Ii-Vi (IIVI)

II-VI Incorporated, a global leader in engineered materials and optoelectronic components, is a vertically integrated manufacturing company that develops innovative products for diversified applications in communications, materials processing, aerospace & defense, semiconductor capital equipment, life sciences, consumer electronics, and automotive markets. Headquartered in Saxonburg, Pennsylvania, U.S.A., the Company has research and development, manufacturing, sales, service, and distribution facilities worldwide. The Company produces a wide variety of application-specific photonic and electronic materials and components, and deploys them in various forms, including integrated with advanced software to support its customers.

Company profile

Ticker

IIVI, COHR, IIVIP

Exchange

NASDAQ

Website

www.ii-vi.com

CEO

Vincent Mattera

Incorporated

Pennsylvania

Location

Pennsylvania

Fiscal year end

Jun 30

Sector

Manufacturing > Optical Instrument and Lens Manufacturing

Industry (SIC)

Optical Instruments & Lenses

KLA • Camtek • Nova • Perceptron • Cyberoptics • Optex Systems • ScoutCam ...

SEC CIK

0000820318

Corporate docs

Articles of Incorporation & Bylaws

Underwriting Agreements

Plans of Reorganization

Indentures

Material Contracts & Credit Agreements

Subsidiaries Lists

Subsidiaries

Finisar Corporation • Finisar Wuxi, Inc. • II-VI Delaware, Inc. • II-VI Holdings B.V. • II-VI Laser Enterprise GmbH • Photop Technologies, Inc. ...

IRS number

251214948

IIVI stock data

1M 1Y 5Y

News

From Benzinga Pro

What 5 Analyst Ratings Have To Say About II-VI

25 Jul 22

Over the past 3 months, 5 analysts have published their opinion on II-VI (NASDAQ:IIVI) stock. These analysts are typically employed by large Wall Street banks and tasked with understanding a company's business to predict how a stock will trade over the upcoming year.

Barclays Maintains Underweight on II-VI, Lowers Price Target to $47

25 Jul 22

Barclays analyst Tom O'Malley maintains II-VI (NASDAQ:IIVI) with a Underweight and lowers the price target from $65 to $47.

Stocks That Hit 52-Week Lows On Wednesday

13 Jul 22

During Wednesday's session, 326 stocks hit new 52-week lows.

Stocks That Hit 52-Week Lows On Tuesday

5 Jul 22

Raymond James Maintains Outperform on II-VI, Lowers Price Target to $81

5 Jul 22

Press releases

From Benzinga Pro

II-VI Incorporated to Host FY 2022 Fourth-Quarter Conference Call

10 Aug 22

PITTSBURGH, Aug. 10, 2022 (GLOBE NEWSWIRE) -- II-VI Incorporated (NASDAQ:IIVI), a global leader in engineered materials and optoelectronic components, announced today that the Company will hold a conference call on

II-VI Incorporated and Artilux Demonstrate a 3D Camera for Enhanced User Experience in the Metaverse

18 Jul 22

PITTSBURGH and HSINCHU, Taiwan, July 18, 2022 (GLOBE NEWSWIRE) -- II‐VI Incorporated (NASDAQ:IIVI), a leader in semiconductor lasers, and Artilux, a leader in germanium silicon (GeSi) photonics and CMOS SWIR sensing

II-VI Incorporated Completes the Acquisition of Coherent, Forming a Global Leader in Materials, Networking, and Lasers

1 Jul 22

PITTSBURGH and SANTA CLARA, Calif., July 01, 2022 (GLOBE NEWSWIRE) -- II‐VI Incorporated (NASDAQ:IIVI) today successfully completed the acquisition of Coherent, Inc. (NASDAQ:COHR), forming a global leader in materials,

Omnicell, Southwestern Energy and Ormat Technologies Set to Join S&P MidCap 400; Others to Join S&P SmallCap 600

28 Jun 22

II-VI Incorporated Obtains All Governmental Regulatory Approvals to Complete Acquisition of Coherent, Inc. and Sets Expected Closing Date

28 Jun 22

Analyst ratings and price targets

Last 3 months

Average target

$70.75

Low target

$47.00

High target

$81.00

Investment data

Data from SEC filings

Securities sold

Number of investors

Calendar

10 May 22

12 Aug 22

30 Jun 23

Financial summary

Financial statements Chart IIVI financial data

Quarter (USD)	Mar 22	Dec 21	Sep 21	Jun 21
Revenue
Cost of revenue
Operating income
Operating margin
Net income
Net profit margin
Cash on hand
Change in cash
Diluted EPS

Annual (USD)	Jun 21	Jun 20	Jun 19	Jun 18
Revenue
Cost of revenue
Operating income
Operating margin
Net income
Net profit margin
Cash on hand
Change in cash
Diluted EPS

Cash burn rate (est.)	Burn method: Change in cash		Burn method: Operating income		Burn method: FCF (opex + capex)
	Last Q	Avg 4Q	Last Q	Avg 4Q	Last Q	Avg 4Q
Cash on hand (at last report)	2.6B	2.6B	2.6B	2.6B	2.6B	2.6B
Cash burn (monthly)	16.47M	(no burn)	(no burn)	(no burn)	(no burn)	(no burn)
Cash used (since last report)	72.44M	n/a	n/a	n/a	n/a	n/a
Cash remaining	2.53B	n/a	n/a	n/a	n/a	n/a
Runway (months of cash)	153.5	n/a	n/a	n/a	n/a	n/a

Beta Read what these cash burn values mean

Financial data from Ii-Vi earnings reports.

