II-VI Incorporated (NASDAQ:IIVI) received a $45.00 price objective from stock analysts at Northland Securities in a research report issued to clients and investors on Monday. The firm presently has a “buy” rating on the scientific and technical instruments company’s stock. Northland Securities’ target price indicates a potential upside of 27.30% from the company’s current price.

Several other research firms have also recently commented on IIVI. B. Riley cut shares of II-VI from a “buy” rating to a “neutral” rating and raised their price target for the stock from $35.75 to $39.50 in a report on Wednesday, July 26th. Craig Hallum began coverage on shares of II-VI in a report on Monday, July 24th. They set a “buy” rating and a $50.00 price target for the company. BidaskClub cut shares of II-VI from a “buy” rating to a “hold” rating in a report on Monday, July 31st. Benchmark Co. restated a “buy” rating on shares of II-VI in a report on Sunday, June 25th. Finally, Needham & Company LLC raised their price target on shares of II-VI from $38.00 to $40.00 and gave the stock a “buy” rating in a report on Wednesday, June 21st. Three investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company. The stock has a consensus rating of “Buy” and a consensus price target of $42.75.

Shares of II-VI (NASDAQ IIVI) traded up 7.36% during trading on Monday, reaching $37.95. 893,293 shares of the company traded hands. The firm has a 50-day moving average price of $35.92 and a 200-day moving average price of $34.63. The firm has a market capitalization of $2.40 billion, a PE ratio of 31.60 and a beta of 0.07. II-VI has a 12 month low of $20.29 and a 12 month high of $41.10.

II-VI (NASDAQ:IIVI) last announced its earnings results on Monday, August 7th. The scientific and technical instruments company reported $0.50 EPS for the quarter, topping the consensus estimate of $0.33 by $0.17. II-VI had a net margin of 8.19% and a return on equity of 12.49%. The company had revenue of $273.70 million during the quarter, compared to analysts’ expectations of $249.90 million. During the same period last year, the company posted $0.40 earnings per share. The business’s revenue for the quarter was up 13.4% on a year-over-year basis. Equities research analysts anticipate that II-VI will post $1.32 EPS for the current year.

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In other II-VI news, Director Francis J. Kramer sold 20,000 shares of II-VI stock in a transaction that occurred on Monday, July 24th. The shares were sold at an average price of $40.00, for a total value of $800,000.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP David G. Wagner sold 4,444 shares of II-VI stock in a transaction that occurred on Monday, July 10th. The shares were sold at an average price of $36.00, for a total transaction of $159,984.00. Following the completion of the sale, the vice president now owns 45,284 shares of the company’s stock, valued at $1,630,224. The disclosure for this sale can be found here. 6.80% of the stock is owned by insiders.

Several institutional investors have recently added to or reduced their stakes in the stock. Zurcher Kantonalbank Zurich Cantonalbank raised 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 worth $100,000 after buying an additional 1,322 shares in the last quarter. Meadow Creek Investment Management LLC raised 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 worth $108,000 after buying an additional 56 shares in the last quarter. Glen Harbor Capital Management LLC raised 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 worth $131,000 after buying an additional 68 shares in the last quarter. Mutual of America Capital Management LLC purchased a new position in II-VI during the first quarter worth approximately $180,000. Finally, LS Investment Advisors LLC raised 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 worth $182,000 after buying an additional 3,106 shares in the last quarter. 78.41% of the stock is currently owned by institutional investors.

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.

Analyst Recommendations for II-VI (NASDAQ:IIVI)

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