Emerald Advisers Inc. PA Cuts Position in II-VI, Inc. (IIVI)

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Emerald Advisers Inc. PA reduced its position in II-VI, Inc. (NASDAQ:IIVI) by 19.4% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 352,613 shares of the scientific and technical instruments company’s stock after selling 84,974 shares during the quarter. Emerald Advisers Inc. PA owned about 0.55% of II-VI worth $16,679,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Tower Research Capital LLC TRC purchased a new position in shares of II-VI in the 2nd quarter worth $128,000. Jaffetilchin Investment Partners LLC purchased a new position in shares of II-VI in the 3rd quarter worth $238,000. Janus Henderson Group PLC purchased a new position in shares of II-VI in the 2nd quarter worth $244,000. Gagnon Securities LLC purchased a new position in shares of II-VI in the 2nd quarter worth $254,000. Finally, Sheets Smith Wealth Management increased its holdings in II-VI by 60.6% in the 2nd quarter. Sheets Smith Wealth Management now owns 8,391 shares of the scientific and technical instruments company’s stock valued at $365,000 after purchasing an additional 3,166 shares in the last quarter. 92.64% of the stock is currently owned by institutional investors and hedge funds.

Shares of II-VI stock opened at $37.23 on Thursday. The company has a debt-to-equity ratio of 0.41, a current ratio of 3.22 and a quick ratio of 2.17. The stock has a market cap of $2.30 billion, a PE ratio of 23.61, a price-to-earnings-growth ratio of 1.16 and a beta of 0.23. II-VI, Inc. has a 1-year low of $34.88 and a 1-year high of $53.08.

II-VI (NASDAQ:IIVI) last announced its earnings results on Tuesday, August 7th. The scientific and technical instruments company reported $0.52 earnings per share for the quarter, beating the consensus estimate of $0.39 by $0.13. The company had revenue of $321.10 million during the quarter, compared to the consensus estimate of $301.45 million. II-VI had a return on equity of 10.09% and a net margin of 7.59%. The company’s revenue was up 17.3% on a year-over-year basis. During the same period last year, the firm earned $0.50 earnings per share. On average, analysts predict that II-VI, Inc. will post 1.84 EPS for the current fiscal year.

In other II-VI news, VP David G. Wagner sold 4,833 shares of the firm’s stock in a transaction dated Tuesday, September 25th. The shares were sold at an average price of $49.00, for a total value of $236,817.00. Following the transaction, the vice president now owns 65,211 shares of the company’s stock, valued at $3,195,339. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Francis J. Kramer sold 910 shares of the firm’s stock in a transaction dated Wednesday, August 29th. The stock was sold at an average price of $50.00, for a total transaction of $45,500.00. Following the completion of the transaction, the director now directly owns 225,790 shares in the company, valued at approximately $11,289,500. The disclosure for this sale can be found here. Insiders sold 87,624 shares of company stock valued at $4,063,820 over the last quarter. Insiders own 4.00% of the company’s stock.

Several analysts recently issued reports on IIVI shares. BidaskClub upgraded II-VI from a “sell” rating to a “hold” rating in a report on Tuesday, October 16th. Needham & Company LLC increased their price target on II-VI from $50.00 to $53.00 and gave the company a “buy” rating in a report on Wednesday, August 8th. Zacks Investment Research downgraded II-VI from a “strong-buy” rating to a “hold” rating in a report on Friday, August 3rd. B. Riley lowered their price target on II-VI from $54.00 to $49.00 and set a “buy” rating for the company in a report on Thursday, August 2nd. Finally, Benchmark increased their price target on II-VI from $48.00 to $52.00 and gave the company a “buy” rating in a report on Wednesday, August 8th. Two analysts have rated the stock with a sell rating, three have assigned a hold rating and ten have issued a buy rating to the company’s stock. II-VI has a consensus rating of “Buy” and a consensus target price of $53.69.

About II-VI

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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Institutional Ownership by Quarter for II-VI (NASDAQ:IIVI)

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