II-VI (IIVI) Receives New Coverage from Analysts at Piper Jaffray Companies

Equities researchers at Piper Jaffray Companies initiated coverage on shares of II-VI (NASDAQ:IIVI) in a research note issued to investors on Tuesday, The Fly reports. The firm set an “overweight” rating on the scientific and technical instruments company’s stock.

A number of other brokerages have also issued reports on IIVI. Northland Securities lowered shares of II-VI from an “outperform” rating to a “market perform” rating in a research report on Monday, January 22nd. BidaskClub upgraded shares of II-VI from a “hold” rating to a “buy” rating in a research report on Wednesday, January 10th. upped their target price on shares of II-VI from $50.00 to $56.00 and gave the stock a “buy” rating in a research report on Wednesday, November 15th. Needham & Company LLC upped their target price on shares of II-VI from $50.00 to $56.00 and gave the stock a “buy” rating in a research report on Monday, November 13th. Finally, ValuEngine lowered shares of II-VI from a “buy” rating to a “hold” rating in a research report on Friday, December 1st. One research analyst has rated the stock with a sell rating, four have issued a hold rating and six have issued a buy rating to the company. II-VI has an average rating of “Hold” and a consensus target price of $52.44.

Shares of II-VI (IIVI) traded down $0.60 during mid-day trading on Tuesday, hitting $37.50. 1,024,600 shares of the stock were exchanged, compared to its average volume of 966,099. II-VI has a 12 month low of $27.25 and a 12 month high of $53.08. The firm has a market capitalization of $2,340.00 and a price-to-earnings ratio of 28.41. The company has a debt-to-equity ratio of 0.48, a current ratio of 4.01 and a quick ratio of 2.71.

II-VI (NASDAQ:IIVI) last announced its earnings results on Thursday, February 1st. The scientific and technical instruments company reported $0.39 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.37 by $0.02. II-VI had a net margin of 8.08% and a return on equity of 11.10%. The company had revenue of $281.50 million for the quarter, compared to analyst estimates of $277.16 million. During the same period in the prior year, the business earned $0.49 earnings per share. II-VI’s quarterly revenue was up 21.4% on a year-over-year basis. equities research analysts anticipate that II-VI will post 1.55 earnings per share for the current year.

In related news, VP David G. Wagner sold 6,577 shares of the business’s 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Howard H. Xia sold 4,135 shares of the business’s stock in a transaction that occurred on Wednesday, November 22nd. The stock was sold at an average price of $51.58, for a total transaction of $213,283.30. The disclosure for this sale can be found here. Insiders own 3.80% of the company’s stock.

Several institutional investors and hedge funds have recently bought and sold shares of IIVI. Nationwide Fund Advisors raised its stake in shares of II-VI by 0.8% during the second quarter. Nationwide Fund Advisors now owns 41,893 shares of the scientific and technical instruments company’s stock worth $1,437,000 after buying an additional 339 shares during the last quarter. Piedmont Investment Advisors LLC bought a new stake in shares of II-VI during the second quarter worth approximately $407,000. Bridge City Capital LLC raised its stake in shares of II-VI by 8.7% during the third quarter. Bridge City Capital LLC now owns 41,025 shares of the scientific and technical instruments company’s stock worth $1,688,000 after buying an additional 3,280 shares during the last quarter. Kornitzer Capital Management Inc. KS raised its stake 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 worth $5,657,000 after buying an additional 62,335 shares during the last quarter. Finally, Rhumbline Advisers raised its stake 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 worth $5,514,000 after buying an additional 2,855 shares during the last quarter. 81.26% of the stock is owned by institutional investors and hedge funds.

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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.

The Fly

Analyst Recommendations for II-VI (NASDAQ:IIVI)

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