Bridge City Capital LLC bought a new stake in II-VI Incorporated (NASDAQ:IIVI) during the second quarter, according to its most recent filing with the SEC. The institutional investor bought 37,745 shares of the scientific and technical instruments company’s stock, valued at approximately $1,295,000. Bridge City Capital LLC owned 0.06% of II-VI as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. BlackRock Inc. boosted its position in shares of II-VI by 55,200.0% in the first quarter. BlackRock Inc. now owns 6,752,130 shares of the scientific and technical instruments company’s stock valued at $243,415,000 after buying an additional 6,739,920 shares in the last quarter. Vanguard Group Inc. boosted its position in shares of II-VI by 10.0% in the first quarter. Vanguard Group Inc. now owns 4,959,583 shares of the scientific and technical instruments company’s stock valued at $178,793,000 after buying an additional 450,482 shares in the last quarter. Dimensional Fund Advisors LP boosted its position in shares of II-VI by 3.5% in the first quarter. Dimensional Fund Advisors LP now owns 3,563,076 shares of the scientific and technical instruments company’s stock valued at $128,453,000 after buying an additional 121,261 shares in the last quarter. Wellington Management Group LLP purchased a new position in shares of II-VI during the first quarter valued at about $88,905,000. Finally, State Street Corp boosted its position in shares of II-VI by 9.1% in the first quarter. State Street Corp now owns 1,374,859 shares of the scientific and technical instruments company’s stock valued at $49,563,000 after buying an additional 114,283 shares in the last quarter. Hedge funds and other institutional investors own 77.74% of the company’s stock.

Shares of II-VI Incorporated (IIVI) opened at 34.80 on Friday. II-VI Incorporated has a 12-month low of $21.02 and a 12-month high of $41.10. The company has a 50-day moving average of $36.82 and a 200 day moving average of $34.82. The company has a market cap of $2.20 billion, a PE ratio of 23.51 and a beta of 0.07.

II-VI (NASDAQ:IIVI) last posted 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. II-VI had a return on equity of 12.94% and a net margin of 9.80%. The company had revenue of $273.70 million for the quarter, compared to the consensus estimate of $249.90 million. During the same quarter in the previous year, the business earned $0.40 earnings per share. The company’s revenue for the quarter was up 13.4% on a year-over-year basis. On average, equities research analysts expect that II-VI Incorporated will post $1.83 EPS for the current year.

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Several analysts recently weighed in on the stock. BidaskClub upgraded shares of II-VI from a “hold” rating to a “buy” rating in a report on Wednesday, July 19th. B. Riley reiterated a “buy” rating and issued a $35.75 price target on shares of II-VI in a report on Monday, May 8th. Northland Securities set a $45.00 price target on shares of II-VI and gave the company a “buy” rating in a report on Monday, August 7th. Benchmark Co. lifted their price target on shares of II-VI from $40.00 to $44.00 and gave the company a “buy” rating in a report on Tuesday, August 8th. Finally, ValuEngine upgraded shares of II-VI from a “hold” rating to a “buy” rating in a report on Thursday, June 1st. One equities 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. The company presently has an average rating of “Buy” and a consensus price target of $44.25.

In other news, Director Francis J. Kramer sold 20,000 shares of II-VI stock in a transaction on Monday, July 24th. The stock was sold at an average price of $40.00, for a total value of $800,000.00. The sale 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 II-VI stock in a transaction on Monday, July 10th. The shares were sold at an average price of $36.00, for a total value of $159,984.00. Following the completion of the sale, the vice president now directly owns 45,284 shares of the company’s stock, valued at $1,630,224. The disclosure for this sale can be found here. Insiders own 6.80% of the company’s stock.

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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