Algert Global buys $1,834,030 stake in II-VI (IIVI)

II-VI (IIVI) : Algert Global scooped up 26,041 additional shares in II-VI during the most recent quarter end , the firm said in a disclosure report filed with the SEC on Oct 12, 2016. The investment management firm now holds a total of 71,782 shares of II-VI which is valued at $1,834,030.II-VI makes up approximately 0.54% of Algert Global’s portfolio.

Other Hedge Funds, Including , Capstone Asset Management Co boosted its stake in IIVI in the latest quarter, The investment management firm added 100 additional shares and now holds a total of 24,069 shares of II-VI which is valued at $614,963. II-VI makes up approx 0.02% of Capstone Asset Management Co’s portfolio.Cupps Capital Management reduced its stake in IIVI by selling 5,973 shares or 7.59% in the most recent quarter. The Hedge Fund company now holds 72,677 shares of IIVI which is valued at $1,875,067. II-VI makes up approx 0.81% of Cupps Capital Management’s portfolio. Gradient Investments sold out all of its stake in IIVI during the most recent quarter. The investment firm sold 100 shares of IIVI which is valued $2,580.Cutler Group Lp boosted its stake in IIVI in the latest quarter, The investment management firm added 19,541 additional shares and now holds a total of 20,193 shares of II-VI which is valued at $520,979. II-VI makes up approx 0.03% of Cutler Group Lp’s portfolio.Bnp Paribas Arbitrage Sa reduced its stake in IIVI by selling 8,132 shares or 44.37% in the most recent quarter. The Hedge Fund company now holds 10,196 shares of IIVI which is valued at $256,633.

II-VI closed down -0.25 points or -0.97% at $25.55 with 3,01,745 shares getting traded on Tuesday. Post opening the session at $25.5, the shares hit an intraday low of $25.3 and an intraday high of $25.75 and the price fluctuated in this range throughout the day.Shares ended Tuesday session in Red.

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.

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