II-VI Director Sells $98,700 in Stock (IIVI)
II-VI (NASDAQ:IIVI) Director Carl J. Johnson unloaded 7,000 shares of the company’s stock in a transaction that occurred on Monday, August 18th. The shares were sold at an average price of $14.10, for a total transaction of $98,700.00. Following 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 legal filing with the SEC, which is available at this link.
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 analyst has rated the stock with a sell rating, two have issued a hold rating and one has given a buy rating to the stock. The company presently has an average rating of “Hold” and a consensus price target of $15.96.
II-VI (NASDAQ:IIVI) traded up 0.40% during mid-day trading on Thursday, hitting $14.216. 32,901 shares of the company’s stock traded hands. 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 $13.98 and a 200-day moving average of $14.60. The company has a market cap of $877.0 million and a price-to-earnings ratio of 23.52.
II-VI (NASDAQ:IIVI) last announced its earnings results on Tuesday, August 5th. The company reported $0.20 earnings per share for the quarter, beating the analysts’ 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 in the prior year, the company posted $0.16 earnings per share. The company’s quarterly revenue was up 21.9% on a year-over-year basis. Analysts expect that II-VI will post $0.80 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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