Somewhat Favorable Press Coverage Somewhat Unlikely to Impact II-VI (IIVI) Stock Price
News articles about II-VI (NASDAQ:IIVI) have been trending somewhat positive this week, according to Accern Sentiment Analysis. Accern rates the sentiment of media coverage by reviewing more than 20 million blog and news sources in real time. Accern ranks coverage of companies on a scale of negative one to positive one, with scores nearest to one being the most favorable. II-VI earned a coverage optimism score of 0.18 on Accern’s scale. Accern also assigned headlines about the scientific and technical instruments company an impact score of 46.0163773462586 out of 100, indicating that recent media coverage is somewhat unlikely to have an impact on the company’s share price in the immediate future.
Here are some of the headlines that may have impacted Accern Sentiment’s rankings:
- Analysts focus on Buy position: II-VI Incorporated (IIVI) – Street Observer (press release) (streetobserver.com)
- Global Vertical Cavity Surface Emitting Laser (VCSELs) Market to Reach $3361.23 Million with 23.4% CAGR Forecast to 2022 (sbwire.com)
- Global infrared detector market forecast 2017-2022 published by leading research firm (whatech.com)
- New study: Global wire-winding SMD inductor market forecast 2017-2022 (whatech.com)
- II-VI to take Westinghouse space at Keystone Summit Corporate Park (bizjournals.com)
II-VI (NASDAQ IIVI) opened at 41.30 on Wednesday. The company has a market cap of $2.61 billion, a P/E ratio of 27.91 and a beta of 0.10. II-VI has a 12 month low of $25.05 and a 12 month high of $42.50. The stock has a 50 day moving average of $38.64 and a 200-day moving average of $35.31.
II-VI (NASDAQ:IIVI) last announced its earnings results on Monday, August 7th. The scientific and technical instruments company reported $0.50 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 the consensus estimate of $249.90 million. II-VI had a net margin of 9.80% and a return on equity of 12.94%. The firm’s revenue for the quarter was up 13.4% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.40 earnings per share. Equities research analysts expect that II-VI will post $1.83 EPS for the current year.
A number of brokerages have recently commented on IIVI. Benchmark Co. reissued a “buy” rating and issued a $44.00 price objective on shares of II-VI in a research report on Wednesday, September 13th. Zacks Investment Research raised shares of II-VI from a “hold” rating to a “strong-buy” rating and set a $46.00 price objective for the company in a research report on Wednesday, September 27th. BidaskClub downgraded shares of II-VI from a “hold” rating to a “sell” rating in a research report on Monday, August 14th. Needham & Company LLC reissued a “buy” rating and issued a $45.00 price objective (up previously from $40.00) on shares of II-VI in a research report on Wednesday, August 9th. Finally, Northland Securities set a $45.00 price objective on shares of II-VI and gave the company a “buy” rating in a research report on Monday, August 7th. One analyst has rated the stock with a sell rating, two have issued a hold rating and five have assigned a buy rating to the company. The stock presently has an average rating of “Buy” and a consensus target price of $44.92.
In related news, Director Francis J. Kramer sold 20,000 shares of the 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 document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 3.80% of the company’s stock.
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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