Needham & Company Reiterates a 'Buy' on II-VI, Inc. (IIVI); Accretive Acquisition Of Aegis Expands IIVI's Presence In Telecom & Industrial Markets
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Price: $41.95 --0%
Rating Summary:
17 Buy, 6 Hold, 1 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
Rating Summary:
17 Buy, 6 Hold, 1 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
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Needham & Company reiterates a 'Buy' on II-VI, Inc. (NASDAQ: IIVI), PT $33.
Needham analyst says, "IIVI prior to the market open yesterday announced the acquisition of Aegis Lightwave, which manufactures optical channel monitors for the telecommunications market and fused fiber components for telecom and industrial applications. Aegis is expected to increase IIVI's F12 revenues by around 5-6% and add ~$0.03-0.04 to full-year EPS. The acquisition appears to be a good fit for IIVI and should be complementary to the company's successful acquisition in 2008 of Photop. IIV will report FQ4 results on August 2nd, but with the company last month having reiterated prior Q4 guidance and provided solid in-line guidance for F12, there should be little in the way of drama in upcoming EPS release...We are increasing our F12 EPS estimate to $1.50 from $1.46."
For more ratings news on II-VI, Inc. click here and for the rating history of II-VI, Inc. click here.
Shares of II-VI, Inc. closed at $26.69 yesterday.
Needham analyst says, "IIVI prior to the market open yesterday announced the acquisition of Aegis Lightwave, which manufactures optical channel monitors for the telecommunications market and fused fiber components for telecom and industrial applications. Aegis is expected to increase IIVI's F12 revenues by around 5-6% and add ~$0.03-0.04 to full-year EPS. The acquisition appears to be a good fit for IIVI and should be complementary to the company's successful acquisition in 2008 of Photop. IIV will report FQ4 results on August 2nd, but with the company last month having reiterated prior Q4 guidance and provided solid in-line guidance for F12, there should be little in the way of drama in upcoming EPS release...We are increasing our F12 EPS estimate to $1.50 from $1.46."
For more ratings news on II-VI, Inc. click here and for the rating history of II-VI, Inc. click here.
Shares of II-VI, Inc. closed at $26.69 yesterday.
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