SG Americas Securities LLC increased its position in II-VI Incorporated (NASDAQ:IIVI) by 329.0% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 15,112 shares of the scientific and technical instruments company’s stock after buying an additional 11,589 shares during the quarter. SG Americas Securities LLC’s holdings in II-VI were worth $518,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other large investors have also recently added to or reduced their stakes in the stock. BlackRock Inc. lifted its position in II-VI by 55,200.0% in the 1st quarter. BlackRock Inc. now owns 6,752,130 shares of the scientific and technical instruments company’s stock worth $243,415,000 after buying an additional 6,739,920 shares during the last quarter. Vanguard Group Inc. lifted its position in II-VI by 10.0% in the 1st quarter. Vanguard Group Inc. now owns 4,959,583 shares of the scientific and technical instruments company’s stock worth $178,793,000 after buying an additional 450,482 shares during the last quarter. Dimensional Fund Advisors LP lifted its position in II-VI by 3.5% in the 1st quarter. Dimensional Fund Advisors LP now owns 3,563,076 shares of the scientific and technical instruments company’s stock worth $128,453,000 after buying an additional 121,261 shares during the last quarter. Wellington Management Group LLP bought a new stake in II-VI in the 1st quarter worth approximately $88,905,000. Finally, State Street Corp lifted its position in II-VI by 9.1% in the 1st quarter. State Street Corp now owns 1,374,859 shares of the scientific and technical instruments company’s stock worth $49,563,000 after buying an additional 114,283 shares during the last quarter. Institutional investors own 78.53% of the company’s stock.
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A number of analysts recently weighed in on IIVI shares. ValuEngine upgraded II-VI from a “hold” rating to a “buy” rating in a research report on Thursday, June 1st. BidaskClub upgraded II-VI from a “sell” rating to a “hold” rating in a research report on Thursday, June 15th. Needham & Company LLC boosted their target price on II-VI from $38.00 to $40.00 and gave the stock a “buy” rating in a research report on Wednesday, June 21st. Benchmark Co. restated a “buy” rating on shares of II-VI in a research report on Sunday, June 25th. Finally, Northland Securities started coverage on II-VI in a research report on Thursday, July 6th. They issued an “outperform” rating and a $45.00 target price for the company. One research analyst has rated the stock with a sell rating, two have given a hold rating and five have assigned a buy rating to the company. II-VI currently has a consensus rating of “Buy” and an average target price of $44.25.
II-VI Incorporated (NASDAQ:IIVI) opened at 36.65 on Monday. The stock has a market capitalization of $2.32 billion, a PE ratio of 24.76 and a beta of 0.07. The firm has a 50-day moving average price of $36.55 and a 200-day moving average price of $34.63. II-VI Incorporated has a 52 week low of $21.02 and a 52 week high of $41.10.
II-VI (NASDAQ:IIVI) last posted its quarterly earnings data on Monday, August 7th. The scientific and technical instruments company reported $0.50 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.33 by $0.17. The business had revenue of $273.70 million during the quarter, compared to analyst estimates of $249.90 million. II-VI had a return on equity of 12.94% and a net margin of 9.80%. The company’s revenue for the quarter was up 13.4% on a year-over-year basis. During the same period last year, the company earned $0.40 EPS. Equities research analysts predict that II-VI Incorporated will post $1.83 EPS for the current fiscal year.
In other news, VP David G. Wagner sold 4,444 shares of the firm’s stock in a transaction that occurred on Monday, July 10th. The stock was sold at an average price of $36.00, for a total value of $159,984.00. Following the completion of the sale, the vice president now directly owns 45,284 shares of the company’s stock, valued at approximately $1,630,224. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Francis J. Kramer sold 20,000 shares of the firm’s stock in a transaction that occurred on Monday, July 24th. The shares were sold at an average price of $40.00, for a total value of $800,000.00. The disclosure for this sale can be found here. 6.80% of the stock is owned by company insiders.
II-VI Company Profile
II-VI Incorporated develops and manufactures engineered materials, optoelectronic components and products. The Company has three segments: II-VI Laser Solutions, II-VI Photonics and II-VI Performance Products. The II-VI Laser Solutions segment designs, manufactures and markets optical and electro-optical components and materials sold under the II-VI Infrared brand name and used in carbon dioxide (CO2) lasers, fiber-delivered beam delivery systems and processing tools and direct diode lasers for industrial lasers sold under the II-VI HIGHYAG and II-VI Laser Enterprise brand names.
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