First Trust Advisors LP raised its holdings in shares of II-VI, Inc. (NASDAQ:IIVI) by 22.7% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 69,499 shares of the scientific and technical instruments company’s stock after purchasing an additional 12,863 shares during the period. First Trust Advisors LP owned about 0.11% of II-VI worth $3,263,000 as of its most recent SEC filing.
Other hedge funds have also added to or reduced their stakes in the company. US Bancorp DE grew its position in shares of II-VI by 43.3% during the fourth quarter. US Bancorp DE now owns 4,891 shares of the scientific and technical instruments company’s stock worth $229,000 after acquiring an additional 1,477 shares during the last quarter. Granite Point Capital Management L.P. bought a new position in shares of II-VI during the fourth quarter worth about $282,000. Affinity Investment Advisors LLC bought a new position in shares of II-VI during the fourth quarter worth about $302,000. SG Americas Securities LLC grew its position in shares of II-VI by 73.0% during the fourth quarter. SG Americas Securities LLC now owns 12,642 shares of the scientific and technical instruments company’s stock worth $594,000 after acquiring an additional 5,333 shares during the last quarter. Finally, Teacher Retirement System of Texas bought a new position in shares of II-VI during the fourth quarter worth about $917,000. Hedge funds and other institutional investors own 89.26% of the company’s stock.
Shares of II-VI, Inc. (NASDAQ:IIVI) opened at $41.75 on Wednesday. The firm has a market cap of $2,605.69, a PE ratio of 26.73, a P/E/G ratio of 1.23 and a beta of 0.12. II-VI, Inc. has a 1-year low of $27.25 and a 1-year high of $53.08. The company has a debt-to-equity ratio of 0.48, a current ratio of 4.01 and a quick ratio of 2.71.
Several equities analysts have recently commented on IIVI shares. 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 raised shares of II-VI from a “sell” rating to a “hold” rating in a report on Tuesday, December 12th. upped their price objective on shares of II-VI from $50.00 to $56.00 and gave the stock a “buy” rating in a report on Wednesday, November 15th. Loop Capital initiated coverage on shares of II-VI in a report on Monday, January 29th. They issued a “buy” rating and a $70.00 price objective for the company. Finally, Piper Jaffray Companies initiated coverage on shares of II-VI in a report on Tuesday, February 13th. They issued an “overweight” rating and a $50.00 price objective for the company. One research analyst has rated the stock with a sell rating, four have given a hold rating and seven have given a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and an average price target of $51.55.
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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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