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II-VI (IIVI) Receives a Buy from Needham

Needham analyst James Ricchiuti maintained a Buy rating on II-VI (IIVIResearch Report) today and set a price target of $84.00. The company’s shares closed last Monday at $63.05.

According to TipRanks.com, Ricchiuti is a top 100 analyst with an average return of 23.3% and a 60.6% success rate. Ricchiuti covers the Technology sector, focusing on stocks such as Teledyne Technologies, Benchmark Electronics, and TTM Technologies.

II-VI has an analyst consensus of Moderate Buy, with a price target consensus of $83.67.

See the top stocks recommended by analysts >>

II-VI’s market cap is currently $6.69B and has a P/E ratio of 25.39.

Based on the recent corporate insider activity of 49 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. Most recently, in November 2021, Joseph Corasanti, a Director at IIVI sold 8,620 shares for a total of $558,231.

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 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 markets. It operates through the following three segments: Laser Solutions, Photonics, and Performance Products. The Laser Solutions segment designs, manufactures, and markets optical and electro-optical components and materials sold under the II-VI Infrared brand name. The Photonics segment manufactures crystal materials, optics, microchip lasers, and optoelectronic modules for use in optical communications networks and other diverse consumer, life sciences, and commercial applications. The Performance Products segment designs, manufactures, and markets infrared optical components and high-precision optical assemblies for aerospace and defense, medical, and commercial laser imaging applications. The company was founded Carl J. Johnson in 1971 and is headquartered in 1971 and is headquartered in Saxonburg, PA.

Read More on IIVI:

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