II-VI Incorporated (NASDAQ:IIVI) released its earnings results on Monday, August 7th. The scientific and technical instruments company reported $0.50 EPS for the quarter, beating the Zacks’ consensus estimate of $0.33 by $0.17, Bloomberg Earnings reports. The business had revenue of $273.70 million for the quarter, compared to analysts’ expectations of $249.90 million. II-VI had a return on equity of 12.94% and a net margin of 9.80%. The firm’s revenue was up 13.4% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.40 earnings per share. II-VI updated its Q1 guidance to $0.37-0.41 EPS.

Shares of II-VI (NASDAQ:IIVI) traded up 0.57% during mid-day trading on Friday, reaching $35.25. 295,795 shares of the company’s stock traded hands. The firm has a market capitalization of $2.22 billion, a price-to-earnings ratio of 23.82 and a beta of 0.07. II-VI has a 12-month low of $21.02 and a 12-month high of $41.10. The stock has a 50-day moving average price of $36.81 and a 200 day moving average price of $34.87.

WARNING: “II-VI Incorporated (IIVI) Posts Earnings Results” was published by The Cerbat Gem and is owned by of The Cerbat Gem. If you are accessing this news story on another website, it was copied illegally and republished in violation of U.S. and international trademark and copyright law. The correct version of this news story can be accessed at https://www.thecerbatgem.com/2017/08/19/ii-vi-incorporated-iivi-posts-quarterly-earnings-results-beats-estimates-by-0-17-eps-updated.html.

In related news, Director Francis J. Kramer sold 20,000 shares of the firm’s stock in a transaction dated Monday, July 24th. The shares were sold at an average price of $40.00, for a total transaction of $800,000.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, VP David G. Wagner sold 4,444 shares of the firm’s 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 sale, the vice president now owns 45,284 shares of the company’s stock, valued at $1,630,224. The disclosure for this sale can be found here. 6.80% of the stock is currently owned by company insiders.

A number of large investors have recently added to or reduced their stakes in IIVI. Norges Bank purchased a new stake in II-VI during the fourth quarter valued at about $22,341,000. Quadrature Capital Ltd bought a new stake in shares of II-VI during the fourth quarter worth $233,000. Macquarie Group Ltd. bought a new stake in shares of II-VI during the fourth quarter worth $8,923,000. Bank of Montreal Can boosted its stake in shares of II-VI by 32.4% in the first quarter. Bank of Montreal Can now owns 127,846 shares of the scientific and technical instruments company’s stock worth $4,609,000 after buying an additional 31,312 shares in the last quarter. Finally, Louisiana State Employees Retirement System boosted its stake in shares of II-VI by 1.8% in the first quarter. Louisiana State Employees Retirement System now owns 22,200 shares of the scientific and technical instruments company’s stock worth $800,000 after buying an additional 400 shares in the last quarter. Hedge funds and other institutional investors own 77.74% of the company’s stock.

A number of research firms recently commented on IIVI. BidaskClub raised II-VI from a “sell” rating to a “hold” rating in a research note on Thursday, June 15th. Needham & Company LLC upped their price target on shares of II-VI from $38.00 to $40.00 and gave the company a “buy” rating in a research report on Wednesday, June 21st. B. Riley lowered shares of II-VI from a “buy” rating to a “neutral” rating and increased their target price for the stock from $35.75 to $39.50 in a report on Wednesday, July 26th. Craig Hallum started coverage on shares of II-VI in a report on Monday, July 24th. They set a “buy” rating and a $50.00 target price for the company. Finally, Benchmark Co. reiterated a “buy” rating on shares of II-VI in a report on Sunday, June 25th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and five have issued a buy rating to the company’s stock. The company has an average rating of “Buy” and a consensus target price of $44.25.

About II-VI

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.

Earnings History for II-VI (NASDAQ:IIVI)

Receive News & Stock Ratings for II-VI Incorporated Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for II-VI Incorporated and related stocks with our FREE daily email newsletter.