First Trust Advisors LP raised its holdings in II-VI, Inc. (NASDAQ:IIVI) by 22.7% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 69,499 shares of the scientific and technical instruments company’s stock after acquiring an additional 12,863 shares during the quarter. First Trust Advisors LP’s holdings in II-VI were worth $3,263,000 as of its most recent filing with the Securities and Exchange Commission.
Other hedge funds and other institutional investors have also modified their holdings of the company. Argent Capital Management LLC lifted its holdings in II-VI by 23.0% in the 3rd quarter. Argent Capital Management LLC now owns 57,710 shares of the scientific and technical instruments company’s stock valued at $2,375,000 after acquiring an additional 10,785 shares during the last quarter. SG Americas Securities LLC lifted its holdings in II-VI by 73.0% in the 4th quarter. SG Americas Securities LLC now owns 12,642 shares of the scientific and technical instruments company’s stock valued at $594,000 after acquiring an additional 5,333 shares during the last quarter. Emerald Advisers Inc. PA acquired a new stake in II-VI in the 4th quarter valued at about $12,541,000. Victory Capital Management Inc. lifted its holdings in II-VI by 659.8% in the 4th quarter. Victory Capital Management Inc. now owns 460,925 shares of the scientific and technical instruments company’s stock valued at $21,641,000 after acquiring an additional 400,258 shares during the last quarter. Finally, Assetmark Inc. lifted its holdings in II-VI by 157.5% in the 3rd quarter. Assetmark Inc. now owns 137,616 shares of the scientific and technical instruments company’s stock valued at $5,663,000 after acquiring an additional 84,176 shares during the last quarter. 89.26% of the stock is owned by institutional investors.
IIVI has been the subject of a number of research analyst reports. upped their price target on shares of II-VI from $50.00 to $56.00 and gave the company a “buy” rating in a report on Wednesday, November 15th. BidaskClub downgraded II-VI from a “hold” rating to a “sell” rating in a report on Saturday, February 10th. Loop Capital assumed coverage on II-VI in a report on Monday, January 29th. They set a “buy” rating and a $70.00 price objective on the stock. Northland Securities restated a “hold” rating and set a $45.00 price objective on shares of II-VI in a report on Friday, February 2nd. Finally, Piper Jaffray Companies assumed coverage on II-VI in a report on Tuesday, February 13th. They set an “overweight” rating and a $50.00 price objective on the stock. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and seven have issued a buy rating to the stock. II-VI currently has an average rating of “Buy” and an average price target of $51.55.
II-VI (NASDAQ:IIVI) last posted its quarterly earnings data on Thursday, February 1st. The scientific and technical instruments company reported $0.39 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.37 by $0.02. The firm had revenue of $281.50 million for the quarter, compared to the consensus estimate of $277.16 million. II-VI had a return on equity of 11.10% and a net margin of 8.08%. The business’s revenue for the quarter was up 21.4% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.49 EPS. equities analysts expect that II-VI, Inc. will post 1.55 earnings per share for the current year.
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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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