II-VI Sees Unusually Large Options Volume (NASDAQ:IIVI)

II-VI, Inc. (NASDAQ:IIVI) saw unusually large options trading activity on Tuesday. Stock traders bought 2,748 call options on the stock. This represents an increase of approximately 130% compared to the average daily volume of 1,194 call options.

In other news, Director Francis J. Kramer sold 20,000 shares of II-VI stock in a transaction dated Tuesday, April 28th. The shares were sold at an average price of $33.05, for a total transaction of $661,000.00. Following the completion of the sale, the director now directly owns 183,892 shares in the company, valued at $6,077,630.60. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Francis J. Kramer sold 14,500 shares of II-VI stock in a transaction dated Thursday, June 18th. The stock was sold at an average price of $50.04, for a total transaction of $725,580.00. The disclosure for this sale can be found here. Insiders sold a total of 99,949 shares of company stock valued at $4,223,658 in the last 90 days. Company insiders own 4.20% of the company’s stock.

Several institutional investors have recently bought and sold shares of the company. State Street Corp increased its holdings in II-VI by 3.4% in the 1st quarter. State Street Corp now owns 2,815,198 shares of the scientific and technical instruments company’s stock worth $80,233,000 after purchasing an additional 92,889 shares in the last quarter. New Mexico Educational Retirement Board increased its holdings in II-VI by 40.5% in the 1st quarter. New Mexico Educational Retirement Board now owns 20,800 shares of the scientific and technical instruments company’s stock worth $593,000 after purchasing an additional 6,000 shares in the last quarter. The Manufacturers Life Insurance Company increased its holdings in II-VI by 3.5% in the 1st quarter. The Manufacturers Life Insurance Company now owns 179,665 shares of the scientific and technical instruments company’s stock worth $5,120,000 after purchasing an additional 6,125 shares in the last quarter. FDx Advisors Inc. acquired a new stake in shares of II-VI in the first quarter valued at about $34,000. Finally, Twinbeech Capital LP acquired a new stake in shares of II-VI in the first quarter valued at about $575,000. 99.54% of the stock is owned by institutional investors.

IIVI stock traded down $1.61 during midday trading on Tuesday, hitting $46.78. The stock had a trading volume of 93,485 shares, compared to its average volume of 1,304,156. The firm has a market capitalization of $4.42 billion, a price-to-earnings ratio of -49.38 and a beta of 1.28. II-VI has a 52 week low of $19.00 and a 52 week high of $51.90. The stock has a 50-day simple moving average of $46.54 and a 200 day simple moving average of $35.61. The company has a current ratio of 2.80, a quick ratio of 1.69 and a debt-to-equity ratio of 1.14.

II-VI (NASDAQ:IIVI) last issued its earnings results on Monday, May 11th. The scientific and technical instruments company reported $0.47 EPS for the quarter, topping the consensus estimate of $0.14 by $0.33. The firm had revenue of $627.00 million during the quarter, compared to analysts’ expectations of $575.66 million. II-VI had a negative return on equity of 4.91% and a negative net margin of 4.52%. II-VI’s quarterly revenue was up 83.1% compared to the same quarter last year. During the same period last year, the business earned $0.62 earnings per share. On average, equities analysts forecast that II-VI will post -1.27 EPS for the current year.

A number of brokerages have recently commented on IIVI. Needham & Company LLC lifted their price target on shares of II-VI from $52.00 to $57.00 and gave the stock a “buy” rating in a report on Tuesday, June 9th. Piper Sandler raised their target price on shares of II-VI from $40.00 to $54.00 and gave the stock an “overweight” rating in a research report on Tuesday, May 12th. Northland Securities reissued a “buy” rating and issued a $43.50 target price on shares of II-VI in a research report on Tuesday, May 12th. Craig Hallum raised their target price on shares of II-VI from $35.00 to $55.00 and gave the stock a “buy” rating in a research report on Tuesday, May 12th. Finally, JPMorgan Chase & Co. raised their target price on shares of II-VI from $45.00 to $53.00 and gave the stock an “overweight” rating in a research report on Tuesday, May 12th. Five research analysts have rated the stock with a hold rating, twelve have issued a buy rating and two have given a strong buy rating to the company. The stock has an average rating of “Buy” and a consensus target price of $47.91.

II-VI Company Profile

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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