II-VI Incorporated (IIVI) Shares Down NaN Following Insider Selling
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.
ILLEGAL ACTIVITY WARNING: “II-VI Incorporated (IIVI) Shares Down NaN Following Insider Selling” was first posted by The Cerbat Gem and is owned by of The Cerbat Gem. If you are reading this story on another publication, it was copied illegally and reposted in violation of international trademark & copyright law. The legal version of this story can be accessed at https://www.thecerbatgem.com/2017/11/03/ii-vi-incorporated-iivi-shares-down-nan-following-insider-selling.html.
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.
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.