II-VI Target of Unusually Large Options Traded (IIVI)

II-VI Target of Unusually Large Options Traded (IIVI)

II-VI, Inc. (NASDAQ:IIVI) saw some unusual options trading activity on Monday. Stock traders bought 1,934 call options on the company. This is an increase of approximately 1,435% compared to the typical daily volume of 126 call options.

In other news, VP David G. Wagner sold 4,833 shares of II-VI stock in a transaction that occurred on 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 transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Company insiders own 4.00% of the company’s stock.

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. BlackRock Inc. lifted its position in II-VI by 9.3% during the 2nd quarter. BlackRock Inc. now owns 8,651,418 shares of the scientific and technical instruments company’s stock worth $375,905,000 after buying an additional 739,662 shares in the last quarter. Vanguard Group Inc. lifted its position in II-VI by 4.5% during the 3rd quarter. Vanguard Group Inc. now owns 5,867,148 shares of the scientific and technical instruments company’s stock worth $277,516,000 after buying an additional 253,898 shares in the last quarter. Bank of New York Mellon Corp lifted its position in II-VI by 5.9% during the 3rd quarter. Bank of New York Mellon Corp now owns 1,537,620 shares of the scientific and technical instruments company’s stock worth $72,729,000 after buying an additional 86,227 shares in the last quarter. Macquarie Group Ltd. lifted its position in II-VI by 24.4% during the 3rd quarter. Macquarie Group Ltd. now owns 1,293,301 shares of the scientific and technical instruments company’s stock worth $61,173,000 after buying an additional 253,776 shares in the last quarter. Finally, Fort Pitt Capital Group LLC lifted its position in II-VI by 3.4% during the 3rd quarter. Fort Pitt Capital Group LLC now owns 1,050,235 shares of the scientific and technical instruments company’s stock worth $49,676,000 after buying an additional 34,245 shares in the last quarter. Institutional investors and hedge funds own 89.60% of the company’s stock.

Shares of NASDAQ:IIVI traded down $0.90 on Thursday, hitting $34.97. The stock had a trading volume of 1,274,000 shares, compared to its average volume of 794,021. II-VI has a twelve month low of $31.92 and a twelve month high of $53.08. The company has a debt-to-equity ratio of 0.50, a quick ratio of 2.45 and a current ratio of 3.63. The company has a market capitalization of $2.28 billion, a PE ratio of 20.33, a P/E/G ratio of 1.17 and a beta of 0.68.

II-VI (NASDAQ:IIVI) last issued its earnings results on Thursday, November 1st. The scientific and technical instruments company reported $0.56 EPS for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.56. The company had revenue of $314.40 million for the quarter, compared to the consensus estimate of $310.92 million. II-VI had a net margin of 7.68% and a return on equity of 10.89%. The firm’s revenue for the quarter was up 20.2% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.32 EPS. On average, analysts forecast that II-VI will post 1.8 EPS for the current year.

A number of equities analysts have recently commented on the stock. B. Riley lowered shares of II-VI from a “buy” rating to a “neutral” rating and set a $54.00 price target on the stock. in a research report on Tuesday, September 4th. Deutsche Bank initiated coverage on shares of II-VI in a research report on Monday, August 27th. They set a “buy” rating and a $58.00 target price on the stock. BidaskClub raised shares of II-VI from a “sell” rating to a “hold” rating in a research report on Thursday, August 23rd. Morgan Stanley set a $48.00 target price on shares of II-VI and gave the stock a “hold” rating in a research report on Wednesday, August 8th. Finally, Cowen reaffirmed a “buy” rating and set a $64.00 target price on shares of II-VI in a research report on Wednesday, August 8th. Two research analysts have rated the stock with a sell rating, five have assigned a hold rating and seven have assigned a buy rating to the stock. II-VI currently has an average rating of “Hold” and an average target price of $50.92.

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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