Brookstone Capital Management increased its position in II-VI, Inc. (NASDAQ:IIVI) by 3.1% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 14,299 shares of the scientific and technical instruments company’s stock after buying an additional 432 shares during the quarter. Brookstone Capital Management’s holdings in II-VI were worth $503,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other institutional investors have also recently added to or reduced their stakes in the company. Huntington National Bank acquired a new stake in II-VI during the 2nd quarter valued at approximately $29,000. First Interstate Bank increased its position in II-VI by 125.0% during the 2nd quarter. First Interstate Bank now owns 900 shares of the scientific and technical instruments company’s stock valued at $33,000 after purchasing an additional 500 shares during the period. Versant Capital Management Inc increased its position in II-VI by 122.0% during the 3rd quarter. Versant Capital Management Inc now owns 1,230 shares of the scientific and technical instruments company’s stock valued at $43,000 after purchasing an additional 676 shares during the period. Doyle Wealth Management acquired a new stake in II-VI during the 2nd quarter valued at approximately $55,000. Finally, Advisory Services Network LLC increased its position in II-VI by 105.9% during the 1st quarter. Advisory Services Network LLC now owns 1,750 shares of the scientific and technical instruments company’s stock valued at $65,000 after purchasing an additional 900 shares during the period. 92.72% of the stock is owned by institutional investors.
A number of analysts have weighed in on IIVI shares. Needham & Company LLC reissued a “buy” rating and set a $46.00 target price on shares of II-VI in a research report on Thursday, September 26th. Morgan Stanley decreased their target price on shares of II-VI from $44.00 to $42.00 and set an “equal weight” rating for the company in a research report on Monday, October 7th. BTIG Research set a $31.00 target price on shares of II-VI and gave the company a “buy” rating in a research report on Friday, August 9th. BidaskClub downgraded shares of II-VI from a “hold” rating to a “sell” rating in a research report on Thursday, October 10th. Finally, Benchmark reissued a “buy” rating and set a $53.00 target price on shares of II-VI in a research report on Wednesday, August 14th. Two research analysts have rated the stock with a sell rating, five have issued a hold rating and seven have assigned a buy rating to the company. The stock has an average rating of “Hold” and an average target price of $43.91.
In other II-VI news, Director Marc Y. E. Pelaez sold 1,000 shares of the stock in a transaction that occurred on Tuesday, September 17th. The stock was sold at an average price of $40.72, for a total transaction of $40,720.00. Following the transaction, the director now directly owns 64,082 shares in the company, valued at approximately $2,609,419.04. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CFO Mary Jane Raymond sold 16,000 shares of the stock in a transaction that occurred on Monday, August 19th. The stock was sold at an average price of $39.25, for a total value of $628,000.00. Following the transaction, the chief financial officer now owns 48,427 shares in the company, valued at $1,900,759.75. The disclosure for this sale can be found here. Insiders have sold a total of 17,500 shares of company stock worth $687,300 over the last 90 days. Company insiders own 4.20% of the company’s stock.
II-VI stock opened at $32.24 on Tuesday. The stock has a market capitalization of $2.10 billion, a price-to-earnings ratio of 19.78 and a beta of 1.06. II-VI, Inc. has a 52-week low of $29.31 and a 52-week high of $47.53. The stock’s 50 day moving average price is $35.94 and its two-hundred day moving average price is $36.74. The company has a debt-to-equity ratio of 0.39, a quick ratio of 1.91 and a current ratio of 3.00.
II-VI (NASDAQ:IIVI) last posted its quarterly earnings results on Tuesday, August 13th. The scientific and technical instruments company reported $0.67 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.38 by $0.29. The firm had revenue of $362.70 million for the quarter, compared to analysts’ expectations of $348.02 million. II-VI had a return on equity of 10.37% and a net margin of 7.89%. The company’s revenue for the quarter was up 13.0% compared to the same quarter last year. During the same period in the prior year, the business earned $0.52 EPS. On average, equities research analysts forecast that II-VI, Inc. will post 1.82 EPS for the current year.
II-VI Company Profile
II-VI Incorporated develops, manufactures, and markets engineered materials, and optoelectronic components and devices worldwide. The company operates in three segments: II-VI Laser Solutions, II-VI Photonics, and II-VI Performance Products. The II-VI Laser Solutions segment offers optical and electro-optical components and materials primarily used in high-power CO2 lasers; fiber-delivered beam delivery systems, and processing tools and direct diode lasers for industrial lasers; direct diode laser modules, sub-systems, and systems; super-hard materials processing laser systems; and compound semiconductor epitaxial and gallium arsenide wafers.
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