Swiss National Bank increased its position in II-VI Inc. (NASDAQ:IIVI) by 5.5% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 92,800 shares of the company’s stock after buying an additional 4,800 shares during the period. Swiss National Bank owned 0.15% of II-VI worth $1,741,000 at the end of the most recent reporting period.
Several other institutional investors also recently modified their holdings of IIVI. Foundry Partners LLC bought a new position in shares of II-VI during the second quarter worth about $241,000. Acrospire Investment Management LLC bought a new position in shares of II-VI during the first quarter worth about $291,000. Legal & General Group Plc increased its position in shares of II-VI by 20.8% in the first quarter. Legal & General Group Plc now owns 14,831 shares of the company’s stock worth $319,000 after buying an additional 2,557 shares during the period. Aperio Group LLC increased 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 during the period. Finally, BNP Paribas Arbitrage SA increased its position in shares of II-VI by 103.6% in the second quarter. BNP Paribas Arbitrage SA now owns 18,328 shares of the company’s stock worth $344,000 after buying an additional 9,324 shares during the period. Institutional investors own 73.04% of the company’s stock.
Shares of II-VI Inc. (NASDAQ:IIVI) traded down 1.14% during midday trading on Friday, reaching $23.44. The company’s stock had a trading volume of 199,358 shares. The company has a market capitalization of $1.47 billion, a P/E ratio of 22.54 and a beta of 0.55. II-VI Inc. has a 12-month low of $15.50 and a 12-month high of $23.81. The company’s 50-day moving average price is $21.78 and its 200 day moving average price is $20.72.
II-VI (NASDAQ:IIVI) last posted its quarterly earnings data on Tuesday, August 2nd. The company reported $0.40 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.24 by $0.16. II-VI had a return on equity of 10.93% and a net margin of 7.92%. The firm earned $241.40 million during the quarter, compared to analysts’ expectations of $214.13 million. During the same period in the prior year, the business earned $0.27 EPS. The company’s revenue for the quarter was up 17.8% compared to the same quarter last year. On average, equities research analysts forecast that II-VI Inc. will post $1.04 earnings per share for the current year.
A number of brokerages have recently issued reports on IIVI. B. Riley restated a “neutral” rating and set a $22.00 price objective on shares of II-VI in a research report on Tuesday, August 9th. Needham & Company LLC restated 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 downgraded II-VI from a “hold” rating to a “sell” rating in a research report on Saturday, August 6th. Finally, Benchmark Co. lowered their price objective on II-VI from $25.00 to $23.50 and set a “buy” rating for the company in a research report on Tuesday, August 2nd. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and three have assigned a buy rating to the stock. The company presently has a consensus rating of “Hold” and an average price target of $23.38.
In other news, Director Howard H. Xia acquired 3,696 shares of the business’s stock in a transaction dated Saturday, August 20th. The stock was purchased at an average cost of $21.67 per share, for a total transaction of $80,092.32. Following the acquisition, the director now owns 30,996 shares of the company’s stock, valued at $671,683.32. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Wendy F. Dicicco sold 4,000 shares of the company’s stock in a transaction dated Thursday, September 8th. The stock was sold at an average price of $22.30, for a total value of $89,200.00. Following the completion of the transaction, the director now owns 38,946 shares of the company’s stock, valued at $868,495.80. The disclosure for this sale can be found here. 6.80% of the stock is 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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