Insider Selling: Carl J. Johnson Unloads 7,000 Shares of II-VI 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 Thursday, June 12th. The shares were sold at an average price of $14.08, for a total transaction of $98,560.00. Following the completion of the sale, the director now directly owns 388,533 shares in the company, valued at approximately $5,470,545. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.
Shares of II-VI (NASDAQ:IIVI) traded up 2.78% on Friday, hitting $14.44. The stock had a trading volume of 224,659 shares. II-VI has a 52-week low of $12.63 and a 52-week high of $20.80. The stock has a 50-day moving average of $13.91 and a 200-day moving average of $15.46. The company has a market cap of $894.4 million and a price-to-earnings ratio of 25.00.
II-VI (NASDAQ:IIVI) last issued its quarterly earnings data on Thursday, May 1st. The company reported $0.20 earnings per share (EPS) for the quarter, beating the 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 previous year, the company posted $0.26 earnings per share. The company’s revenue for the quarter 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.
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, May 19th. 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 analysts have rated the stock with a hold rating and one has given a buy rating to the stock. The company presently has a consensus rating of “Hold” and an average price target of $16.14.
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.
Get Analysts' Upgrades and Downgrades via Email - Stay on top of analysts' coverage with Analyst Ratings Network's FREE daily email newsletter that provides a concise list of analysts' upgrades and downgrades. Click here to register now.