Insider Selling: II-VI, Inc. (NASDAQ:IIVI) Director Sells 14,500 Shares of Stock

II-VI, Inc. (NASDAQ:IIVI) Director Francis J. Kramer sold 14,500 shares of the business’s stock in a transaction dated Thursday, June 18th. The stock was sold at an average price of $50.04, for a total value of $725,580.00. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink.

Shares of IIVI opened at $48.48 on Thursday. II-VI, Inc. has a 1 year low of $19.00 and a 1 year high of $51.90. The company has a current ratio of 2.80, a quick ratio of 1.69 and a debt-to-equity ratio of 1.14. The stock has a 50 day simple moving average of $45.16 and a 200-day simple moving average of $35.13. The stock has a market cap of $4.47 billion, a PE ratio of -49.47 and a beta of 1.28.

II-VI (NASDAQ:IIVI) last released its quarterly earnings results on Monday, May 11th. The scientific and technical instruments company reported $0.47 EPS for the quarter, topping the Zacks’ consensus estimate of $0.14 by $0.33. The business had revenue of $627.00 million for the quarter, compared to analyst estimates 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 revenue for the quarter was up 83.1% on a year-over-year basis. During the same period in the prior year, the company earned $0.62 EPS. On average, sell-side analysts forecast that II-VI, Inc. will post -1.27 EPS for the current fiscal year.

Several equities analysts have commented on the company. Piper Sandler upped their price target on II-VI from $40.00 to $54.00 and gave the company an “overweight” rating in a report on Tuesday, May 12th. Barclays upped their price target on II-VI from $31.00 to $54.00 and gave the company an “overweight” rating in a report on Tuesday, May 12th. Canaccord Genuity upped their price target on II-VI from $42.00 to $52.00 and gave the company a “buy” rating in a report on Tuesday, May 12th. B. Riley upped their price target on II-VI from $28.50 to $35.00 and gave the company a “neutral” rating in a report on Tuesday, May 12th. Finally, JPMorgan Chase & Co. upped their price target on II-VI from $45.00 to $53.00 and gave the company an “overweight” rating in a report on Tuesday, May 12th. Five analysts have rated the stock with a hold rating, twelve have issued a buy rating and two have assigned a strong buy rating to the company. The stock has a consensus rating of “Buy” and a consensus target price of $47.91.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in IIVI. Franklin Resources Inc. grew its position in II-VI by 103.1% during the 1st quarter. Franklin Resources Inc. now owns 2,687,745 shares of the scientific and technical instruments company’s stock worth $76,601,000 after acquiring an additional 1,364,245 shares during the last quarter. Wellington Management Group LLP grew its position in II-VI by 11.7% during the 1st quarter. Wellington Management Group LLP now owns 10,442,286 shares of the scientific and technical instruments company’s stock worth $297,606,000 after acquiring an additional 1,092,635 shares during the last quarter. Waddell & Reed Financial Inc. grew its position in II-VI by 343.9% during the 1st quarter. Waddell & Reed Financial Inc. now owns 1,253,926 shares of the scientific and technical instruments company’s stock worth $35,737,000 after acquiring an additional 971,437 shares during the last quarter. Norges Bank bought a new stake in II-VI during the 4th quarter worth approximately $29,066,000. Finally, Mariner LLC bought a new stake in II-VI during the 4th quarter worth approximately $26,918,000. Institutional investors and hedge funds own 99.54% of the company’s stock.

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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Insider Buying and Selling by Quarter for II-VI (NASDAQ:IIVI)

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