Recent insider trades

IIVI insider ownership history Insider history

Date	Owner	Security	Transaction	Code	Indirect	10b5-1	#Shares	#Remaining
19 Jul 22	Mattera Vincent D JR	Common Stock	Payment of exercise	Dispose F	No	No	41,101	565,613
19 Jul 22	Mattera Vincent D JR	Common Stock	Grant	Acquire A	No	No	104,448	606,714
19 Jul 22	Bashaw Walter Robert Ii	Common Stock	Payment of exercise	Dispose F	No	No	9,092	102,111
19 Jul 22	Bashaw Walter Robert Ii	Common Stock	Grant	Acquire A	No	No	27,518	111,203
19 Jul 22	Raymond Mary Jane	Common Stock	Payment of exercise	Dispose F	No	No	13,205	168,430
19 Jul 22	Raymond Mary Jane	Common Stock	Grant	Acquire A	No	No	30,368	181,635
19 Jul 22	Giovanni Barbarossa	Common Stock	Payment of exercise	Dispose F	No	No	14,321	187,629
19 Jul 22	Giovanni Barbarossa	Common Stock	Grant	Acquire A	No	No	28,884	201,950
19 Jul 22	Koeppen Christopher	Common Stock	Payment of exercise	Dispose F	No	No	3,740	53,985
19 Jul 22	Koeppen Christopher	Common Stock	Grant	Acquire A	No	No	13,130	57,725

Data from 3, 4 and 5 filings. Values as filed, not updated for current price.

Institutional ownership, Q1 2022

IIVI institutional ownership history Ownership history

13F holders	Current	Prev Q	Change
Total holders	454	458	-0.9%
Opened positions	55	94	-41.5%
Closed positions	59	45	+31.1%
Increased positions	159	162	-1.9%
Reduced positions	142	118	+20.3%

13F shares	Current	Prev Q	Change
Total value	8.11B	7.39B	+9.8%
Total shares	111.32M	107.71M	+3.4%
Total puts	3M	2.81M	+6.7%
Total calls	1.55M	935.7K	+65.9%
Total put/call ratio	1.9	3.0	-35.7%

Largest owners	Shares	Value	Change
Wellington Management	11.97M	$867.94M	-5.6%
BLK Blackrock	11.82M	$856.79M	+4.3%
Vanguard	10.35M	$749.93M	-0.0%
Dodge & Cox	6.72M	$487.28M	+141.6%
MCQEF Macquarie	4.48M	$325.1M	+2.0%
ATAC Neuberger Berman	3.49M	$252.68M	+28.2%
STT State Street	3.35M	$242.51M	+3.9%
Pictet Asset Management	3.22M	$233.18M	-11.1%
FMR	2.89M	$209.84M	-15.5%
American Century Companies	2.62M	$189.65M	-5.2%

Largest transactions	Shares	Bought/sold	Change
Dodge & Cox	6.72M	+3.94M	+141.6%
Whale Rock Capital Management	1.76M	+1.76M	NEW
GS Goldman Sachs	1.75M	-823.27K	-32.0%
ATAC Neuberger Berman	3.49M	+765.69K	+28.2%
Frontier Capital Management	1.33M	-718.48K	-35.2%
Wellington Management	11.97M	-706.35K	-5.6%
Lord, Abbett & Co.	640.76K	+640.76K	NEW
Norges Bank	0	-583.05K	EXIT
Fred Alger Management	573.87K	+573.87K	NEW
Tairen Capital	0	-553.19K	EXIT

Data from 13F filings, for the last complete 13F reporting period. For most recent data, click the ownership history button. Values as filed, not updated for current price. Long positions only.

Financial report summary

Competition

Coherent • Sumitomo Electric Industries • Koninklijke Philips • Sony • Idex • Wolfspeed • MKS Instruments • Broadcom • Finisar • nLIGHT

Management Discussion

The Company aligns its organizational structure into the following two reporting segments for the purpose of making operational decisions and assessing financial performance: (i) Compound Semiconductors and (ii) Photonic Solutions. The Company is reporting financial information (revenue and operating income) for these reporting segments in this Annual Report on Form 10-K.
Revenues. Revenues for the year ended June 30, 2021 increased 30% to $3,106 million, compared to $2,380 million for the prior fiscal year. Revenue for 2021 was a record with growth across all end markets compared to the same period last fiscal year. Communications, our largest vertical, grew 30% compared to the same period last year. This growth was due to a full year of Finisar revenue, strong demand across transceivers, including 200/400G products, as well as other optical communications products. The strong demand for our 3D sensing products drove 118% growth in revenue for Consumer Electronics. Life Sciences grew 65%, driven by demand for our filters, optics and thermo-electric coolers for COVID-19 related PCR testing and sequencing instrumentation. Our Industrial business grew 11% compared to the same period last year, due to strong growth in both "CO 2" and one micron laser components.
Gross margin. Gross margin for the year ended June 30, 2021 was $1,216 million, or 39%, of total revenues, compared to $820 million, or 34% of total revenues, for the same period last fiscal year. Gross margin as a percentage of revenues increased 470 basis points compared to the prior fiscal year. Gross margin was negatively impacted in the prior year by the effects of purchase accounting on inventory, an increased value of $87.7 million related to the fair value adjustment of the acquired Finisar inventory.

Content analysis

Positive
Negative
Uncertain
Constraining
Legalese
Litigous
Readability	Coll freshman Bad

New words: California, cap, extension, February, floating, logistical, mirror, monthly, predictable, promulgated, slightly, Switzerland

Removed: began, deployed, disinfection, distancing, face, feasible, focusing, health, heightening, hygiene, light, onset, Organization, outbreak, protecting, protection, social, support, understand, world

From filing 10-Q 2022 Q3

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