Price Action Report: II-VI, Inc.’s Trend Up, Especially After Today’s 52-Week High Milestone

Price Action Report: II VI, Inc.'s Trend Up, Especially After Today's 52 Week High Milestone

The stock of II-VI, Inc. (NASDAQ:IIVI) hit a new 52-week high and has $33.33 target or 7.00% above today’s $31.15 share price. The 8 months bullish chart indicates low risk for the $1.95 billion company. The 1-year high was reported on Nov, 28 by Barchart.com. If the $33.33 price target is reached, the company will be worth $136.50M 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 128,333 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 $16.28 million 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. The firm earned “Buy” rating on Tuesday, August 4 by Sidoti. The company was maintained on Monday, October 24 by Needham. B. Riley & Co upgraded the shares of IIVI in a report on Wednesday, October 26 to “Buy” rating. The firm has “Buy” rating given on Tuesday, October 25 by Benchmark. The company was downgraded on Saturday, August 15 by TheStreet. 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 1.02 in 2016 Q2. Its down 0.01, from 1.03 in 2016Q1. The ratio worsened, 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.
Bahl Gaynor Inc holds 140,282 shares or 0.03% of its portfolio. Huntington Retail Bank accumulated 0% or 392 shares. Deutsche Financial Bank Ag has 0% invested in the company for 356,518 shares. Shufro Rose And Communication Ltd has invested 0.8% of its portfolio in II-VI, Inc. (NASDAQ:IIVI). Fmr Ltd Com, a Massachusetts-based fund reported 62,860 shares. Moreover, Vanguard Grp Incorporated has 0% invested in II-VI, Inc. (NASDAQ:IIVI) for 4.22M shares. Pnc Fin Serv Grp Inc Inc has invested 0% of its portfolio in II-VI, Inc. (NASDAQ:IIVI). Teacher Retirement System Of Texas last reported 7,699 shares in the company. Thrivent Fincl For Lutherans has 0% invested in the company for 25,820 shares. First Interstate Bank & Trust holds 200 shares or 0% of its portfolio. Old Natl Fincl Bank In owns 19,441 shares or 0.02% of their US portfolio. Ls Investment Advsrs Ltd Com last reported 1,829 shares in the company. Kcg Hldg Inc last reported 13,078 shares in the company. Teachers accumulated 0.02% or 685,896 shares. The New York-based Springbok Mgmt has invested 0.01% in II-VI, Inc. (NASDAQ:IIVI).

Insider Transactions: Since June 7, 2016, the stock had 1 insider buy, and 5 insider sales for $1.13 million net activity. 3,696 shares with value of $80,092 were bought by Xia Howard H. on Saturday, August 20. 4,310 shares with value of $92,881 were sold by MISTLER THOMAS E on Saturday, August 20. $89,200 worth of II-VI, Inc. (NASDAQ:IIVI) was sold by DICICCO WENDY F. The insider CORASANTI JOSEPH J sold $689,353. 11,000 II-VI, Inc. (NASDAQ:IIVI) shares with value of $220,125 were sold by MATTERA VINCENT D JR.

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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