II-VI Inc. (NASDAQ:IIVI) Director Howard H. Xia sold 4,000 shares of the company’s stock in a transaction on Tuesday, November 22nd. The shares were sold at an average price of $30.67, for a total transaction of $122,680.00. Following the sale, the director now directly owns 28,996 shares in the company, valued at approximately $889,307.32. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.
Shares of II-VI Inc. (NASDAQ:IIVI) opened at 31.25 on Friday. The stock has a 50 day moving average of $27.39 and a 200 day moving average of $22.42. II-VI Inc. has a 52 week low of $16.09 and a 52 week high of $31.45. The stock has a market cap of $1.95 billion, a P/E ratio of 30.34 and a beta of 0.27.
II-VI (NASDAQ:IIVI) last released its quarterly earnings results on Tuesday, October 25th. The company reported $0.35 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.23 by $0.12. II-VI had a net margin of 7.51% and a return on equity of 11.37%. The firm had revenue of $244.30 million for the quarter, compared to analysts’ expectations of $220.04 million. During the same quarter last year, the company earned $0.27 EPS. The firm’s revenue for the quarter was up 17.1% compared to the same quarter last year. On average, analysts expect that II-VI Inc. will post $1.13 earnings per share for the current year.
Large investors have recently added to or reduced their stakes in the stock. Fort Pitt Capital Group LLC boosted its stake in II-VI by 65.8% in the second quarter. Fort Pitt Capital Group LLC now owns 834,508 shares of the company’s stock worth $15,655,000 after buying an additional 331,250 shares in the last quarter. Goldman Sachs Group Inc. boosted its stake in II-VI by 260.6% in the first quarter. Goldman Sachs Group Inc. now owns 176,831 shares of the company’s stock worth $3,839,000 after buying an additional 127,795 shares in the last quarter. Emerald Acquisition Ltd. bought a new stake in II-VI during the second quarter worth about $439,000. A.R.T. Advisors LLC boosted its stake in II-VI by 54.2% in the first quarter. A.R.T. Advisors LLC now owns 60,301 shares of the company’s stock worth $1,309,000 after buying an additional 21,200 shares in the last quarter. Finally, Systematic Financial Management LP boosted its stake in II-VI by 18.1% in the second quarter. Systematic Financial Management LP now owns 230,020 shares of the company’s stock worth $4,315,000 after buying an additional 35,258 shares in the last quarter. 72.28% of the stock is currently owned by hedge funds and other institutional investors.
A number of equities research analysts recently issued reports on the stock. Zacks Investment Research raised shares of II-VI from a “hold” rating to a “strong-buy” rating and set a $32.00 price target on the stock in a research note on Thursday, October 27th. Benchmark Co. upped their price target on shares of II-VI from $23.50 to $30.00 and gave the company a “buy” rating in a research note on Tuesday, October 25th. B. Riley reaffirmed a “buy” rating and set a $33.50 price target on shares of II-VI in a research note on Monday, October 31st. Finally, Needham & Company LLC increased their target price on shares of II-VI from $26.00 to $29.00 and gave the company a “buy” rating in a research note on Monday, October 24th. Four equities research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. II-VI currently has a consensus rating of “Buy” and a consensus target price of $31.13.