II-VI Inc Receives a Buy from Needham

By Ryan Adsit

In a report released today, James Ricchiuti from Needham reiterated a Buy rating on II-VI Inc (NASDAQ: IIVI), with a price target of $56. The company’s shares closed on Friday at $47.15, close to its 52-week high of $47.20.

According to TipRanks.com, Ricchiuti is a 5-star analyst with an average return of 15.4% and a 64.9% success rate. Ricchiuti covers the Consumer Goods sector, focusing on stocks such as Teledyne Technologies Inc, Electronics for Imaging, and Samsung Electronics.

Currently, the analyst consensus on II-VI Inc is Strong Buy and the average price target is $51.50, representing a 9.2% upside.

In a report issued on October 30, Northland Securities also reiterated a Buy rating on the stock with a $51 price target.

II-VI Inc’s market cap is currently $2.93B and has a P/E ratio of 30.62. The company has a book value ratio of 3.1064.

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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.