California Public Employees Retirement System decreased its position in shares of II-VI Incorporated (NASDAQ:IIVI) by 3.6% during the first quarter, according to its most recent 13F filing with the SEC. The firm owned 123,700 shares of the scientific and technical instruments company’s stock after selling 4,600 shares during the period. California Public Employees Retirement System owned about 0.20% of II-VI worth $4,459,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Zurcher Kantonalbank Zurich Cantonalbank raised its stake in II-VI by 91.7% in the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,764 shares of the scientific and technical instruments company’s stock valued at $100,000 after buying an additional 1,322 shares during the last quarter. Meadow Creek Investment Management LLC increased its stake in II-VI by 1.9% in the first quarter. Meadow Creek Investment Management LLC now owns 2,996 shares of the scientific and technical instruments company’s stock valued at $108,000 after buying an additional 56 shares during the last quarter. Glen Harbor Capital Management LLC increased its stake in II-VI by 1.9% in the first quarter. Glen Harbor Capital Management LLC now owns 3,638 shares of the scientific and technical instruments company’s stock valued at $131,000 after buying an additional 68 shares during the last quarter. Mutual of America Capital Management LLC bought a new stake in II-VI during the first quarter valued at $180,000. Finally, LS Investment Advisors LLC increased its stake in II-VI by 158.9% in the first quarter. LS Investment Advisors LLC now owns 5,061 shares of the scientific and technical instruments company’s stock valued at $182,000 after buying an additional 3,106 shares during the last quarter. 78.41% of the stock is currently owned by institutional investors and hedge funds.

II-VI Incorporated (IIVI) traded down 1.05% during midday trading on Tuesday, hitting $37.75. The stock had a trading volume of 794,370 shares. The firm has a market capitalization of $2.38 billion, a price-to-earnings ratio of 31.43 and a beta of 0.07. II-VI Incorporated has a 1-year low of $20.50 and a 1-year high of $41.10. The firm has a 50-day moving average price of $36.17 and a 200-day moving average price of $34.65.

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 Thomson Reuters’ consensus estimate of $0.33 by $0.17. The company 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 12.49% and a net margin of 8.19%. The firm’s quarterly revenue was up 13.4% on a year-over-year basis. During the same quarter last year, the company earned $0.40 earnings per share. On average, equities research analysts anticipate that II-VI Incorporated will post $1.60 earnings per share for the current year.

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A number of equities research analysts have weighed in on IIVI shares. Craig Hallum assumed coverage on shares of II-VI in a report on Monday, July 24th. They issued a “buy” rating and a $50.00 price target for the company. BidaskClub raised shares of II-VI from a “hold” rating to a “buy” rating in a research note on Wednesday, July 19th. ValuEngine raised shares of II-VI from a “hold” rating to a “buy” rating in a research note on Thursday, June 1st. B. Riley reiterated a “buy” rating and issued a $35.75 target price on shares of II-VI in a report on Monday, May 8th. Finally, Needham & Company LLC reiterated a “buy” rating and issued a $38.00 target price (down previously from $40.00) on shares of II-VI in a report on Wednesday, May 3rd. Three analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and a consensus price target of $43.42.

In other II-VI news, VP David G. Wagner sold 4,444 shares of II-VI stock in a transaction dated Monday, July 10th. The stock was sold at an average price of $36.00, for a total transaction of $159,984.00. Following the completion of the sale, the vice president now owns 45,284 shares of the company’s stock, valued at $1,630,224. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Francis J. Kramer sold 20,000 shares of II-VI stock in a transaction dated Monday, July 24th. The stock was 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 currently 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.

Institutional Ownership by Quarter for II-VI (NASDAQ:IIVI)

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