II-VI (NASDAQ:IIVI) was downgraded by equities researchers at BidaskClub from a “buy” rating to a “hold” rating in a research report issued to clients and investors on Saturday.

A number of other analysts have also weighed in on IIVI. B. Riley reaffirmed a “neutral” rating and issued a $39.50 price target on shares of II-VI in a research note on Saturday, August 5th. Northland Securities set a $45.00 price target on shares of II-VI and gave the stock a “buy” rating in a research note on Monday, August 7th. Benchmark upped their price target on shares of II-VI from $40.00 to $44.00 and gave the stock a “buy” rating in a research note on Tuesday, August 8th. Needham & Company LLC reaffirmed a “buy” rating and issued a $45.00 price target (up from $40.00) on shares of II-VI in a research note on Wednesday, August 9th. Finally, Zacks Investment Research raised shares of II-VI from a “hold” rating to a “strong-buy” rating and set a $46.00 price target for the company in a research note on Wednesday, September 27th. Four equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. The company currently has a consensus rating of “Buy” and a consensus price target of $50.64.

Shares of II-VI (IIVI) traded down $1.75 during trading hours on Friday, hitting $45.65. 840,259 shares of the stock were exchanged, compared to its average volume of 869,572. The firm has a market cap of $2,850.00, a price-to-earnings ratio of 28.55 and a beta of 0.02. II-VI has a 12 month low of $27.25 and a 12 month high of $52.55. The company has a current ratio of 3.89, a quick ratio of 2.63 and a debt-to-equity ratio of 0.43.

II-VI (NASDAQ:IIVI) last issued its quarterly earnings results on Tuesday, October 31st. The scientific and technical instruments company reported $0.32 earnings per share for the quarter, missing analysts’ consensus estimates of $0.36 by ($0.04). The company had revenue of $261.50 million during the quarter, compared to analyst estimates of $255.20 million. II-VI had a return on equity of 12.25% and a net margin of 9.89%. The company’s revenue was up 18.1% on a year-over-year basis. During the same period in the prior year, the company posted $0.35 earnings per share. equities analysts forecast that II-VI will post 1.55 earnings per share for the current fiscal year.

In related news, Director Francis J. Kramer sold 25,000 shares of the stock in a transaction that occurred on Monday, October 2nd. The shares were sold at an average price of $42.00, for a total transaction of $1,050,000.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, VP David G. Wagner sold 6,577 shares of the stock in a transaction that occurred on Thursday, November 30th. The shares were sold at an average price of $47.63, for a total transaction of $313,262.51. The disclosure for this sale can be found here. Over the last three months, insiders have sold 61,712 shares of company stock valued at $2,749,046. Company insiders own 3.80% of the company’s stock.

A number of hedge funds have recently added to or reduced their stakes in the stock. Assetmark Inc. lifted its stake in II-VI by 157.5% during the third quarter. Assetmark Inc. now owns 137,616 shares of the scientific and technical instruments company’s stock valued at $5,663,000 after purchasing an additional 84,176 shares during the last quarter. Kornitzer Capital Management Inc. KS raised its holdings in shares of II-VI by 83.0% during the third quarter. Kornitzer Capital Management Inc. KS now owns 137,480 shares of the scientific and technical instruments company’s stock valued at $5,657,000 after acquiring an additional 62,335 shares during the period. Rhumbline Advisers raised its holdings in shares of II-VI by 2.2% during the third quarter. Rhumbline Advisers now owns 134,008 shares of the scientific and technical instruments company’s stock valued at $5,514,000 after acquiring an additional 2,855 shares during the period. Argent Capital Management LLC raised its holdings in shares of II-VI by 23.0% during the third quarter. Argent Capital Management LLC now owns 57,710 shares of the scientific and technical instruments company’s stock valued at $2,375,000 after acquiring an additional 10,785 shares during the period. Finally, EAM Investors LLC acquired a new stake in shares of II-VI during the third quarter valued at approximately $2,252,000. 80.56% of the stock is owned by institutional investors and hedge funds.

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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.

Analyst Recommendations for II-VI (NASDAQ:IIVI)

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