Insider Selling: II-VI Incorporated (IIVI) VP Sells 4,444 Shares of Stock
II-VI Incorporated (NASDAQ:IIVI) VP David G. Wagner sold 4,444 shares of the firm’s stock in a transaction that occurred on Monday, July 10th. The shares were sold at an average price of $36.00, for a total value of $159,984.00. Following the completion of the transaction, the vice president now owns 45,284 shares in the company, valued at approximately $1,630,224. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.
Shares of II-VI Incorporated (NASDAQ IIVI) traded up 1.53% during mid-day trading on Tuesday, hitting $36.45. The company had a trading volume of 336,988 shares. II-VI Incorporated has a 52 week low of $18.52 and a 52 week high of $41.10. The firm has a market capitalization of $2.30 billion, a PE ratio of 30.35 and a beta of 0.05. The firm has a 50-day moving average price of $32.52 and a 200-day moving average price of $33.48.
II-VI (NASDAQ:IIVI) last released its quarterly earnings data on Tuesday, May 2nd. The scientific and technical instruments company reported $0.35 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.32 by $0.03. The business had revenue of $245 million for the quarter, compared to analysts’ expectations of $240.55 million. II-VI had a return on equity of 12.49% and a net margin of 8.19%. The firm’s quarterly revenue was up 19.5% on a year-over-year basis. During the same period in the prior year, the firm posted $0.35 EPS. Equities analysts forecast that II-VI Incorporated will post $1.33 earnings per share for the current year.
A number of research firms have recently weighed in on IIVI. Northland Securities began coverage on II-VI in a report on Thursday, July 6th. They issued an “outperform” rating and a $45.00 target price on the stock. Benchmark Co. restated a “buy” rating and issued a $40.00 target price on shares of II-VI in a report on Tuesday, July 4th. Needham & Company LLC raised their target price on II-VI from $38.00 to $40.00 and gave the company a “buy” rating in a report on Wednesday, June 21st. BidaskClub upgraded II-VI from a “sell” rating to a “hold” rating in a report on Thursday, June 15th. Finally, ValuEngine upgraded II-VI from a “hold” rating to a “buy” rating in a report on Thursday, June 1st. Two research analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. II-VI presently has an average rating of “Buy” and an average price target of $40.55.
A number of institutional investors have recently added to or reduced their stakes in IIVI. Zurcher Kantonalbank Zurich Cantonalbank boosted its position in II-VI by 91.7% in the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,764 shares of the scientific and technical instruments company’s stock valued at $100,000 after buying an additional 1,322 shares during the period. Meadow Creek Investment Management LLC boosted its position in II-VI by 1.9% in the first quarter. Meadow Creek Investment Management LLC now owns 2,996 shares of the scientific and technical instruments company’s stock valued at $108,000 after buying an additional 56 shares during the period. Glen Harbor Capital Management LLC boosted its position in II-VI by 1.9% in the first quarter. Glen Harbor Capital Management LLC now owns 3,638 shares of the scientific and technical instruments company’s stock valued at $131,000 after buying an additional 68 shares during the period. Mutual of America Capital Management LLC acquired a new position in II-VI during the first quarter valued at about $180,000. Finally, LS Investment Advisors LLC boosted its position in II-VI by 158.9% in the first quarter. LS Investment Advisors LLC now owns 5,061 shares of the scientific and technical instruments company’s stock valued at $182,000 after buying an additional 3,106 shares during the period. 78.37% of the stock is currently owned by institutional investors and hedge funds.
II-VI Company Profile
II-VI Incorporated develops and manufactures engineered materials, optoelectronic components and products. The Company has three segments: II-VI Laser Solutions, II-VI Photonics and II-VI Performance Products. The II-VI Laser Solutions segment designs, manufactures and markets optical and electro-optical components and materials sold under the II-VI Infrared brand name and used in carbon dioxide (CO2) lasers, fiber-delivered beam delivery systems and processing tools and direct diode lasers for industrial lasers sold under the II-VI HIGHYAG and II-VI Laser Enterprise brand names.
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