II-VI (IIVI) : Rodgers Brothers reduced its stake in II-VI by 0.98% during the most recent quarter end. The investment management company now holds a total of 786,253 shares of II-VI which is valued at $16,778,639 after selling 7,800 shares in II-VI , the firm said in a disclosure report filed with the SEC on Aug 15, 2016.II-VI makes up approximately 6.86% of Rodgers Brothers’s portfolio.
Other Hedge Funds, Including , Two Sigma Investments Lp boosted its stake in IIVI in the latest quarter, The investment management firm added 31,850 additional shares and now holds a total of 236,126 shares of II-VI which is valued at $5,038,929. II-VI makes up approx 0.02% of Two Sigma Investments Lp’s portfolio.United Services Automobile Association reduced its stake in IIVI by selling 26,600 shares or 8.03% in the most recent quarter. The Hedge Fund company now holds 304,500 shares of IIVI which is valued at $6,498,030. II-VI makes up approx 0.02% of United Services Automobile Association’s portfolio.Comerica Bank reduced its stake in IIVI by selling 549 shares or 1.03% in the most recent quarter. The Hedge Fund company now holds 52,922 shares of IIVI which is valued at $1,129,355. II-VI makes up approx 0.01% of Comerica Bank’s portfolio.
II-VI opened for trading at $21.24 and hit $21.42 on the upside on Thursday, eventually ending the session at $21.41, with a gain of 1.04% or 0.22 points. The heightened volatility saw the trading volume jump to 1,29,150 shares. Company has a market cap of $1,341 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.