First Trust Advisors LP raised its position in shares of II-VI Inc. (NASDAQ:IIVI) by 9.5% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 89,641 shares of the company’s stock after buying an additional 7,769 shares during the period. First Trust Advisors LP owned about 0.15% of II-VI worth $1,682,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also bought and sold shares of the company. BlackRock Institutional Trust Company N.A. raised its position in II-VI by 9.6% in the first quarter. BlackRock Institutional Trust Company N.A. now owns 1,447,191 shares of the company’s stock worth $31,419,000 after buying an additional 126,786 shares in the last quarter. Renaissance Technologies LLC raised its position in shares of II-VI by 83.3% in the first quarter. Renaissance Technologies LLC now owns 860,910 shares of the company’s stock worth $18,690,000 after buying an additional 391,132 shares during the period. Fort Pitt Capital Group LLC raised its position in shares of II-VI by 65.8% in the second quarter. Fort Pitt Capital Group LLC now owns 834,508 shares of the company’s stock worth $15,655,000 after buying an additional 331,250 shares during the period. Norges Bank purchased a new position in shares of II-VI during the fourth quarter worth about $12,644,000. Finally, Teachers Advisors Inc. raised its position in shares of II-VI by 11.6% in the first quarter. Teachers Advisors Inc. now owns 619,254 shares of the company’s stock worth $13,444,000 after buying an additional 64,248 shares during the period. Institutional investors own 72.71% of the company’s stock.
Shares of II-VI Inc. (NASDAQ:IIVI) traded up 1.009% on Tuesday, reaching $23.535. 97,782 shares of the company’s stock traded hands. The firm has a market capitalization of $1.47 billion, a price-to-earnings ratio of 22.630 and a beta of 0.55. The company has a 50 day moving average price of $21.86 and a 200 day moving average price of $20.73. II-VI Inc. has a 52 week low of $15.69 and a 52 week high of $23.81.
II-VI (NASDAQ:IIVI) last announced its quarterly earnings data on Tuesday, August 2nd. The company reported $0.40 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.24 by $0.16. The company had revenue of $241.40 million for the quarter, compared to analysts’ expectations of $214.13 million. II-VI had a net margin of 7.92% and a return on equity of 10.93%. The business’s revenue was up 17.8% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.27 EPS. On average, equities research analysts predict that II-VI Inc. will post $1.04 earnings per share for the current fiscal year.
A number of research analysts have recently issued reports on the stock. B. Riley reiterated a “neutral” rating and set a $22.00 price target on shares of II-VI in a research note on Tuesday, August 9th. Zacks Investment Research lowered shares of II-VI from a “hold” rating to a “sell” rating in a research note on Saturday, August 6th. Needham & Company LLC reiterated a “buy” rating and set a $26.00 price target on shares of II-VI in a research note on Wednesday, August 3rd. Finally, Benchmark Co. dropped their price target on shares of II-VI from $25.00 to $23.50 and set a “buy” rating on the stock in a research note on Tuesday, August 2nd. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and three have given a buy rating to the stock. II-VI currently has an average rating of “Hold” and a consensus price target of $23.38.
In other news, Director Howard H. Xia bought 3,696 shares of the company’s stock in a transaction dated Saturday, August 20th. The shares were acquired at an average cost of $21.67 per share, with a total value of $80,092.32. Following the completion of the transaction, the director now directly owns 30,996 shares in the company, valued at approximately $671,683.32. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Thomas E. Mistler sold 4,310 shares of II-VI stock in a transaction that occurred on Tuesday, August 23rd. The stock was sold at an average price of $21.55, for a total transaction of $92,880.50. Following the completion of the transaction, the director now directly owns 22,346 shares in the company, valued at $481,556.30. The disclosure for this sale can be found here. 6.80% of the stock is currently owned by insiders.
II-VI Incorporated develops, manufactures and markets engineered materials and opto-electronic components and products for precision use in industrial, optical communications, military, semiconductor, medical and life science, and consumer applications. The Company has three segments: II-VI Laser Solutions, II-VI Photonics and II-VI Performance Products.
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