II-VI, Inc. (NASDAQ:IIVI) – Equities researchers at B. Riley decreased their Q2 2019 EPS estimates for II-VI in a research report issued to clients and investors on Monday, October 29th, Zacks Investment Research reports. B. Riley analyst D. Kang now expects that the scientific and technical instruments company will earn $0.46 per share for the quarter, down from their previous estimate of $0.49. B. Riley has a “Neutral” rating on the stock. B. Riley also issued estimates for II-VI’s Q3 2019 earnings at $0.44 EPS, Q4 2019 earnings at $0.53 EPS, FY2019 earnings at $1.84 EPS, Q1 2020 earnings at $0.54 EPS, Q2 2020 earnings at $0.63 EPS, Q3 2020 earnings at $0.60 EPS, Q4 2020 earnings at $0.64 EPS and FY2020 earnings at $2.41 EPS.
II-VI (NASDAQ:IIVI) last announced its earnings results on Thursday, November 1st. The scientific and technical instruments company reported $0.56 EPS for the quarter, meeting analysts’ consensus estimates of $0.56. The firm had revenue of $314.40 million for the quarter, compared to analysts’ expectations of $310.92 million. II-VI had a return on equity of 10.89% and a net margin of 7.68%. II-VI’s quarterly revenue was up 20.2% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.32 EPS.
IIVI has been the topic of a number of other research reports. ValuEngine upgraded II-VI from a “hold” rating to a “buy” rating in a report on Wednesday, August 8th. BidaskClub raised II-VI from a “sell” rating to a “hold” rating in a research note on Thursday, August 23rd. Needham & Company LLC reduced their price target on II-VI from $55.00 to $48.00 and set a “buy” rating on the stock in a research note on Monday, November 12th. Morgan Stanley set a $48.00 price target on II-VI and gave the stock a “hold” rating in a research note on Wednesday, August 8th. Finally, Craig Hallum set a $47.00 price target on II-VI and gave the stock a “buy” rating in a research note on Monday, November 12th. Two investment analysts have rated the stock with a sell rating, five have issued a hold rating and seven have assigned a buy rating to the stock. The stock has a consensus rating of “Hold” and an average target price of $50.92.
NASDAQ:IIVI traded up $0.56 during trading hours on Tuesday, reaching $35.04. 1,005,383 shares of the company traded hands, compared to its average volume of 1,639,724. The stock has a market cap of $2.19 billion, a PE ratio of 20.37, a price-to-earnings-growth ratio of 1.13 and a beta of 0.66. The company has a debt-to-equity ratio of 0.50, a quick ratio of 2.45 and a current ratio of 3.63. II-VI has a 1-year low of $31.92 and a 1-year high of $53.08.
In related news, VP David G. Wagner sold 33,076 shares of the stock in a transaction on Tuesday, September 4th. The stock was sold at an average price of $48.01, for a total value of $1,587,978.76. Following the transaction, the vice president now directly owns 71,578 shares of the company’s stock, valued at approximately $3,436,459.78. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Francis J. Kramer sold 910 shares of the stock in a transaction on Wednesday, August 29th. The stock was sold at an average price of $50.00, for a total value of $45,500.00. Following the completion of the transaction, the director now directly owns 225,790 shares in the company, valued at $11,289,500. The disclosure for this sale can be found here. Insiders sold a total of 39,019 shares of company stock worth $1,880,096 over the last ninety days. Corporate insiders own 4.00% of the company’s stock.
A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. BlackRock Inc. increased its holdings in II-VI by 9.3% in the 2nd quarter. BlackRock Inc. now owns 8,651,418 shares of the scientific and technical instruments company’s stock valued at $375,905,000 after purchasing an additional 739,662 shares in the last quarter. Bank of New York Mellon Corp increased its holdings in II-VI by 5.9% in the 3rd quarter. Bank of New York Mellon Corp now owns 1,537,620 shares of the scientific and technical instruments company’s stock valued at $72,729,000 after purchasing an additional 86,227 shares in the last quarter. Macquarie Group Ltd. increased its holdings in II-VI by 24.4% in the 3rd quarter. Macquarie Group Ltd. now owns 1,293,301 shares of the scientific and technical instruments company’s stock valued at $61,173,000 after purchasing an additional 253,776 shares in the last quarter. Fort Pitt Capital Group LLC increased its holdings in II-VI by 3.4% in the 3rd quarter. Fort Pitt Capital Group LLC now owns 1,050,235 shares of the scientific and technical instruments company’s stock valued at $49,676,000 after purchasing an additional 34,245 shares in the last quarter. Finally, Robecosam AG increased its holdings in II-VI by 11.5% in the 3rd quarter. Robecosam AG now owns 959,000 shares of the scientific and technical instruments company’s stock valued at $44,881,000 after purchasing an additional 98,900 shares in the last quarter. Hedge funds and other institutional investors own 93.94% of the company’s stock.
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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