Eaton Vance Management grew its position in II-VI, Inc. (NASDAQ:IIVI) by 99.7% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 90,154 shares of the scientific and technical instruments company’s stock after acquiring an additional 45,000 shares during the quarter. Eaton Vance Management owned about 0.14% of II-VI worth $4,264,000 at the end of the most recent reporting period.
Other hedge funds have also recently bought and sold shares of the company. Tower Research Capital LLC TRC acquired a new stake in shares of II-VI in the second quarter valued at approximately $128,000. Stone Ridge Asset Management LLC acquired a new stake in shares of II-VI during the third quarter worth $212,000. Jaffetilchin Investment Partners LLC acquired a new stake in shares of II-VI during the third quarter worth $238,000. Janney Montgomery Scott LLC acquired a new stake in shares of II-VI during the third quarter worth $258,000. Finally, Janus Henderson Group PLC acquired a new stake in shares of II-VI during the second quarter worth $244,000. 89.60% of the stock is owned by institutional investors and hedge funds.
Several equities research analysts recently weighed in on the company. BidaskClub raised II-VI from a “sell” rating to a “hold” rating in a report on Thursday, August 23rd. Needham & Company LLC decreased their price target on II-VI from $55.00 to $48.00 and set a “buy” rating for the company in a report on Monday, November 12th. Craig Hallum set a $47.00 price target on II-VI and gave the stock a “buy” rating in a report on Monday, November 12th. B. Riley downgraded II-VI from a “buy” rating to a “neutral” rating and set a $54.00 price target for the company. in a report on Tuesday, September 4th. Finally, ValuEngine downgraded II-VI from a “buy” rating to a “hold” rating in a report on Tuesday, October 2nd. Two analysts have rated the stock with a sell rating, five have given a hold rating and seven have given a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average target price of $50.92.
NASDAQ:IIVI opened at $34.29 on Friday. The firm has a market capitalization of $2.28 billion, a price-to-earnings ratio of 19.94, a price-to-earnings-growth ratio of 1.17 and a beta of 0.68. The company has a debt-to-equity ratio of 0.50, a current ratio of 3.63 and a quick ratio of 2.45. II-VI, Inc. has a 1 year low of $31.92 and a 1 year high of $53.08.
II-VI (NASDAQ:IIVI) last released its quarterly earnings data on Thursday, November 1st. The scientific and technical instruments company reported $0.56 earnings per share (EPS) for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.56. The firm had revenue of $314.40 million during the quarter, compared to analysts’ expectations of $310.92 million. II-VI had a return on equity of 10.89% and a net margin of 7.68%. II-VI’s revenue was up 20.2% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.32 earnings per share. As a group, sell-side analysts anticipate that II-VI, Inc. will post 1.8 EPS for the current year.
In other II-VI news, VP David G. Wagner sold 4,833 shares of the stock in a transaction on Tuesday, September 25th. The stock was sold at an average price of $49.00, for a total value of $236,817.00. Following the completion of the transaction, the vice president now owns 65,211 shares in the company, valued at $3,195,339. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 4.00% of the company’s stock.
II-VI Incorporated develops, manufactures, and markets engineered materials, and optoelectronic components and devices worldwide. The company operates in three segments: II-VI Laser Solutions, II-VI Photonics, and II-VI Performance Products. The II-VI Laser Solutions segment offers optical and electro-optical components and materials primarily used in high-power CO2 lasers; fiber-delivered beam delivery systems, and processing tools and direct diode lasers for industrial lasers; direct diode laser modules, sub-systems, and systems; super-hard materials processing laser systems; and compound semiconductor epitaxial and gallium arsenide wafers.
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