Posted by admin on Aug 16th, 2022
II-VI (NASDAQ:IIVI – Get Rating) had its target price lowered by Cowen to $110.00 in a research note issued to investors on Monday, Stock Target Advisor reports.
A number of other research firms have also issued reports on IIVI. Raymond James reduced their price target on II-VI from $82.00 to $81.00 and set an outperform rating on the stock in a research report on Tuesday, July 5th. TheStreet lowered II-VI from a b- rating to a c rating in a research report on Friday, July 1st. Susquehanna Bancshares reduced their price target on II-VI to $58.00 in a research report on Monday, July 25th. Morgan Stanley lowered II-VI from an overweight rating to an equal weight rating and reduced their price target for the company from $75.00 to $59.00 in a research report on Friday. Finally, Barclays reduced their price target on II-VI from $65.00 to $47.00 and set an underweight rating on the stock in a research report on Monday, July 25th. One analyst has rated the stock with a sell rating, six have assigned a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of Hold and an average price target of $77.92.
IIVI opened at $53.25 on Monday. The stock’s 50-day moving average price is $52.43 and its 200 day moving average price is $60.95. II-VI has a 12-month low of $45.78 and a 12-month high of $75.05. The company has a current ratio of 1.99, a quick ratio of 1.58 and a debt-to-equity ratio of 0.29. The firm has a market cap of $5.67 billion, a price-to-earnings ratio of 29.42, a PEG ratio of 1.41 and a beta of 1.45.
A number of hedge funds have recently added to or reduced their stakes in IIVI. First Horizon Advisors Inc. grew its stake in II-VI by 276.0% during the 4th quarter. First Horizon Advisors Inc. now owns 485 shares of the scientific and technical instruments company’s stock worth $33,000 after buying an additional 356 shares during the last quarter. CKW Financial Group purchased a new position in II-VI during the 2nd quarter worth approximately $34,000. Capital Wealth Alliance LLC purchased a new position in II-VI during the 2nd quarter worth approximately $216,000. Alpha Paradigm Partners LLC purchased a new position in II-VI during the 4th quarter worth approximately $639,000. Finally, Confluence Wealth Services Inc. purchased a new position in II-VI during the 4th quarter worth approximately $790,000. Hedge funds and other institutional investors own 97.88% of the company’s stock.
II-VI Incorporated develops, manufactures, and markets engineered materials, optoelectronic components, and devices worldwide. It operates through two segments, Compound Semiconductors and Photonic Solutions. The Compound Semiconductors segment provides optical and electro-optical components and materials used in high-power CO2 lasers, fiber-lasers, and direct diode lasers for materials processing applications; infrared optical components and high-precision optical assemblies for aerospace and defense, medical, and commercial laser imaging applications; semiconductor lasers and detectors for optical interconnects and sensing applications; engineered materials for thermoelectric, ceramics, and silicon carbide various applications; and compound semiconductor epitaxial wafers for applications in optical and wireless communication.
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