Intevac Inc. (IVAC) Reaches New 1-Year High at $6.20
Intevac Inc. (NASDAQ:IVAC) shares reached a new 52-week high during trading on Thursday . The company traded as high as $6.20 and last traded at $6.10, with a volume of 85,027 shares. The stock had previously closed at $5.72.
A number of research analysts recently commented on IVAC shares. Zacks Investment Research cut Intevac from a “buy” rating to a “hold” rating in a report on Wednesday, July 6th. B. Riley reissued a “neutral” rating and issued a $5.25 price target on shares of Intevac in a report on Sunday, May 8th. Benchmark Co. raised Intevac from a “hold” rating to a “buy” rating and boosted their price target for the stock from $5.50 to $6.50 in a report on Wednesday, June 8th. Finally, Maxim Group raised Intevac from a “hold” rating to a “buy” rating in a report on Tuesday, May 3rd. Two research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. The stock has an average rating of “Buy” and an average target price of $6.75.
The stock’s market cap is $121.83 million. The stock has a 50 day moving average price of $5.50 and a 200-day moving average price of $4.81.
Intevac (NASDAQ:IVAC) last announced its quarterly earnings data on Monday, May 2nd. The company reported ($0.31) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.37) by $0.06. The firm earned $13.66 million during the quarter, compared to analyst estimates of $11.64 million. During the same period in the prior year, the company posted ($0.12) earnings per share. The firm’s revenue for the quarter was down 31.3% on a year-over-year basis. On average, analysts expect that Intevac Inc. will post ($0.48) earnings per share for the current year.
In related news, Director Matthew A. Drapkin bought 38,820 shares of the company’s stock in a transaction that occurred on Friday, June 10th. The shares were purchased at an average cost of $5.33 per share, with a total value of $206,910.60. Following the completion of the acquisition, the director now directly owns 7,000 shares in the company, valued at $37,310. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website.
An institutional investor recently raised its position in Intevac stock. Royce & Associates LLC increased its stake in Intevac Inc. (NASDAQ:IVAC) by 2.6% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,822,880 shares of the company’s stock after buying an additional 46,360 shares during the period. Royce & Associates LLC owned 8.68% of Intevac worth $8,586,000 at the end of the most recent reporting period.
Intevac, Inc (Intevac) is a provider of vacuum deposition equipment for a range of thin-film applications, and a provider of digital night-vision technologies and products to the defense industry. The Company’s segments include Thin-film Equipment and Photonics. Intevac is engaged in the design and development of thin-film processing systems.
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