II-VI (NASDAQ:IIVI) Receives “Hold” Rating from Susquehanna Bancshares

Susquehanna Bancshares reaffirmed their hold rating on shares of II-VI (NASDAQ:IIVI) in a research report sent to investors on Tuesday, Stock Target Advisor reports. Susquehanna Bancshares currently has a $30.00 price target on the scientific and technical instruments company’s stock.

Other equities research analysts have also issued research reports about the stock. Cowen reissued an outperform rating on shares of II-VI in a report on Tuesday. Canaccord Genuity cut their price target on shares of II-VI from $46.00 to $42.00 and set a buy rating on the stock in a report on Tuesday. TheStreet lowered shares of II-VI from a b- rating to a c rating in a report on Tuesday, November 12th. Benchmark reissued a buy rating and issued a $48.00 price target on shares of II-VI in a report on Tuesday. Finally, Piper Sandler reissued a buy rating on shares of II-VI in a report on Tuesday. Seven research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. II-VI currently has an average rating of Buy and an average price target of $41.00.

Shares of NASDAQ:IIVI opened at $37.25 on Tuesday. The stock has a market cap of $3.39 billion, a PE ratio of -56.44 and a beta of 1.17. The company’s fifty day moving average is $35.80 and its 200 day moving average is $34.85. II-VI has a 52 week low of $26.93 and a 52 week high of $43.49. The company has a quick ratio of 1.85, a current ratio of 3.22 and a debt-to-equity ratio of 1.14.

II-VI (NASDAQ:IIVI) last issued its earnings results on Monday, February 10th. The scientific and technical instruments company reported $0.36 EPS for the quarter, hitting analysts’ consensus estimates of $0.36. The company had revenue of $666.30 million for the quarter, compared to analysts’ expectations of $610.30 million. II-VI had a negative net margin of 4.18% and a negative return on equity of 4.90%. The firm’s revenue was up 94.3% compared to the same quarter last year. During the same quarter last year, the company earned $0.71 EPS. Sell-side analysts anticipate that II-VI will post -2.22 EPS for the current year.

In other news, Director Howard H. Xia sold 9,300 shares of II-VI stock in a transaction dated Wednesday, February 12th. The shares were sold at an average price of $38.00, for a total transaction of $353,400.00. Following the sale, the director now owns 38,064 shares of the company’s stock, valued at approximately $1,446,432. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Vincent D. Mattera, Jr. sold 29,000 shares of II-VI stock in a transaction dated Friday, January 31st. The shares were sold at an average price of $33.65, for a total transaction of $975,850.00. Following the sale, the chief executive officer now directly owns 455,651 shares in the company, valued at approximately $15,332,656.15. The disclosure for this sale can be found here. In the last three months, insiders sold 38,800 shares of company stock worth $1,346,750. Insiders own 4.20% of the company’s stock.

Several institutional investors and hedge funds have recently made changes to their positions in the company. Louisiana State Employees Retirement System boosted its stake in shares of II-VI by 1.4% during the 4th quarter. Louisiana State Employees Retirement System now owns 21,100 shares of the scientific and technical instruments company’s stock valued at $710,000 after purchasing an additional 300 shares in the last quarter. Brookstone Capital Management boosted its stake in shares of II-VI by 3.1% during the 3rd quarter. Brookstone Capital Management now owns 14,299 shares of the scientific and technical instruments company’s stock valued at $503,000 after purchasing an additional 432 shares in the last quarter. Versant Capital Management Inc boosted its stake in shares of II-VI by 122.0% during the 3rd quarter. Versant Capital Management Inc now owns 1,230 shares of the scientific and technical instruments company’s stock valued at $43,000 after purchasing an additional 676 shares in the last quarter. Texas Permanent School Fund boosted its stake in shares of II-VI by 1.4% during the 4th quarter. Texas Permanent School Fund now owns 59,659 shares of the scientific and technical instruments company’s stock valued at $2,009,000 after purchasing an additional 824 shares in the last quarter. Finally, Benjamin F. Edwards & Company Inc. purchased a new position in II-VI during the 4th quarter valued at about $29,000. 93.40% of the stock is currently owned by hedge funds and other institutional investors.

About II-VI

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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Analyst Recommendations for II-VI (NASDAQ:IIVI)

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