Even at all-time highs, I like the outlook for II-VI (IIVI) shares. On the back of top-line growth led by its vertically integrated manufacturing capabilities across a range of promising end-markets such as optical and wireless communication, industrial lasers, and EUV lithography, IIVI looks well-positioned for the future. Additionally, the stock should also benefit from margin expansion as the company continues to pay down its debt load and unlock synergies. Net-net, I think IIVI shares are still reasonably priced at the current c. 0.9x PEG multiple.
An Exceedingly Positive Q3 Report
Earnings came