Great West Life Assurance Co. Can maintained its position in shares of II-VI Inc. (NASDAQ:IIVI) during the second quarter, according to its most recent disclosure with the SEC. The institutional investor owned 5,295 shares of the company’s stock at the end of the second quarter. Great West Life Assurance Co. Can’s holdings in II-VI were worth $115,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors also recently made changes to their positions in the stock. Norges Bank bought a new position in shares of II-VI during the fourth quarter worth approximately $12,644,000. Acadian Asset Management LLC raised its position in shares of II-VI by 442.3% in the first quarter. Acadian Asset Management LLC now owns 25,710 shares of the company’s stock worth $558,000 after buying an additional 20,969 shares in the last quarter. Commonwealth Equity Services Inc raised its position in shares of II-VI by 1.0% in the first quarter. Commonwealth Equity Services Inc now owns 75,906 shares of the company’s stock worth $1,648,000 after buying an additional 725 shares in the last quarter. Aperio Group LLC raised its position in shares of II-VI by 0.6% in the first quarter. Aperio Group LLC now owns 17,335 shares of the company’s stock worth $376,000 after buying an additional 101 shares in the last quarter. Finally, Ngam Advisors L.P. raised its position in shares of II-VI by 5.6% in the first quarter. Ngam Advisors L.P. now owns 40,305 shares of the company’s stock worth $875,000 after buying an additional 2,121 shares in the last quarter. 72.71% of the stock is owned by institutional investors and hedge funds.
II-VI Inc. (NASDAQ:IIVI) traded down 0.13% during mid-day trading on Wednesday, hitting $23.43. 64,040 shares of the stock traded hands. II-VI Inc. has a 52 week low of $15.69 and a 52 week high of $23.81. The firm’s 50-day moving average price is $21.94 and its 200-day moving average price is $20.75. The firm has a market cap of $1.47 billion, a P/E ratio of 22.53 and a beta of 0.55.
II-VI (NASDAQ:IIVI) last announced its quarterly earnings data on Tuesday, August 2nd. The company reported $0.40 EPS for the quarter, beating analysts’ consensus estimates of $0.24 by $0.16. II-VI had a net margin of 7.92% and a return on equity of 10.93%. The company earned $241.40 million during the quarter, compared to the consensus estimate of $214.13 million. During the same quarter last year, the firm posted $0.27 EPS. The company’s quarterly revenue was up 17.8% on a year-over-year basis. On average, equities analysts forecast that II-VI Inc. will post $1.04 earnings per share for the current fiscal year.
A number of research analysts have recently commented on IIVI shares. Needham & Company LLC reaffirmed a “buy” rating and set a $26.00 price objective on shares of II-VI in a research report on Monday, June 13th. Zacks Investment Research raised shares of II-VI from a “hold” rating to a “buy” rating and set a $22.00 price target for the company in a research report on Wednesday, June 22nd. Benchmark Co. dropped their price target on shares of II-VI from $25.00 to $23.50 and set a “buy” rating for the company in a research report on Tuesday, August 2nd. Finally, B. Riley reissued a “neutral” rating and issued a $22.00 price target on shares of II-VI in a research report on Wednesday, August 3rd. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and three have issued a buy rating to the company. II-VI has a consensus rating of “Hold” and an average target price of $23.38.
In related news, Director Wendy F. Dicicco sold 4,000 shares of II-VI stock in a transaction dated Thursday, September 8th. The shares were sold at an average price of $22.30, for a total transaction of $89,200.00. Following the completion of the sale, the director now owns 38,946 shares of the company’s stock, valued at approximately $868,495.80. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Howard H. Xia bought 3,696 shares of II-VI stock in a transaction that occurred on Saturday, August 20th. The shares were bought at an average cost of $21.67 per share, with a total value of $80,092.32. Following the acquisition, the director now directly owns 30,996 shares in the company, valued at approximately $671,683.32. The disclosure for this purchase can be found here. 6.80% of the stock is currently owned by insiders.
II-VI Company Profile
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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