State of Alaska Department of Revenue grew its holdings in II-VI, Inc. (NASDAQ:IIVI) by 74.9% in the 3rd quarter, HoldingsChannel.com reports. The fund owned 35,546 shares of the scientific and technical instruments company’s stock after purchasing an additional 15,220 shares during the quarter. State of Alaska Department of Revenue’s holdings in II-VI were worth $1,251,000 as of its most recent SEC filing.
A number of other hedge funds have also bought and sold shares of IIVI. NumerixS Investment Technologies Inc grew its position in II-VI by 398.3% in the first quarter. NumerixS Investment Technologies Inc now owns 2,990 shares of the scientific and technical instruments company’s stock worth $110,000 after acquiring an additional 2,390 shares in the last quarter. Advisory Services Network LLC lifted its stake in shares of II-VI by 105.9% in the first quarter. Advisory Services Network LLC now owns 1,750 shares of the scientific and technical instruments company’s stock worth $65,000 after buying an additional 900 shares during the last quarter. Nordea Investment Management AB acquired a new stake in shares of II-VI in the first quarter worth $4,408,000. Mint Tower Capital Management B.V. acquired a new stake in shares of II-VI in the first quarter worth $73,000. Finally, Winfield Associates Inc. lifted its stake in shares of II-VI by 27.5% in the second quarter. Winfield Associates Inc. now owns 9,267 shares of the scientific and technical instruments company’s stock worth $339,000 after buying an additional 2,000 shares during the last quarter. 93.60% of the stock is owned by institutional investors.
In other news, CFO Mary Jane Raymond sold 16,000 shares of the stock in a transaction on Monday, August 19th. The shares were sold at an average price of $39.25, for a total value of $628,000.00. Following the completion of the transaction, the chief financial officer now owns 48,427 shares in the company, valued at approximately $1,900,759.75. The sale was disclosed in a filing with the SEC, which is available at this link. Also, Director Marc Y. E. Pelaez sold 1,000 shares of the stock in a transaction on Tuesday, September 17th. The shares were sold at an average price of $40.72, for a total transaction of $40,720.00. Following the completion of the transaction, the director now owns 64,082 shares of the company’s stock, valued at approximately $2,609,419.04. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 17,500 shares of company stock valued at $687,300. Corporate insiders own 4.20% of the company’s stock.
IIVI has been the subject of a number of analyst reports. Northland Securities cut shares of II-VI from an “outperform” rating to a “market perform” rating and set a $39.00 price objective for the company. in a research note on Monday, September 30th. Benchmark restated a “buy” rating and issued a $53.00 price objective on shares of II-VI in a research note on Wednesday, August 14th. Morgan Stanley reduced their price objective on shares of II-VI from $44.00 to $42.00 and set an “equal weight” rating for the company in a research note on Monday, October 7th. BidaskClub cut shares of II-VI from a “hold” rating to a “sell” rating in a research note on Thursday. Finally, BTIG Research set a $31.00 price objective on shares of II-VI and gave the stock a “buy” rating in a research note on Friday, August 9th. Three investment analysts have rated the stock with a sell rating, four have assigned a hold rating and seven have assigned a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus price target of $43.91.
NASDAQ:IIVI opened at $32.17 on Friday. The stock has a market cap of $2.05 billion, a P/E ratio of 19.74 and a beta of 1.06. II-VI, Inc. has a one year low of $29.31 and a one year high of $47.53. The company has a fifty day moving average price of $36.92 and a 200 day moving average price of $36.99. The company has a debt-to-equity ratio of 0.39, a current ratio of 3.00 and a quick ratio of 1.91.
II-VI (NASDAQ:IIVI) last released its earnings results on Tuesday, August 13th. The scientific and technical instruments company reported $0.67 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.38 by $0.29. The firm had revenue of $362.70 million during the quarter, compared to analysts’ expectations of $348.02 million. II-VI had a net margin of 7.89% and a return on equity of 10.37%. The business’s quarterly revenue was up 13.0% compared to the same quarter last year. During the same period in the prior year, the company earned $0.52 EPS. As a group, equities research analysts anticipate that II-VI, Inc. will post 1.82 EPS for the current year.
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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