Intevac, Inc. (NASDAQ:IVAC) Receives Average Rating of “Hold” from Analysts
Intevac, Inc. (NASDAQ:IVAC) has been assigned an average recommendation of “Hold” from the seven analysts that are currently covering the firm, Marketbeat Ratings reports. Five analysts have rated the stock with a hold recommendation and two have given a buy recommendation to the company. The average 12-month price objective among brokers that have updated their coverage on the stock in the last year is $14.33.
Several analysts recently issued reports on the stock. BidaskClub raised shares of Intevac from a “sell” rating to a “hold” rating in a report on Wednesday, July 12th. Zacks Investment Research downgraded shares of Intevac from a “strong-buy” rating to a “hold” rating in a report on Wednesday, July 5th. B. Riley reaffirmed a “buy” rating and set a $16.00 price objective on shares of Intevac in a report on Sunday, May 7th. Benchmark Co. reaffirmed a “hold” rating and set a $12.00 price objective (up from $10.00) on shares of Intevac in a report on Tuesday, May 2nd. Finally, Maxim Group reaffirmed a “buy” rating and set a $15.00 price objective on shares of Intevac in a report on Tuesday, May 2nd.
Intevac (IVAC) traded down 2.11% during midday trading on Monday, reaching $11.60. 86,683 shares of the company traded hands. The stock has a market capitalization of $248.60 million, a price-to-earnings ratio of 351.52 and a beta of 1.01. The firm has a 50 day moving average of $12.73 and a 200-day moving average of $11.03. Intevac has a 12 month low of $5.60 and a 12 month high of $14.15.
Intevac (NASDAQ:IVAC) last posted its quarterly earnings data on Monday, May 1st. The electronics maker reported $0.08 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.05 by $0.03. The business had revenue of $30.40 million during the quarter, compared to the consensus estimate of $28.58 million. Intevac had a net margin of 0.72% and a return on equity of 0.91%. Intevac’s quarterly revenue was up 123.5% compared to the same quarter last year. During the same period in the prior year, the firm earned ($0.31) EPS. Analysts forecast that Intevac will post $0.10 EPS for the current fiscal year.
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In related news, major shareholder April Fund Ltd. 21 sold 338,857 shares of the company’s stock in a transaction on Tuesday, April 25th. The shares were sold at an average price of $13.44, for a total transaction of $4,554,238.08. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Over the last quarter, insiders have sold 593,644 shares of company stock valued at $7,880,569. Corporate insiders own 13.90% of the company’s stock.
A number of institutional investors have recently added to or reduced their stakes in IVAC. Dimensional Fund Advisors LP boosted its position in Intevac by 1.0% in the fourth quarter. Dimensional Fund Advisors LP now owns 840,967 shares of the electronics maker’s stock valued at $7,190,000 after buying an additional 8,069 shares during the last quarter. Renaissance Technologies LLC boosted its position in shares of Intevac by 36.2% in the first quarter. Renaissance Technologies LLC now owns 510,485 shares of the electronics maker’s stock worth $6,381,000 after buying an additional 135,632 shares in the last quarter. Essex Investment Management Co. LLC boosted its position in shares of Intevac by 31.9% in the first quarter. Essex Investment Management Co. LLC now owns 150,851 shares of the electronics maker’s stock worth $1,886,000 after buying an additional 36,471 shares in the last quarter. EAM Investors LLC boosted its position in shares of Intevac by 96.5% in the first quarter. EAM Investors LLC now owns 141,063 shares of the electronics maker’s stock worth $1,763,000 after buying an additional 69,268 shares in the last quarter. Finally, Geode Capital Management LLC boosted its position in shares of Intevac by 14.5% in the first quarter. Geode Capital Management LLC now owns 127,558 shares of the electronics maker’s stock worth $1,593,000 after buying an additional 16,151 shares in the last quarter. Hedge funds and other institutional investors own 66.09% of the company’s stock.
Intevac, Inc (Intevac) is a provider of vacuum deposition equipment for a range of thin-film applications, and digital night-vision technologies and products to the defense industry. The Company’s segments include Thin-film Equipment and Photonics. The Company designs, manufactures, markets and services capital equipment used to deposit thin films and lubricants onto substrates to produce magnetic disks that are used in hard disk drives.
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