In the last trading session, 3,016,836 shares of the II-VI Incorporated (NASDAQ:IIVI) were traded, and its beta was 1.55. Most recently the company’s share price was $75.47, and it changed around $0.21 or 0% from the last close, which brings the market valuation of the company to $7.91 Billion. IIVI currently trades at a discount to its 52-week high of $100.44, offering almost -33.09% off that amount. The share price’s 52-week low was $26.55, which indicates that the current value has risen by an impressive 64.82% since then. We note from II-VI Incorporated’s average daily trading volume that its 10-day average is 2.31 Million shares, with the 3-month average coming to 2Million.
II-VI Incorporated stock received a consensus recommendation rating of Overweight, based on a mean score of 2.1. If we narrow it down even further, the data shows that none out of 16 analysts rate the stock as a Sell; another but none rate it as Overweight. Among the rest, 4 recommended IIVI as a Hold, whereas 12 deemed it a Buy, and no one rated it as Underweight. II-VI Incorporated is expected to report earnings per share of $0.88 for the current quarter.
II-VI Incorporated (NASDAQ:IIVI): Trading Information
Instantly IIVI has showed a green trend with a performance of 0.28% at the end of last trading. The performance over the last five days has remained in the green territory. The rise to weekly highs of $76.09 on Tuesday, Apr 06 increased the stock’s daily price by 0.81%. The company’s shares are currently down -0.01% year-to-date, but still up 0.13 over the last five days. On the other hand, II-VI Incorporated (NASDAQ:IIVI) is 0.01% up in the 30-day period. We can see from the shorts that 12.01 Million shares have been sold at a short interest cover period of 6.01 day (s).
The consensus price target as assigned by Wall Street analysts is $105.53, which translates to bears needing to increase their stock price by 39.83% from its current value. Analyst projections state that IIVI is forecast to be at a low of $60 and a high of $125. In order for the stock price to hit the forecast high, the stock would need to surge +65.63% from its current level, while the stock would need to crash -20.5% from its current level to reach the projected low.
II-VI Incorporated (IIVI) projections and forecasts
II-VI Incorporated share prices are performing particularly well compared to other companies within the same industry. As is evident from the statistics, the company’s shares have risen +80.81 percent over the past six months and at a 27.37% annual growth rate that is well above the industry average of 20.6%. Moreover, analysts have decided to roll up on their fiscal year 2021 revenue estimates. The rating firms predict that it will gain +87.2% in revenue this quarter, and will report a decline of -22.9% in the next quarter. The year-over-year growth rate is expected to be 29.6%, up from the previous year.
Consensus estimates provided by 16 financial analysts predict the company will bring in an average of $772.27 Million in revenue for the current quarter. 16 analysts expect II-VI Incorporated to make $798.76 Million in revenue for the quarter ending June 01, 2021. The company’s sales for the same quarters a year ago were $627.04 Million and $746.29 Million respectively. Analysts predict that the company’s current quarter sales will jump, forecast at 23.2%. Forecasts for the next quarter put sales growth at 7%.
Looking at the company’s year-over-year earnings, the past five years showed a negative earnings growth rate of -22.4%. II-VI Incorporated earnings are expected to decrease by -148.4% in 2021, but the outlook is positive 24.39% per year for the next five years.
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II-VI Incorporated (NASDAQ:IIVI)’s Biggest Investors
Upon looking at major shareholders, it appears that insiders hold 1.56% of II-VI Incorporated shares, and 98.14% of them are in the hands of institutional investors. The stock currently has a share float of 99.7%. II-VI Incorporated stock is held by 516 institutions, with Wellington Management Group, LLP being the largest institutional investor. By Dec 30, 2020, it held 11.62% of the shares, which is about 12.17 Million shares worth $924.81 Million.
Blackrock Inc., with 11.34% or 11.88 Million shares worth $902.67 Million as of Dec 30, 2020, holds the second largest percentage of outstanding shares.
Hartford Mid Cap Fund and Vanguard Total Stock Market Index Fund were the top two Mutual Funds as of Jan 30, 2021. The former held 4319854 shares worth $363.17 Million, making up 4.12% of all outstanding shares. On the other hand, Vanguard Total Stock Market Index Fund held roughly 2.93 Million shares worth around $222.47 Million, which represents about 2.8% of the total shares outstanding.