II-VI Inc Gets a Buy Rating from Needham

By Carrie Williams

In a report released today, James Ricchiuti from Needham reiterated a Buy rating on II-VI Inc (NASDAQ: IIVI), with a price target of $40. The company’s shares closed yesterday at $33.25.

According to TipRanks.com, Ricchiuti is a 5-star analyst with an average return of 13.9% and a 63.0% success rate. Ricchiuti covers the Consumer Goods sector, focusing on stocks such as Teledyne Technologies Inc, Electronics for Imaging, and Samsung Electronics.

II-VI Inc has an analyst consensus of Moderate Buy, with a price target consensus of $40.

II-VI Inc’s market cap is currently $2.1B and has a P/E ratio of 27.48. The company has a book value ratio of 2.4587.

Based on the recent corporate insider activity of 35 insiders, corporate insider sentiment is negative on the stock. Most recently, in March 2017, Francis Kramer, the Chairman & CEO of IIVI sold 30,000 shares for a total of $1,140,000.

TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.

II-VI, Inc. engages in the development, refinement, manufacturing, and marketing of engineered materials and opto-electronic components and products for precision in the field of industrial, optical communications, military, semiconductor, medical and life science applications. It operates through the following segments: Laser Solutions. Photonics, and Performance Products. The Laser Solutions segment supply a range of precision infrared opto-electronic components such as lenses, output couplers, windows and scan-lenses for carbon dioxide lasers. The Photonics segment manufactures laser gain materials, optics, optical components and optical module assemblies for optical communications, laser systems, and photonic applications in the medical, life science, industrial, scientific and research and development industry. The Performance Products segment provides optics, and optical sub-assemblies for visible, and infrared systems including thermal imaging, night vision, laser designation, missile warning, targeting and navigation systems such as missile domes, electro-optical windows, and sub-assemblies, imaging lenses, ultra violet filter assemblies, laser cavity optics, and prisms and other optical components. The company was founded Carl J. Johnson in 1971 and is headquartered in 1971 and is headquartered in Saxonburg, PA.