Divisar Capital Management LLC Purchases 20,000 Shares of II-VI, Inc. (NASDAQ:IIVI)

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Divisar Capital Management LLC raised its stake in II-VI, Inc. (NASDAQ:IIVI) by 10.3% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 214,526 shares of the scientific and technical instruments company’s stock after purchasing an additional 20,000 shares during the period. II-VI accounts for approximately 2.7% of Divisar Capital Management LLC’s investment portfolio, making the stock its 15th largest holding. Divisar Capital Management LLC owned about 0.34% of II-VI worth $7,843,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently bought and sold shares of the business. State Treasurer State of Michigan grew its stake in shares of II-VI by 2,427.1% during the second quarter. State Treasurer State of Michigan now owns 832,961 shares of the scientific and technical instruments company’s stock worth $30,453,000 after acquiring an additional 800,000 shares during the last quarter. Eagle Asset Management Inc. raised its stake in shares of II-VI by 248.9% during the 2nd quarter. Eagle Asset Management Inc. now owns 1,001,755 shares of the scientific and technical instruments company’s stock worth $36,624,000 after buying an additional 714,597 shares during the period. Carillon Tower Advisers Inc. increased its position in shares of II-VI by 321.7% during the second quarter. Carillon Tower Advisers Inc. now owns 650,000 shares of the scientific and technical instruments company’s stock worth $23,764,000 after purchasing an additional 495,852 shares in the last quarter. Cowen Inc. increased its position in shares of II-VI by 249.4% during the second quarter. Cowen Inc. now owns 74,675 shares of the scientific and technical instruments company’s stock worth $2,730,000 after purchasing an additional 124,675 shares in the last quarter. Finally, Firsthand Capital Management Inc. increased its position in shares of II-VI by 120.0% during the first quarter. Firsthand Capital Management Inc. now owns 220,000 shares of the scientific and technical instruments company’s stock worth $8,193,000 after purchasing an additional 120,000 shares in the last quarter. Institutional investors own 93.60% of the company’s stock.

In other II-VI news, CFO Mary Jane Raymond sold 16,000 shares of the stock in a transaction dated Monday, August 19th. The stock was sold at an average price of $39.25, for a total value of $628,000.00. Following the sale, the chief financial officer now owns 48,427 shares of the company’s stock, valued at approximately $1,900,759.75. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 4.00% of the stock is currently owned by corporate insiders.

A number of research firms have recently weighed in on IIVI. B. Riley lowered their price target on II-VI from $41.00 to $39.00 and set a “neutral” rating for the company in a report on Wednesday, August 14th. Needham & Company LLC reaffirmed a “buy” rating and issued a $44.00 price target (up previously from $39.00) on shares of II-VI in a research report on Monday, August 12th. BidaskClub upgraded II-VI from a “hold” rating to a “buy” rating in a report on Friday, July 26th. Benchmark reiterated a “buy” rating and issued a $53.00 price objective on shares of II-VI in a report on Wednesday, August 14th. Finally, Northland Securities restated a “buy” rating and set a $42.00 price target on shares of II-VI in a research note on Wednesday, August 14th. Two research analysts have rated the stock with a sell rating, two have given a hold rating and ten have given a buy rating to the company’s stock. The stock has an average rating of “Buy” and a consensus price target of $44.27.

NASDAQ:IIVI traded up $0.21 on Thursday, hitting $40.33. The company had a trading volume of 7,064 shares, compared to its average volume of 626,231. The company has a current ratio of 3.00, a quick ratio of 1.91 and a debt-to-equity ratio of 0.39. II-VI, Inc. has a 52 week low of $29.31 and a 52 week high of $49.10. The firm has a 50 day moving average of $38.40 and a two-hundred day moving average of $37.49. The stock has a market capitalization of $2.60 billion, a price-to-earnings ratio of 24.66, a PEG ratio of 1.01 and a beta of 1.12.

II-VI (NASDAQ:IIVI) last posted its quarterly earnings data on Tuesday, August 13th. The scientific and technical instruments company reported $0.67 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.38 by $0.29. II-VI had a net margin of 7.89% and a return on equity of 10.37%. The company had revenue of $362.70 million during the quarter, compared to analysts’ expectations of $348.02 million. During the same period in the prior year, the company posted $0.52 earnings per share. II-VI’s revenue for the quarter was up 13.0% compared to the same quarter last year. As a group, equities analysts forecast that II-VI, Inc. will post 1.84 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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Institutional Ownership by Quarter for II-VI (NASDAQ:IIVI)

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