Today it was reported that a Director at II-VI Inc (NASDAQ: IIVI), Joseph Corasanti, exercised options to sell 40,120 IIVI shares at $10.90 a share, for a total transaction value of $1.8M.
Following Joseph Corasanti’s last IIVI Sell transaction on March 20, 2017, the stock climbed by 8.5%. In addition to Joseph Corasanti, 2 other IIVI executives reported Sell trades in the last month.
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Based on II-VI Inc’s latest earnings report for the quarter ending June 30, the company posted quarterly revenue of $321 million and quarterly net profit of $27.17 million. In comparison, last year the company earned revenue of $274 million and had a net profit of $32.65 million. IIVI’s market cap is $2.83B and the company has a P/E ratio of 33.77. Currently, II-VI Inc has an average volume of 533.8K.
Based on 6 analyst ratings, the analyst consensus is Strong Buy with an average price target of $54.67, reflecting a -17.2% downside.
The insider sentiment on II-VI Inc has been negative according to 44 insider trades in the past three months. This sentiment is lower than the average sentiment of company insiders in this sector.
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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.
