II-VI, Inc. (IIVI) may not be a household name but it is a stock you may want to keep an eye on. The shares are hitting a new all-time high after some upbeat comments. A look to the sentiment profile shows this could be a rally with some longer-term legs.

According to the company's website, they make everything from "amber-colored lenses that focus intense laser light, to radiation detectors for nationwide security and nuclear medicine, to high power electrical and microwave components." And while I can't tell you how you are supposed to pronounce their name, I can tell you that few on the Street seemed to be expecting a pop. Here are 3 points to support that statement.

1. Data from Zacks shows that only 3 analysts even follow the company and only 1 of those ranks the stock with a "buy" rating.
2. Data collected by our Quantified Analysis group shows that nearly 10% of the stock's float is sold short.
3. A look to the open interest configuration shows that overall open interest is light and there is next to nothing in the way overhead calls.

In other words, the stock has received little attention and what it has received has tended to be on the skeptical side. With today's gap on good news, that situation has the potential to change. The weekly chart below shows the shares are breaking above their recent highs near 40. The stock is nearing a short-term overbought condition but those former peaks should now be expected to serve as support for the longer-term uptrend.

Chart Courtesy of Thomson Financial