Shares of Intevac, Inc. (NASDAQ:IVAC) hit a new 52-week low during mid-day trading on Thursday . The company traded as low as $4.48 and last traded at $4.53, with a volume of 2250 shares traded. The stock had previously closed at $4.56.

A number of analysts recently issued reports on the stock. ValuEngine upgraded shares of Intevac from a “sell” rating to a “hold” rating in a research report on Wednesday, August 8th. Zacks Investment Research upgraded shares of Intevac from a “sell” rating to a “hold” rating in a report on Wednesday, June 20th. B. Riley decreased their price target on shares of Intevac from $6.50 to $5.00 and set a “neutral” rating on the stock in a report on Tuesday, July 31st. Benchmark upgraded shares of Intevac from a “hold” rating to a “buy” rating and set a $6.00 price target on the stock in a report on Tuesday, July 31st. Finally, Noble Financial reiterated a “hold” rating on shares of Intevac in a report on Tuesday, July 31st. One analyst has rated the stock with a sell rating, four have issued a hold rating and one has issued a buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus price target of $5.83.

The firm has a market cap of $117.43 million, a price-to-earnings ratio of 27.94 and a beta of 0.90.

Intevac (NASDAQ:IVAC) last announced its quarterly earnings results on Monday, July 30th. The electronics maker reported ($0.01) earnings per share for the quarter, beating the Zacks’ consensus estimate of ($0.12) by $0.11. The company had revenue of $26.10 million for the quarter, compared to analyst estimates of $24.75 million. Intevac had a negative net margin of 4.30% and a negative return on equity of 5.40%. During the same quarter last year, the business earned $0.05 EPS. On average, research analysts expect that Intevac, Inc. will post -0.25 earnings per share for the current year.

Intevac declared that its Board of Directors has authorized a share buyback plan on Monday, August 20th that authorizes the company to repurchase $10.00 million in outstanding shares. This repurchase authorization authorizes the electronics maker to buy up to 8.8% of its stock through open market purchases. Stock repurchase plans are generally an indication that the company’s leadership believes its shares are undervalued.

Several institutional investors and hedge funds have recently made changes to their positions in IVAC. Dimensional Fund Advisors LP boosted its holdings in shares of Intevac by 24.5% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,231,623 shares of the electronics maker’s stock valued at $5,973,000 after purchasing an additional 242,655 shares during the last quarter. Millennium Management LLC acquired a new position in shares of Intevac in the 2nd quarter valued at $728,000. Paloma Partners Management Co acquired a new position in shares of Intevac in the 2nd quarter valued at $472,000. GSA Capital Partners LLP boosted its holdings in shares of Intevac by 145.2% in the 1st quarter. GSA Capital Partners LLP now owns 129,434 shares of the electronics maker’s stock valued at $893,000 after purchasing an additional 76,640 shares during the last quarter. Finally, LMR Partners LLP acquired a new position in shares of Intevac during the 2nd quarter valued at $275,000. Institutional investors own 63.22% of the company’s stock.

About Intevac (NASDAQ:IVAC)

Intevac, Inc provides vacuum deposition equipment for various thin-film applications, and digital night-vision technologies and products to the defense industry in the United States, Asia, Europe, and internationally. It operates in two segments, Thin-Film Equipment and Photonics. The Thin-film Equipment segment designs, manufactures, markets, and services disk sputtering, etch and deposition, and disk lubrication systems; and offers upgrades, spares, and consumables, as well as provides process and applications support, customer training, installation, start-up assistance, and post-installation support services.

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