II-VI (NASDAQ:IIVI) Receives “Hold” Rating from Susquehanna Bancshares

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Susquehanna Bancshares reaffirmed their hold rating on shares of II-VI (NASDAQ:IIVI) in a research report released on Tuesday, Stock Target Advisor reports. The brokerage currently has a $30.00 price objective on the scientific and technical instruments company’s stock.

A number of other equities research analysts also recently issued reports on the stock. Cowen reaffirmed an outperform rating on shares of II-VI in a research report on Tuesday. TheStreet downgraded shares of II-VI from a b- rating to a c rating in a research report on Tuesday, November 12th. Canaccord Genuity reduced their price objective on shares of II-VI from $46.00 to $42.00 and set a buy rating for the company in a research report on Tuesday. DA Davidson reduced their price objective on shares of II-VI to $40.00 and set a buy rating for the company in a research report on Thursday, November 14th. Finally, ValuEngine downgraded shares of II-VI from a buy rating to a hold rating in a research report on Tuesday, February 4th. Seven equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. The company has a consensus rating of Buy and an average target price of $41.00.

Shares of IIVI stock opened at $37.25 on Tuesday. II-VI has a 52-week low of $26.93 and a 52-week high of $43.49. The company has a debt-to-equity ratio of 1.14, a quick ratio of 1.85 and a current ratio of 3.22. The company has a 50-day simple moving average of $35.80 and a two-hundred day simple moving average of $34.85. The company has a market capitalization of $3.39 billion, a price-to-earnings ratio of -56.44 and a beta of 1.17.

II-VI (NASDAQ:IIVI) last issued its quarterly earnings data on Monday, February 10th. The scientific and technical instruments company reported $0.36 earnings per share (EPS) for the quarter, hitting the Zacks’ consensus estimate of $0.36. II-VI had a negative net margin of 4.18% and a negative return on equity of 4.90%. The business had revenue of $666.30 million during the quarter, compared to the consensus estimate of $610.30 million. During the same period in the prior year, the firm posted $0.71 EPS. The firm’s quarterly revenue was up 94.3% compared to the same quarter last year. On average, sell-side analysts forecast that II-VI will post -2.22 EPS for the current fiscal year.

In other news, CEO Vincent D. Mattera, Jr. sold 29,000 shares of the stock in a transaction that occurred on Friday, January 31st. The shares were sold at an average price of $33.65, for a total transaction of $975,850.00. Following the completion of the transaction, the chief executive officer now directly owns 455,651 shares of the company’s stock, valued at approximately $15,332,656.15. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Howard H. Xia sold 9,300 shares of the stock in a transaction that occurred on Wednesday, February 12th. The shares were sold at an average price of $38.00, for a total transaction of $353,400.00. Following the transaction, the director now directly owns 38,064 shares of the company’s stock, valued at $1,446,432. The disclosure for this sale can be found here. Insiders have sold a total of 38,800 shares of company stock valued at $1,346,750 over the last three months. Insiders own 4.20% of the company’s stock.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in IIVI. Benjamin F. Edwards & Company Inc. bought a new position in II-VI in the 4th quarter worth approximately $29,000. GQ Asset Management LLC purchased a new stake in II-VI in the 3rd quarter worth approximately $33,000. Robecosam AG lifted its stake in II-VI by 36.1% in the 4th quarter. Robecosam AG now owns 1,720,000 shares of the scientific and technical instruments company’s stock worth $34,000 after purchasing an additional 456,000 shares in the last quarter. Versant Capital Management Inc lifted its stake in II-VI by 122.0% in the 3rd quarter. Versant Capital Management Inc now owns 1,230 shares of the scientific and technical instruments company’s stock worth $43,000 after purchasing an additional 676 shares in the last quarter. Finally, Emerald Advisers LLC purchased a new stake in II-VI in the 4th quarter worth approximately $47,000. 93.40% of the stock is owned by institutional investors.

About II-VI

II-VI Incorporated develops, manufactures, and markets engineered materials, and optoelectronic components and devices worldwide. The company operates in three segments: II-VI Laser Solutions, II-VI Photonics, and II-VI Performance Products. The II-VI Laser Solutions segment offers optical and electro-optical components and materials primarily used in high-power CO2 lasers; fiber-delivered beam delivery systems, and processing tools and direct diode lasers for industrial lasers; direct diode laser modules, sub-systems, and systems; super-hard materials processing laser systems; and compound semiconductor epitaxial and gallium arsenide wafers.

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Analyst Recommendations for II-VI (NASDAQ:IIVI)

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