II-VI (IIVI) : Bard Associates Inc reduced its stake in II-VI by 0.34% during the most recent quarter end. The investment management company now holds a total of 233,544 shares of II-VI which is valued at $4,983,829 after selling 800 shares in II-VI , the firm said in a disclosure report filed with the SEC on Aug 11, 2016.II-VI makes up approximately 2.49% of Bard Associates Inc’s portfolio.
Other Hedge Funds, Including , Hightower Advisors sold out all of its stake in IIVI during the most recent quarter. The investment firm sold 51,775 shares of IIVI which is valued $1,104,879.Blackrock Investment Management boosted its stake in IIVI in the latest quarter, The investment management firm added 39,463 additional shares and now holds a total of 261,169 shares of II-VI which is valued at $5,573,346. II-VI makes up approx 0.01% of Blackrock Investment Management’s portfolio. Nine Chapters Capital Management sold out all of its stake in IIVI during the most recent quarter. The investment firm sold 33,100 shares of IIVI which is valued $686,163.Meritage Portfolio Management reduced its stake in IIVI by selling 2,610 shares or 1.66% in the most recent quarter. The Hedge Fund company now holds 154,488 shares of IIVI which is valued at $3,051,138. II-VI makes up approx 0.33% of Meritage Portfolio Management’s portfolio.
II-VI opened for trading at $21.55 and hit $21.93 on the upside on Tuesday, eventually ending the session at $21.79, with a gain of 0.60% or 0.13 points. The heightened volatility saw the trading volume jump to 1,36,737 shares. Company has a market cap of $1,344 M.
On the company’s financial health, II-VI reported $0.40 EPS for the quarter, beating the analyst consensus estimate by $ 0.16 according to the earnings call on Aug 2, 2016. Analyst had a consensus of $0.24. The company had revenue of $231.70 million for the quarter, compared to analysts expectations of $214.13 million. The company’s revenue was up 17.8% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.27 EPS.
Many Wall Street Analysts have commented on II-VI. Shares were Reiterated by The Benchmark Company on Aug 2, 2016 to “Buy” and Lowered the Price Target to $ 23.50 from a previous price target of $25 .
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.