II-VI Incorporated (NASDAQ:IIVI) shares fell NaN during trading on Thursday after an insider sold shares in the company. The company traded as low as $41.55 and last traded at $0.00. 1,062,287 shares traded hands during trading, an increase of Infinity from the average session volume of 0 shares. Specifically, CFO Mary Jane Raymond sold 1,000 shares of II-VI stock in a transaction that occurred on Tuesday, October 31st. The shares were sold at an average price of $45.00, for a total value of $45,000.00. Following the transaction, the chief financial officer now directly owns 53,415 shares of the company’s stock, valued at $2,403,675. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Francis J. Kramer sold 25,000 shares of II-VI stock in a transaction that occurred on Tuesday, October 31st. The stock was sold at an average price of $45.10, for a total transaction of $1,127,500.00. Following the completion of the transaction, the director now directly owns 286,259 shares in the company, valued at $12,910,280.90. The disclosure for this sale can be found here. Insiders sold a total of 51,000 shares of company stock worth $2,222,500 over the last quarter. Insiders own 3.80% of the company’s stock.

IIVI has been the topic of several analyst reports. Benchmark Co. reissued a “buy” rating and issued a $44.00 target price on shares of II-VI in a research report on Wednesday, September 13th. Needham & Company LLC reaffirmed a “buy” rating and set a $45.00 price objective (up from $40.00) on shares of II-VI in a research report on Wednesday, August 9th. 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. Craig Hallum started coverage on shares of II-VI in a research report on Monday, July 24th. They set a “buy” rating and a $50.00 price objective on the stock. Finally, BidaskClub raised shares of II-VI from a “hold” rating to a “buy” rating in a research report on Wednesday, July 19th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and five have assigned a buy rating to the stock. II-VI has a consensus rating of “Buy” and a consensus price target of $48.58.

II-VI (NASDAQ:IIVI) last issued its quarterly earnings results on Tuesday, October 31st. The scientific and technical instruments company reported $0.32 earnings per share for the quarter, missing the consensus estimate of $0.36 by ($0.04). The business had revenue of $261.50 million for the quarter, compared to the consensus estimate of $255.20 million. II-VI had a return on equity of 12.25% and a net margin of 9.89%. II-VI’s revenue was up 18.1% compared to the same quarter last year. During the same period in the prior year, the business earned $0.35 earnings per share.

Several institutional investors and hedge funds have recently modified their holdings of the company. Kornitzer Capital Management Inc. KS grew its stake in shares of II-VI by 83.0% in the third quarter. Kornitzer Capital Management Inc. KS now owns 137,480 shares of the scientific and technical instruments company’s stock valued at $5,657,000 after buying an additional 62,335 shares in the last quarter. Bridge City Capital LLC grew its stake in shares of II-VI by 8.7% in the third quarter. Bridge City Capital LLC now owns 41,025 shares of the scientific and technical instruments company’s stock valued at $1,688,000 after buying an additional 3,280 shares in the last quarter. Piedmont Investment Advisors LLC bought a new position in shares of II-VI in the second quarter valued at $407,000. Argent Capital Management LLC bought a new position in shares of II-VI in the second quarter valued at $1,610,000. Finally, Pinebridge Investments L.P. grew its stake in shares of II-VI by 1.9% in the second quarter. Pinebridge Investments L.P. now owns 7,237 shares of the scientific and technical instruments company’s stock valued at $249,000 after buying an additional 137 shares in the last quarter. 78.17% of the stock is owned by institutional investors.

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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.

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