Insider Selling: Carl J. Johnson Sells 7,000 Shares of II-VI Stock (IIVI)
II-VI (NASDAQ:IIVI) Director Carl J. Johnson sold 7,000 shares of II-VI stock on the open market in a transaction that occurred on Monday, August 18th. The stock was sold at an average price of $14.10, for a total value of $98,700.00. Following the completion of the transaction, the director now directly owns 374,253 shares of the company’s stock, valued at approximately $5,276,967. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.
Shares of II-VI (NASDAQ:IIVI) traded up 1.34% during mid-day trading on Tuesday, hitting $14.35. The stock had a trading volume of 154,442 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 $14. and a 200-day moving average of $14.61. The company has a market cap of $885.3 million and a P/E ratio of 23.52.
II-VI (NASDAQ:IIVI) last posted its quarterly earnings results on Tuesday, August 5th. The company reported $0.20 EPS for the quarter, beating the Thomson Reuters consensus estimate of $0.19 by $0.01. The company had revenue of $187.90 million for the quarter, compared to the consensus estimate of $183.90 million. During the same quarter last year, the company posted $0.16 earnings per share. II-VI’s revenue was up 21.9% compared to the same quarter last year. On average, analysts predict that II-VI will post $0.80 earnings per share for the current fiscal year.
Separately, analysts at Zacks downgraded shares of II-VI from a “neutral” rating to an “underperform” rating in a research note on Thursday, August 7th. They now have a $13.10 price target on the stock. One research analyst has rated the stock with a sell rating, two have given a hold rating and one has issued a buy rating to the company. The stock currently has an average rating of “Hold” and an average price target of $15.96.
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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