a “buy” rating on the stock. Finally, analysts at B. Riley cut their price target on shares of II-VI from $18.00 to $15.75 in a research note on Tuesday, March 18th. They now have a “neutral” rating on the stock. Three equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. II-VI presently has an average rating of “Hold” and an average target price of $16.14.
II-VI (NASDAQ:IIVI) traded down 2.47% on Tuesday, hitting $13.05. The stock had a trading volume of 690,665 shares. II-VI has a 52 week low of $13.23 and a 52 week high of $20.80. The stock has a 50-day moving average of $14.48 and a 200-day moving average of $15.73. The company has a market cap of $808.3 million and a P/E ratio of 23.81.
II-VI (NASDAQ:IIVI) last posted its quarterly earnings results on Thursday, May 1st. The company reported $0.20 EPS for the quarter, beating the Thomson Reuters consensus estimate of $0.15 by $0.05. The company had revenue of $173.56 million for the quarter, compared to the consensus estimate of $167.10 million. During the same quarter in the prior year, the company posted $0.26 earnings per share. The company’s quarterly revenue was up 20.6% on a year-over-year basis. On average, analysts predict that II-VI will post $0.72 earnings per share for the current fiscal year.
II-VI Incorporated (NASDAQ:IIVI) develops, refines, manufactures and markets high-technology materials and derivative precision components and products for precision use in industrial, military, telecommunications, photovoltaic, medical and aerospace applications.
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