In a report released today, Paul Silverstein from Cowen & Co. reiterated a Buy rating on II-VI Inc (NASDAQ: IIVI), with a price target of $64. The company’s shares closed yesterday at $45.40.
According to TipRanks.com, Silverstein is a 5-star analyst with an average return of 30.0% and a 65.5% success rate. Silverstein covers the Consumer Goods sector, focusing on stocks such as Ribbon Communications Inc, Applied Optoelectronics, and Acacia Communications.
II-VI Inc has an analyst consensus of Strong Buy, with a price target consensus of $52.80, a 16.3% upside from current levels. In a report issued on August 2, B.Riley FBR also maintained a Buy rating on the stock with a $49 price target.
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Based on II-VI Inc’s latest earnings release for the quarter ending June 30, the company reported a quarterly net profit of $27.17 million. In comparison, last year the company had a net profit of $32.65 million.
Based on the recent corporate insider activity of 43 insiders, corporate insider sentiment is negative on the stock.
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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.