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Needham lowers II-VI target but sees long-term growth potential [Seeking Alpha]

II-VI (IIVI)  More Company Research Source: Seeking Alpha
Last ii-vi earnings: 5/1 06:55 am Check Earnings Report
US:NASDAQ Investor Relations: ii-vi.com/investor/investors.html
PDF Needham lowers II-VI target but sees long-term growth potentialNeedham lowers its II-VI (NASDAQ:IIVI) price target from $56 to $50 after the earnings report.Firm notes a “number of puts-and-takes” in the quarter including weaker 3D sensing revenue, significantly higher operating expenses, and the higher tax rate.Needham still thinks II-I has a diverse portfolio and notes that bookings were strong across the main three business segments.Needham reduces what was an aggressive EPS estimate to reflect slower 3D sensing ramp but thinks II-VI will grow during the next several years.Source: Briefing.com.II-VI shares areup 4.2% to $43.08.Previously:II-VI reports mixed Q3 and guidance (May 1)See all stocks on the move »Now read:Piper Jaffrey lowers Stratasys target to 4% downside » [Read more]

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