Trading Report: The Emerald Advisers Inc. PA invests in II-VI Inc. (IIVI) Shares

The Emerald Advisers Inc. PA invests in II-VI Inc. (IIVI) Shares

Emerald Advisers Inc. PA increased its stake in II-VI Inc. (NASDAQ:IIVI) by 49.0% during the second quarter, Holdings Channel reports. The firm owned 201,010 shares of the company’s stock after buying an additional 66,146 shares during the period. Emerald Advisers Inc. PA’s holdings in II-VI were worth $3,771,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of the company. Strs Ohio raised its stake in II-VI by 8.4% in the second quarter. Strs Ohio now owns 45,200 shares of the company’s stock valued at $847,000 after buying an additional 3,500 shares during the period. Louisiana State Employees Retirement System increased its position in shares of II-VI by 0.9% in the second quarter. Louisiana State Employees Retirement System now owns 23,500 shares of the company’s stock valued at $441,000 after buying an additional 200 shares in the last quarter. Bank of Montreal Can purchased a new position in shares of II-VI during the second quarter valued at $2,185,000. Foundry Partners LLC purchased a new position in shares of II-VI during the second quarter valued at $241,000. Finally, Capstone Asset Management Co. increased its position in shares of II-VI by 14.1% in the second quarter. Capstone Asset Management Co. now owns 23,969 shares of the company’s stock valued at $450,000 after buying an additional 2,960 shares in the last quarter. Hedge funds and other institutional investors own 72.71% of the company’s stock.

II-VI Inc. (NASDAQ:IIVI) traded down 0.54% on Friday, hitting $25.70. 401,107 shares of the company’s stock traded hands. II-VI Inc. has a one year low of $16.09 and a one year high of $25.87. The stock has a 50-day moving average of $22.66 and a 200-day moving average of $20.96. The stock has a market cap of $1.61 billion, a PE ratio of 24.71 and a beta of 0.42.

II-VI (NASDAQ:IIVI) last posted its quarterly earnings data on Tuesday, August 2nd. The company reported $0.40 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.24 by $0.16. II-VI had a net margin of 7.92% and a return on equity of 10.93%. The business earned $241.40 million during the quarter, compared to the consensus estimate of $214.13 million. During the same period in the previous year, the firm posted $0.27 earnings per share. The business’s revenue for the quarter was up 17.8% compared to the same quarter last year. On average, equities analysts forecast that II-VI Inc. will post $1.04 earnings per share for the current fiscal year.

Several research analysts recently weighed in on the stock. Zacks Investment Research raised shares of II-VI from a “sell” rating to a “hold” rating in a report on Wednesday. B. Riley reaffirmed a “neutral” rating and issued a $22.00 target price on shares of II-VI in a report on Tuesday, August 9th. Needham & Company LLC reaffirmed a “buy” rating and issued a $26.00 target price on shares of II-VI in a report on Wednesday, August 3rd. Finally, Benchmark Co. dropped their target price on shares of II-VI from $25.00 to $23.50 and set a “buy” rating for the company in a report on Tuesday, August 2nd. Two research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. II-VI presently has an average rating of “Buy” and a consensus price target of $23.38.

In other news, Director Thomas E. Mistler sold 4,310 shares of II-VI stock in a transaction on Tuesday, August 23rd. The shares were sold at an average price of $21.55, for a total transaction of $92,880.50. Following the completion of the sale, the director now directly owns 22,346 shares in the company, valued at $481,556.30. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Director Howard H. Xia bought 3,696 shares of II-VI stock in a transaction that occurred on Saturday, August 20th. The shares were acquired at an average cost of $21.67 per share, with a total value of $80,092.32. Following the acquisition, the director now owns 30,996 shares of the company’s stock, valued at $671,683.32. The disclosure for this purchase can be found here. Insiders own 6.80% of the company’s stock.

About II-VI

II-VI Incorporated develops, manufactures and markets engineered materials and opto-electronic components and products for precision use in industrial, optical communications, military, semiconductor, medical and life science, and consumer applications. The Company has three segments: II-VI Laser Solutions, II-VI Photonics and II-VI Performance Products.

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