II-VI (IIVI) reported quarterly earnings results on Tuesday, Apr-26-2016. The company said it had a profit of $0.35 Earnings per Share for the quarter. The results exceeded Wall Street expectations beating the analyst consensus estimate by $0.07. Analysts had a consensus of $0.28. The company posted revenue of $200.90 million in the period, compared to analysts expectations of $192.78 million. The company’s revenue was up 10.0% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.23 EPS.
Many Wall Street Analysts have commented on II-VI. II-VI was Initiated by Sidoti to “Buy” on Apr 21, 2016. Company shares were Reiterated by Needham on Mar 22, 2016 to “Buy”, Firm has raised the Price Target to $ 23 from a previous price target of $22 .
II-VI closed down -0.15 points or -0.68% at $21.9 with 4,48,922 shares getting traded on Friday. Post opening the session at $22, the shares hit an intraday low of $21.61 and an intraday high of $22.4 and the price fluctuated in this range throughout the day.Shares ended Friday session in Red.
In a different news, on Mar 30, 2016, Wendy F Dicicco (director) sold 2,000 shares at $21.16 per share price. According to the SEC, on Mar 24, 2016, Marc Y E Pelaez (director) sold 13,400 shares at $21.14 per share price. On Dec 3, 2015, Peter W Sognefest (director) sold 7,900 shares at $18.62 per share price, according to the Form-4 filing with the securities and exchange commission.
II-VI Incorporated develops manufactures and markets engineered materials and opto-electronic components and products for precision use in industrial optical communications military semiconductor medical and life science and consumer applications. The Company has three segments: II-VI Laser Solutions II-VI Photonics and II-VI Performance Products. Its II-VI Laser Solutions segment designs manufactures and markets optical and electro-optical components and materials sold under the II-VI Infrared brand and used in carbon dioxide (CO2) lasers. Its II-VI Photonics segment manufactures crystal materials optics microchip lasers and opto-electronic modules for use in optical communication networks and other consumer and commercial applications. Its II-VI Performance Products segment designs manufactures and markets infrared optical components and optical assemblies for military medical and commercial laser imaging applications.