During the last session, II-VI Incorporated (NASDAQ:IIVI)’s traded shares were 0.75 million, with the beta value of the company hitting 1.49. At the end of the trading day, the stock’s price was $61.49, reflecting an intraday loss of -0.65% or -$0.4. The 52-week high for the IIVI share is $100.44, that puts it down -63.34 from that peak though still a striking 41.39% gain since the share price plummeted to a 52-week low of $36.04. The company’s market capitalization is $6.24B, and the average intraday trading volume over the past 10 days was 1.2 million shares, and the average trade volume was 1.30 million shares over the past three months.
II-VI Incorporated (IIVI) received a consensus recommendation of an Overweight from analysts. That translates to a mean rating of 2.30. IIVI has a Sell rating from 0 analyst(s) out of 19 analysts who have looked at this stock. 8 analyst(s) recommend to Hold the stock while 0 suggest Overweight, and 11 recommend a Buy rating for it. 0 analyst(s) has rated the stock Underweight. Company’s earnings per share (EPS) for the current quarter are expected to be $0.76.
II-VI Incorporated (NASDAQ:IIVI) trade information
II-VI Incorporated (IIVI) registered a -0.65% downside in the last session and has traded in the red over the past 5 sessions. The stock plummet -0.65% in intraday trading to $61.49 this Friday, 09/03/21, hitting a weekly high. The stock’s 5-day price performance is -3.32%, and it has moved by -11.14% in 30 days. Based on these gigs, the overall price performance for the year is 56.70%. The short interest in II-VI Incorporated (NASDAQ:IIVI) is 17.4 million shares and it means that shorts have 12.82 day(s) to cover.
The consensus price target of analysts on Wall Street is $83.31, which implies an increase of 26.19% to the stock’s current value. The extremes of the forecast give a target low and a target high price of $65.00 and $118.00 respectively. As a result, IIVI is trading at a discount of -91.9% off the target high and -5.71% off the low.
II-VI Incorporated (IIVI) estimates and forecasts
Statistics show that II-VI Incorporated has underperformed its competitors in share price, compared to the industry in which it operates. II-VI Incorporated (IIVI) shares have gone down -14.20% during the last six months, with a year-to-date growth rate less than the industry average at -1.34% against 21.40. Yet analysts are ramping up their growth forecast for the fiscal year 2021. Revenue is predicted to shrink -35.60% this quarter and then drop -1.20% in the quarter after that. In the rating firms’ projections, revenue will increase 30.50% compared to the previous financial year.
Revenue for the current quarter is expected to be $808.01 million as predicted by 16 analyst(s). Meanwhile, a consensus of 16 analyst(s) estimates revenue growth to $808.82 million by the end of Sep 2021.
An analysis of the company’s performance over the past 5 years shows that the company’s earnings shrunk an estimated -22.40%. While earnings are projected to return -148.40% in 2021, the next five years will return 9.60% per annum.
II-VI Incorporated is due to release its next quarterly earnings between November 03 and November 08. However, it is important to remember that the dividend yield ratio is merely an indicator meant to only serve as guidance.
II-VI Incorporated (NASDAQ:IIVI)’s Major holders
II-VI Incorporated insiders own 1.55% of total outstanding shares while institutional holders control 94.74%, with the float percentage being 96.24%. Blackrock Inc. is the largest shareholder of the company, while 573 institutions own stock in it. As of Mar 30, 2021, the company held over 12.56 million shares (or 11.98% of all shares), a total value of $858.73 million in shares.
The next largest institutional holding, with 12.14 million shares, is of Wellington Management Group, LLP’s that is approximately 11.57% of outstanding shares. At the market price on Mar 30, 2021, these shares were valued at $829.99 million.
Also, the Mutual Funds coming in first place with the largest holdings of II-VI Incorporated (IIVI) shares are Hartford Mid Cap Fund and Vanguard Total Stock Market Index Fund. Data provided on Apr 29, 2021 indicates that Hartford Mid Cap Fund owns about 4.56 million shares. This amounts to just over 4.34 percent of the company’s overall shares, with a $305.83 million market value. The same data shows that the other fund manager holds slightly less at 2.94 million, or about 2.81% of the stock, which is worth about $201.34 million.