Published on 27 Jun 2022 on Zacks via Yahoo Finance

II-VI (IIVI) Surges 5.6%: Is This an Indication of Further Gains?

II-VI (IIVI) shares ended the last trading session 5.6% higher at $55.72. The jump came on an impressive volume with a higher-than-average number of shares changing hands in the session. This compares to the stock's 9.4% loss over the past four weeks.

II-VI Incorporated’s rally is primarily driven by bullishness surrounding the company’s progress in its datacom networking business unit. An uptrend in the semiconductor capital equipment, communications and industrial end markets coupled with a solid backlog level, augurs well for the company.

This Laser and optics manufacturer is expected to post quarterly earnings of $0.95 per share in its upcoming report, which represents a year-over-year change of +8%. Revenues are expected to be $861.6 million, up 6.6% from the year-ago quarter.