Shares of Intevac, Inc. (NASDAQ:IVAC) have received a consensus rating of “Buy” from the seven analysts that are presently covering the company. One equities research analyst has rated the stock with a hold recommendation, five have given a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12 month price target among brokerages that have updated their coverage on the stock in the last year is $7.00.
Several research firms have weighed in on IVAC. Zacks Investment Research raised shares of Intevac from a “hold” rating to a “buy” rating and set a $6.50 price target for the company in a research note on Tuesday, July 5th. B. Riley reissued a “neutral” rating and issued a $6.50 price target on shares of Intevac in a research note on Tuesday, August 2nd. Finally, Benchmark Co. upgraded shares of Intevac from a “hold” rating to a “buy” rating and boosted their price objective for the company from $5.50 to $6.50 in a research report on Wednesday, June 8th.
In other news, Director Matthew A. Drapkin acquired 175,000 shares of the firm’s stock in a transaction on Tuesday, August 9th. The shares were purchased at an average price of $6.09 per share, for a total transaction of $1,065,750.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 13.90% of the stock is currently owned by company insiders.
Several institutional investors have recently added to or reduced their stakes in the stock. Bridgeway Capital Management Inc. boosted its position in shares of Intevac by 86.3% in the second quarter. Bridgeway Capital Management Inc. now owns 107,933 shares of the company’s stock valued at $613,000 after buying an additional 50,000 shares in the last quarter. Royce & Associates LP boosted its position in shares of Intevac by 4.9% in the second quarter. Royce & Associates LP now owns 2,114,840 shares of the company’s stock valued at $12,012,000 after buying an additional 99,600 shares in the last quarter. Teton Advisors Inc. boosted its position in shares of Intevac by 28.3% in the second quarter. Teton Advisors Inc. now owns 232,030 shares of the company’s stock valued at $1,318,000 after buying an additional 51,161 shares in the last quarter. Finally, Renaissance Technologies LLC boosted its position in shares of Intevac by 17.4% in the first quarter. Renaissance Technologies LLC now owns 218,100 shares of the company’s stock valued at $981,000 after buying an additional 32,400 shares in the last quarter. Hedge funds and other institutional investors own 73.53% of the company’s stock.
Intevac (NASDAQ:IVAC) opened at 6.09 on Tuesday. The company’s market cap is $127.42 million. The company has a 50-day moving average of $6.01 and a 200 day moving average of $5.31. Intevac has a 12 month low of $3.99 and a 12 month high of $6.60.
Intevac (NASDAQ:IVAC) last posted its quarterly earnings results on Monday, August 1st. The company reported ($0.17) earnings per share for the quarter, topping the consensus estimate of ($0.28) by $0.11. The business earned $14.90 million during the quarter, compared to the consensus estimate of $14.20 million. Intevac had a negative net margin of 25.36% and a negative return on equity of 21.55%. The firm’s revenue for the quarter was down 27.3% on a year-over-year basis. During the same period in the previous year, the firm posted ($0.01) earnings per share. On average, equities analysts forecast that Intevac will post ($0.43) earnings per share for the current fiscal year.
Intevac Company Profile
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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