Insider Selling: Francis J. Kramer Sells 2,000 Shares of II-VI Stock (IIVI)
II-VI (NASDAQ:IIVI) CEO Francis J. Kramer sold 2,000 shares of the stock in a transaction that occurred on Friday, June 20th. The stock was sold at an average price of $14.27, for a total transaction of $28,540.00. Following the completion of the transaction, the chief executive officer now directly owns 409,362 shares of the company’s stock, valued at approximately $5,841,596. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link.
Separately, 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. Three research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus target price of $16.14.
Shares of II-VI (NASDAQ:IIVI) traded down 1.54% during mid-day trading on Tuesday, hitting $14.05. The stock had a trading volume of 187,500 shares. II-VI has a 52-week low of $12.63 and a 52-week high of $20.80. The stock’s 50-day moving average is $13.85 and its 200-day moving average is $15.36. The company has a market cap of $870.2 million and a P/E ratio of 25.39.
II-VI (NASDAQ:IIVI) last announced its earnings results 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. Analysts expect that II-VI will post $0.72 EPS 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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