Robecosam AG raised its holdings in II-VI, Inc. (NASDAQ:IIVI) by 520.0% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 310,000 shares of the scientific and technical instruments company’s stock after purchasing an additional 260,000 shares during the quarter. Robecosam AG owned 0.50% of II-VI worth $14,741,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other large investors have also made changes to their positions in the company. Stone Ridge Asset Management LLC bought a new position in II-VI in the 4th quarter valued at $210,000. Suntrust Banks Inc. bought a new position in II-VI in the 4th quarter valued at $212,000. US Bancorp DE grew its stake in II-VI by 43.3% in the 4th quarter. US Bancorp DE now owns 4,891 shares of the scientific and technical instruments company’s stock valued at $229,000 after purchasing an additional 1,477 shares during the period. Granite Point Capital Management L.P. bought a new position in II-VI in the 4th quarter valued at $282,000. Finally, Affinity Investment Advisors LLC purchased a new position in shares of II-VI during the 4th quarter valued at $302,000. Hedge funds and other institutional investors own 89.26% of the company’s stock.
A number of research analysts have recently commented on IIVI shares. Craig Hallum dropped their price target on II-VI to $53.00 and set a “buy” rating on the stock in a research report on Friday, February 2nd. Loop Capital started coverage on II-VI in a research report on Monday, January 29th. They set a “buy” rating and a $70.00 price target on the stock. BidaskClub raised II-VI from a “hold” rating to a “buy” rating in a research report on Wednesday, January 10th. upped their price target on II-VI from $50.00 to $56.00 and gave the company a “buy” rating in a research report on Wednesday, November 15th. Finally, Needham & Company LLC upped their price target on II-VI from $50.00 to $56.00 and gave the company a “buy” rating in a research report on Monday, November 13th. One analyst has rated the stock with a sell rating, four have given a hold rating and seven have issued a buy rating to the company. The company presently has a consensus rating of “Buy” and an average target price of $51.55.
II-VI (NASDAQ:IIVI) last issued its quarterly earnings data on Thursday, February 1st. The scientific and technical instruments company reported $0.39 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.37 by $0.02. The business had revenue of $281.50 million for the quarter, compared to analysts’ expectations of $277.16 million. II-VI had a return on equity of 11.10% and a net margin of 8.08%. The firm’s quarterly revenue was up 21.4% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.49 EPS. sell-side analysts forecast that II-VI, Inc. will post 1.53 earnings per share for the current fiscal year.
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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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