Worth Watching: What’s Propelling II-VI, Inc. to Reach 52-Week High?

Worth Watching: What's Propelling II VI, Inc. to Reach 52 Week High?

The stock of II-VI, Inc. (NASDAQ:IIVI) hit a new 52-week high and has $36.63 target or 25.00% above today’s $29.30 share price. The 6 months bullish chart indicates low risk for the $1.84B company. The 1-year high was reported on Nov, 17 by Barchart.com. If the $36.63 price target is reached, the company will be worth $460.00 million more.
The 52-week high event is an important milestone for every stock because it shows very positive momentum and is time when buyers come in. During such notable technical setup, fundamental investors usually stay away and are careful shorting or selling the stock. About 29,969 shares traded hands. II-VI, Inc. (NASDAQ:IIVI) has risen 32.47% since April 15, 2016 and is uptrending. It has outperformed by 27.84% the S&P500.

II-VI, Inc. (NASDAQ:IIVI) Ratings Coverage

Out of 4 analysts covering II-VI (NASDAQ:IIVI), 4 rate it a “Buy”, 0 “Sell”, while 0 “Hold”. This means 100% are positive. $30 is the highest target while $19 is the lowest. The $26.50 average target is -9.56% below today’s ($29.3) stock price. II-VI has been the topic of 8 analyst reports since August 4, 2015 according to StockzIntelligence Inc. As per Wednesday, October 26, the company rating was upgraded by B. Riley & Co. On Tuesday, October 25 the stock rating was maintained by Benchmark with “Buy”. As per Monday, October 24, the company rating was maintained by Needham. The stock of II-VI, Inc. (NASDAQ:IIVI) has “Buy” rating given on Saturday, August 15 by TheStreet. The company was upgraded on Tuesday, August 4 by Sidoti. As per Thursday, August 6, the company rating was downgraded by Zacks.

According to Zacks Investment Research, “II-VI Incorporated designs, manufactures and markets optical and opto-electronic components, devices and materials for infrared, near-infrared, visible light, x-ray and gamma ray instrumentation. The Company’s infrared optics business manufactures optical and opto-electronic components sold under the II-VI brand name and used primarily in CO2 lasers. The Company’s near-infrared optics business manufactures near-infrared & visible light products for industrial, scientific, military & medical instruments and laser gain materials and products for solid-state YAG and YLF lasers at the Company’s VLOC subsidiary. The Company’s military infrared optics business manufactures infrared products for military applications under the Exotic Electro-Optics brand name.”

Insitutional Activity: The institutional sentiment decreased to 1.03 in 2016 Q2. Its down 0.62, from 1.65 in 2016Q1. The ratio is negative, as 27 funds sold all II-VI, Inc. shares owned while 62 reduced positions. 24 funds bought stakes while 68 increased positions. They now own 41.67 million shares or 4.66% more from 39.81 million shares in 2016Q1.
Shell Asset Mgmt holds 104,585 shares or 0.05% of its portfolio. Fifth Third Bancorporation accumulated 0% or 9,599 shares. Axa has 137,000 shares for 0.01% of their US portfolio. Moreover, Art Advisors Ltd has 0.1% invested in II-VI, Inc. (NASDAQ:IIVI) for 103,901 shares. The California-based Pillar Pacific Management Limited Liability Co has invested 0.06% in II-VI, Inc. (NASDAQ:IIVI). The Arizona-based Tci Wealth Advisors has invested 0% in II-VI, Inc. (NASDAQ:IIVI). Hussman Strategic Advsrs Incorporated last reported 550,000 shares in the company. Scout Invs has 212,825 shares for 0.11% of their US portfolio. State Of Tennessee Treasury Department holds 42,286 shares or 0% of its portfolio. American Intll Grp Inc Inc last reported 0% of its portfolio in the stock. First Republic Management has 0.1% invested in the company for 523,672 shares. Barrow Hanley Mewhinney And Strauss Ltd Liability Company reported 3.99M shares or 0.11% of all its holdings. Tiaa Cref Investment Ltd Limited Liability Company last reported 272,457 shares in the company. Telemark Asset Management Ltd Limited Liability Company holds 0.26% or 60,000 shares in its portfolio. Prudential Inc holds 0% or 129,225 shares in its portfolio.

Insider Transactions: Since May 27, 2016, the stock had 1 buying transaction, and 5 insider sales for $1.08 million net activity. $689,353 worth of II-VI, Inc. (NASDAQ:IIVI) shares were sold by CORASANTI JOSEPH J. The insider MISTLER THOMAS E sold $69,980. $80,092 worth of shares were bought by Xia Howard H. on Saturday, August 20. MATTERA VINCENT D JR had sold 11,000 shares worth $220,125. The insider DICICCO WENDY F sold $89,200.

More notable recent II-VI, Inc. (NASDAQ:IIVI) news were published by: Fool.com which released: “Why II-VI, Inc. Gained 14.3% in October” on November 10, 2016, also Fool.com with their article: “Why II-VI, Inc. Gained 15% in September” published on October 12, 2016, Fool.com published: “Why Shares of II-VI Inc. Slumped Today” on April 27, 2016. More interesting news about II-VI, Inc. (NASDAQ:IIVI) were released by: Seekingalpha.com and their article: “II-VI Inc.: The High Quality Play In Optics” published on September 22, 2016 as well as Post-Gazette.com‘s news article titled: “Revenue up 17 percent at II-VI Inc. for quarter, but profit slips” with publication date: October 25, 2016.

IIVI Company Profile

II-VI Incorporated, incorporated on June 22, 1971, develops and makes engineered materials, optoelectronic components and products for precision use in industrial, optical communications, military, semiconductor, consumer and life science applications. The Firm has three operating divisions: II-VI Laser Solutions, II-VI Photonics and II-VI Performance Products. The Company’s II-VI Laser Solutions segment designs, makes and markets optical and electro-optical components and materials sold under the II-VI Infrared brand name and used primarily in high-power carbon dioxide (CO2) lasers, fiber-delivered beam delivery systems and processing tools and direct diode lasers for industrial lasers sold under the II-VI HIGHYAG and II-VI Laser Enterprise brand names. The II-VI Laser Solutions segment also makes compound semiconductor epitaxial wafers for applications in optical components, wireless devices, and communication systems and makes approximately six-inch gallium arsenide wafers allowing for the production of lasers and integrated circuits sold under the II-VI EpiWorks and II-VI OptoElectronic Devices Division brand names. The II-VI Photonics segment makes crystal materials, optics, microchip lasers and opto-electronic modules for use in optical communication networks and other consumer and commercial applications. In addition, the II-VI Photonics segment also makes pump lasers, and optical amplifiers and micro-optics for optical amplifiers for both terrestrial and submarine applications within the optical communications market. The Company’s II-VI Performance Products segment designs, makes and markets infrared optical components and high-precision optical assemblies for military, medical and commercial laser imaging applications. In addition, the II-VI Performance Products segment designs, makes and markets engineered materials for thermo-electric and silicon carbide applications servicing the semiconductor, military and medical markets.

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