Price Action Don’t Lie: After Reaching All-Time High, Is II-VI, Inc.’s Near-Term Analysis Positive?

Price Action Don't Lie: After Reaching All Time High, Is II VI, Inc.'s Near Term Analysis Positive?

The stock of II-VI, Inc. (NASDAQ:IIVI) reached all time high today, Nov, 28 and still has $33.64 target or 8.00% above today’s $31.15 share price. This indicates more upside for the $1.95 billion company. This technical setup was reported by Barchart.com. If the $33.64 PT is reached, the company will be worth $156.00 million more.
Trading stocks at an all time highs is usually a winning strategy. An all time high points to a stock which has the most positive fundamentals ever. Even thought the pullback rate is high, if correct risk management is utilized, investors can trade very well such events. About 20,904 shares traded hands. II-VI, Inc. (NASDAQ:IIVI) has risen 45.30% since April 25, 2016 and is uptrending. It has outperformed by 39.29% 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 $16.28M for 29.95 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. On Monday, October 24 the stock rating was maintained by Needham with “Buy”. The rating was downgraded by Zacks on Thursday, August 6 to “Hold”. The firm has “Buy” rating by Sidoti given on Tuesday, August 4. The stock of II-VI, Inc. (NASDAQ:IIVI) earned “Buy” rating by Benchmark on Tuesday, October 25. The stock of II-VI, Inc. (NASDAQ:IIVI) earned “Buy” rating by B. Riley & Co on Wednesday, October 26. The company was downgraded on Saturday, August 15 by TheStreet.

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 Q2 2016. Its down 0.01, from 1.03 in 2016Q1. The ratio dived, 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.
Meritage Portfolio Mgmt accumulated 0.33% or 154,488 shares. Lord Abbett And Com Ltd Liability holds 226,471 shares or 0.01% of its portfolio. Ngam L P holds 0.01% of its portfolio in II-VI, Inc. (NASDAQ:IIVI) for 40,154 shares. Teachers Advsr has invested 0.02% of its portfolio in II-VI, Inc. (NASDAQ:IIVI). Qs Investors Ltd Liability has 0% invested in the company for 13,753 shares. Prudential Incorporated holds 0% of its portfolio in II-VI, Inc. (NASDAQ:IIVI) for 129,225 shares. Ubs Asset Mgmt Americas holds 31,598 shares or 0% of its portfolio. Pnc Fincl Group Inc has 0% invested in the company for 28,401 shares. Smithfield Trust, a Pennsylvania-based fund reported 3,500 shares. Jacobs Levy Equity Mngmt Incorporated last reported 0.01% of its portfolio in the stock. Pinebridge Invests Lp reported 6,729 shares or 0.01% of all its holdings. Capital One Natl Association has 0.03% invested in the company for 18,990 shares. The Ohio-based Fifth Third Commercial Bank has invested 0% in II-VI, Inc. (NASDAQ:IIVI). Creative Planning last reported 1,149 shares in the company. Calvert Inv Mngmt, a Maryland-based fund reported 143,301 shares.

Insider Transactions: Since June 7, 2016, the stock had 1 buying transaction, and 5 selling transactions for $1.13 million net activity. CORASANTI JOSEPH J had sold 33,400 shares worth $689,353 on Tuesday, June 7. Xia Howard H. sold $122,693 worth of II-VI, Inc. (NASDAQ:IIVI) on Monday, November 21. DICICCO WENDY F had sold 4,000 shares worth $89,200. MISTLER THOMAS E sold $92,881 worth of stock. MATTERA VINCENT D JR had sold 11,000 shares worth $220,125 on Tuesday, June 14.

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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