Today’s Stock On Watch: What Will Happen to II-VI, Inc. Next? The Stock Just Reaches 52-Week High

Today's Stock On Watch: What Will Happen to II VI, Inc. Next? The Stock Just Reaches 52 Week High

The stock of II-VI, Inc. (NASDAQ:IIVI) hit a new 52-week high and has $32.99 target or 5.00% above today’s $31.42 share price. The 5 months bullish chart indicates low risk for the $2.00 billion company. The 1-year high was reported on Nov, 23 by Barchart.com. If the $32.99 price target is reached, the company will be worth $100.00M 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 78,704 shares traded hands. II-VI, Inc. (NASDAQ:IIVI) has risen 41.04% since April 21, 2016 and is uptrending. It has outperformed by 35.71% the S&P500.

Analysts await II-VI, Inc. (NASDAQ:IIVI) to report earnings on January, 24. They expect $0.26 earnings per share, down 16.13% or $0.05 from last year’s $0.31 per share. IIVI’s profit will be $16.55M for 30.21 P/E if the $0.26 EPS becomes a reality. After $0.35 actual earnings per share reported by II-VI, Inc. for the previous quarter, Wall Street now forecasts -25.71% negative EPS growth.

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. II-VI has been the topic of 8 analyst reports since August 4, 2015 according to StockzIntelligence Inc. The firm earned “Hold” rating on Thursday, August 6 by Zacks. TheStreet downgraded the stock to “Buy” rating in Saturday, August 15 report. The stock has “Buy” rating given by Sidoti on Tuesday, August 4. The firm earned “Buy” rating on Monday, October 24 by Needham. Benchmark maintained it with “Buy” rating and $30 target price in Tuesday, October 25 report. The company was upgraded on Wednesday, October 26 by B. Riley & Co.

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 1.02 in 2016 Q2. Its down 0.01, from 1.03 in 2016Q1. The ratio dropped, 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.
Zurcher Kantonalbank (Zurich Cantonalbank) owns 1,154 shares or 0% of their US portfolio. Wealthtrust Axiom Ltd Liability holds 15,850 shares or 0.11% of its portfolio. American Grp Inc last reported 43,205 shares in the company. Panagora Asset Mgmt Incorporated, a Massachusetts-based fund reported 125,393 shares. M&T Bank accumulated 38,100 shares or 0% of the stock. The Connecticut-based Aqr Capital Management Lc has invested 0.01% in II-VI, Inc. (NASDAQ:IIVI). Ny State Teachers Retirement last reported 184,668 shares in the company. Moreover, Arbor Capital Mngmt Lc has 1.67% invested in II-VI, Inc. (NASDAQ:IIVI) for 169,196 shares. Great West Life Assurance Can holds 0% or 5,295 shares in its portfolio. Envestnet Asset Management accumulated 0% or 2,381 shares. Partners Ltd Liability owns 40,200 shares or 0.06% of their US portfolio. River Mercantile Asset Mgmt Llp last reported 4,100 shares in the company. Blackrock Japan Com Ltd reported 1,606 shares or 0% of all its holdings. First Citizens National Bank And Trust owns 23,694 shares or 0.04% of their US portfolio. Axa, a France-based fund reported 137,000 shares.

Insider Transactions: Since May 27, 2016, the stock had 1 insider purchase, and 4 selling transactions for $1.01 million net activity. $92,881 worth of shares were sold by MISTLER THOMAS E on Saturday, August 20. DICICCO WENDY F sold $89,200 worth of stock. 11,000 II-VI, Inc. (NASDAQ:IIVI) shares with value of $220,125 were sold by MATTERA VINCENT D JR. Xia Howard H. bought 3,696 shares worth $80,092. CORASANTI JOSEPH J had sold 33,400 shares worth $689,353 on Tuesday, June 7.

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: Post-Gazette.com and their article: “II-VI Inc. ends 2nd quarter with revenue gains” published on August 02, 2016 as well as Seekingalpha.com‘s news article titled: “II-VI Inc.: The High Quality Play In Optics” with publication date: September 22, 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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