In a report released today, James Ricchiuti from Needham reiterated a Buy rating on II-VI (IIVI), with a price target of $43.00. The company’s shares closed last Monday at $35.37.
According to TipRanks.com, Ricchiuti is a 5-star analyst with an average return of 15.9% and a 63.5% success rate. Ricchiuti covers the Consumer Goods sector, focusing on stocks such as SolarEdge Technologies, Benchmark Electronics, and Teledyne Technologies.
The word on The Street in general, suggests a Moderate Buy analyst consensus rating for II-VI with a $39.00 average price target, representing an 11.9% upside. In a report released today, Piper Sandler also reiterated a Buy rating on the stock.
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Based on II-VI’s latest earnings release for the quarter ending September 30, the company reported a quarterly GAAP net loss of $26 million. In comparison, last year the company had a net profit of $28.7 million.
Based on the recent corporate insider activity of 51 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of IIVI in relation to earlier this year.
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II-VI, Inc. engages in the development, refinement, manufacturing, and marketing of engineered materials and opto-electronic components and devices for precision in the field of industrial materials processing, optical communications, aerospace and defense, consumer electronics, semiconductor capital equipment, life sciences, and automotive applications and m
