Howard H. Xia Sells 4,000 Shares of II-VI Inc. (IIVI) Stock
II-VI Inc. (NASDAQ:IIVI) Director Howard H. Xia sold 4,000 shares of the stock in a transaction on Tuesday, November 22nd. The shares were sold at an average price of $30.67, for a total transaction of $122,680.00. Following the transaction, the director now directly owns 28,996 shares in the company, valued at approximately $889,307.32. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink.
Shares of II-VI Inc. (NASDAQ:IIVI) opened at 31.25 on Friday. The stock’s 50 day moving average is $27.39 and its 200-day moving average is $22.42. II-VI Inc. has a 52 week low of $16.09 and a 52 week high of $31.45. The company has a market cap of $1.95 billion, a price-to-earnings ratio of 30.34 and a beta of 0.27.
II-VI (NASDAQ:IIVI) last released its earnings results on Tuesday, October 25th. The company reported $0.35 EPS for the quarter, topping the consensus estimate of $0.23 by $0.12. II-VI had a net margin of 7.51% and a return on equity of 11.37%. The firm had revenue of $244.30 million for the quarter, compared to the consensus estimate of $220.04 million. During the same quarter in the previous year, the firm earned $0.27 earnings per share. The company’s quarterly revenue was up 17.1% compared to the same quarter last year. On average, equities analysts anticipate that II-VI Inc. will post $1.13 earnings per share for the current year.
A number of equities research analysts have issued reports on IIVI shares. Zacks Investment Research raised shares of II-VI from a “sell” rating to a “hold” rating in a report on Wednesday, October 5th. B. Riley raised shares of II-VI from a “neutral” rating to a “buy” rating and set a $33.50 price target on the stock in a report on Wednesday, October 26th. Benchmark Co. cut their price target on shares of II-VI from $25.00 to $23.50 and set a “buy” rating on the stock in a report on Tuesday, August 2nd. Finally, Needham & Company LLC raised their price target on shares of II-VI from $26.00 to $29.00 and gave the stock a “buy” rating in a report on Monday, October 24th. Four research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company’s stock. II-VI currently has an average rating of “Buy” and an average target price of $31.13.
Several institutional investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. increased its position in II-VI by 3.1% in the second quarter. Vanguard Group Inc. now owns 4,219,505 shares of the company’s stock valued at $79,158,000 after buying an additional 128,481 shares during the period. BlackRock Fund Advisors increased its stake in II-VI by 9.9% in the third quarter. BlackRock Fund Advisors now owns 3,852,156 shares of the company’s stock worth $93,723,000 after buying an additional 348,271 shares during the last quarter. Dimensional Fund Advisors LP increased its stake in II-VI by 12.9% in the second quarter. Dimensional Fund Advisors LP now owns 3,226,831 shares of the company’s stock worth $60,534,000 after buying an additional 367,967 shares during the last quarter. BlackRock Institutional Trust Company N.A. increased its stake in II-VI by 18.7% in the second quarter. BlackRock Institutional Trust Company N.A. now owns 1,718,384 shares of the company’s stock worth $32,237,000 after buying an additional 271,193 shares during the last quarter. Finally, State Street Corp increased its stake in II-VI by 6.2% in the second quarter. State Street Corp now owns 1,121,829 shares of the company’s stock worth $21,048,000 after buying an additional 65,883 shares during the last quarter. 72.28% of the stock is currently owned by hedge funds and other institutional investors.
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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