Posted by admin on Jul 30th, 2022
SG Americas Securities LLC lowered its stake in II-VI Incorporated (NASDAQ:IIVI – Get Rating) by 46.8% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 16,418 shares of the scientific and technical instruments company’s stock after selling 14,432 shares during the period. SG Americas Securities LLC’s holdings in II-VI were worth $1,190,000 as of its most recent SEC filing.
Several other large investors have also modified their holdings of IIVI. First Horizon Advisors Inc. grew its stake in shares of II-VI by 276.0% during the fourth quarter. First Horizon Advisors Inc. now owns 485 shares of the scientific and technical instruments company’s stock valued at $33,000 after buying an additional 356 shares during the last quarter. Alpha Paradigm Partners LLC bought a new position in shares of II-VI during the fourth quarter valued at approximately $639,000. Confluence Wealth Services Inc. bought a new position in shares of II-VI during the fourth quarter valued at approximately $790,000. NorthCrest Asset Manangement LLC bought a new position in shares of II-VI during the fourth quarter valued at approximately $1,799,000. Finally, Congress Asset Management Co. MA grew its stake in shares of II-VI by 8.0% during the first quarter. Congress Asset Management Co. MA now owns 36,511 shares of the scientific and technical instruments company’s stock valued at $2,647,000 after buying an additional 2,707 shares during the last quarter. Hedge funds and other institutional investors own 97.88% of the company’s stock.
II-VI stock opened at $52.64 on Friday. The business has a fifty day moving average of $54.28 and a two-hundred day moving average of $61.99. The company has a quick ratio of 1.58, a current ratio of 1.99 and a debt-to-equity ratio of 0.29. The firm has a market cap of $5.60 billion, a P/E ratio of 29.08, a P/E/G ratio of 1.34 and a beta of 1.52. II-VI Incorporated has a twelve month low of $45.78 and a twelve month high of $75.05.
II-VI (NASDAQ:IIVI – Get Rating) last issued its quarterly earnings data on Tuesday, May 10th. The scientific and technical instruments company reported $0.83 EPS for the quarter, beating the consensus estimate of $0.72 by $0.11. II-VI had a return on equity of 13.85% and a net margin of 8.44%. The firm had revenue of $827.72 million during the quarter, compared to analyst estimates of $804.79 million. During the same quarter in the prior year, the business posted $0.80 EPS. The business’s revenue for the quarter was up 5.7% compared to the same quarter last year. On average, analysts forecast that II-VI Incorporated will post 3.16 earnings per share for the current fiscal year.
A number of research analysts have recently commented on IIVI shares. Morgan Stanley cut their target price on II-VI from $82.00 to $75.00 and set an “overweight” rating on the stock in a research note on Tuesday, June 14th. Raymond James dropped their price objective on II-VI from $82.00 to $81.00 and set an “outperform” rating on the stock in a research note on Tuesday, July 5th. Barclays dropped their price objective on II-VI from $65.00 to $47.00 and set an “underweight” rating on the stock in a research note on Monday, July 25th. TheStreet cut II-VI from a “b-” rating to a “c” rating in a research note on Friday, July 1st. Finally, Craig Hallum dropped their price objective on II-VI from $85.00 to $80.00 and set a “buy” rating on the stock in a research note on Friday, July 1st. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $77.62.
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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