II-VI Incorporated (NASDAQ:IIVI) had its price target increased by equities researchers at Benchmark Co. from $40.00 to $44.00 in a research note issued to investors on Tuesday, The Fly reports. The firm currently has a “buy” rating on the scientific and technical instruments company’s stock. Benchmark Co.’s price target would indicate a potential upside of 15.33% from the company’s previous close.

A number of other analysts also recently weighed in on IIVI. Northland Securities set a $45.00 price target on shares of II-VI and gave the company a “buy” rating in a research report on Monday. B. Riley reiterated a “neutral” rating and issued a $39.50 price target on shares of II-VI in a research report on Saturday. BidaskClub downgraded shares of II-VI from a “buy” rating to a “hold” rating in a research report on Monday, July 31st. Craig Hallum started coverage on shares of II-VI in a research report on Monday, July 24th. They issued a “buy” rating and a $50.00 price target on the stock. Finally, Needham & Company LLC increased their price target on shares of II-VI from $38.00 to $40.00 and gave the company a “buy” rating in a research report on Wednesday, June 21st. Three investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and an average price target of $43.42.

Shares of II-VI (IIVI) opened at 38.15 on Tuesday. The company has a 50 day moving average of $35.92 and a 200-day moving average of $34.63. The company has a market capitalization of $2.41 billion, a P/E ratio of 31.77 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 issued its earnings results on Monday, August 7th. The scientific and technical instruments company reported $0.50 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.33 by $0.17. The company had revenue of $273.70 million for the quarter, compared to analyst estimates of $249.90 million. II-VI had a net margin of 8.19% and a return on equity of 12.49%. The company’s revenue for the quarter was up 13.4% on a year-over-year basis. During the same quarter last year, the firm earned $0.40 EPS. On average, equities analysts anticipate that II-VI will post $1.60 EPS for the current fiscal year.

WARNING: This article was published by American Banking News and is the property of of American Banking News. If you are accessing this article on another domain, it was illegally stolen and republished in violation of United States & international copyright legislation. The original version of this article can be read at https://www.americanbankingnews.com/2017/08/08/ii-vi-incorporated-nasdaqiivi-pt-raised-to-44-00-at-benchmark-co.html.

In other II-VI news, 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 transaction of $159,984.00. Following the sale, the vice president now directly owns 45,284 shares in the company, valued at approximately $1,630,224. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Francis J. Kramer sold 20,000 shares of the firm’s stock in a transaction that occurred on Monday, July 24th. The stock was sold at an average price of $40.00, for a total transaction of $800,000.00. The disclosure for this sale can be found here. Company insiders own 6.80% of the company’s stock.

A number of hedge funds have recently made changes to their positions in IIVI. Quadrature Capital Ltd bought a new stake in shares of II-VI during the fourth quarter valued at approximately $233,000. Legato Capital Management LLC increased its stake in shares of II-VI by 3,505.0% in the first quarter. Legato Capital Management LLC now owns 68,279 shares of the scientific and technical instruments company’s stock valued at $1,894,000 after buying an additional 66,385 shares during the period. ClariVest Asset Management LLC increased its stake in shares of II-VI by 14.6% in the first quarter. ClariVest Asset Management LLC now owns 236,915 shares of the scientific and technical instruments company’s stock valued at $8,540,000 after buying an additional 30,100 shares during the period. Macquarie Group Ltd. bought a new stake in shares of II-VI during the fourth quarter valued at approximately $8,923,000. Finally, Schwab Charles Investment Management Inc. increased its stake in shares of II-VI by 6.4% in the first quarter. Schwab Charles Investment Management Inc. now owns 313,756 shares of the scientific and technical instruments company’s stock valued at $11,311,000 after buying an additional 18,919 shares during the period. Hedge funds and other institutional investors own 78.41% of the company’s stock.

About II-VI

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.

The Fly

Analyst Recommendations for II-VI (NASDAQ:IIVI)

Receive News & Ratings for II-VI Incorporated Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for II-VI Incorporated and related companies with MarketBeat.com's FREE daily email newsletter.