According to Zacks, “Intevac, Inc. is a leading supplier of static sputtering systems and related manufacturing equipment used to manufacture thin-film disks for computer hard disk drives. Sputtering is a complex vacuum deposition process used to deposit multiple thin-film layers on a disk. The company’s primary objective is to be the industry leader in supplying disk sputtering equipment by providing disk sputtering systems which have both the highest overall performance and the lowest cost of ownership in the industry. “
IVAC has been the subject of a number of other research reports. B. Riley reissued a neutral rating and issued a $6.50 price objective on shares of Intevac in a research report on Tuesday, August 2nd. Benchmark Co. raised Intevac from a hold rating to a buy rating and raised their price objective for the stock from $5.50 to $6.50 in a research report on Wednesday, June 8th. One analyst has rated the stock with a hold rating and six have given a buy rating to the company’s stock. Intevac presently has a consensus rating of Buy and a consensus price target of $7.05.
Intevac (NASDAQ:IVAC) opened at 6.13 on Wednesday. The stock has a 50 day moving average price of $6.00 and a 200-day moving average price of $5.43. The company’s market cap is $128.26 million. Intevac has a 1-year low of $3.99 and a 1-year high of $6.60.
Intevac (NASDAQ:IVAC) last posted its quarterly earnings data on Monday, August 1st. The company reported ($0.17) earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.28) by $0.11. The firm earned $14.90 million during the quarter, compared to analysts’ expectations of $14.20 million. Intevac had a negative return on equity of 21.55% and a negative net margin of 25.36%. The business’s quarterly revenue was down 27.3% on a year-over-year basis. During the same quarter last year, the firm earned ($0.01) EPS. On average, equities research analysts forecast that Intevac will post ($0.43) EPS for the current year.
In related news, Director Matthew A. Drapkin acquired 175,000 shares of Intevac stock in a transaction on Tuesday, August 9th. The stock was acquired at an average price of $6.09 per share, for a total transaction of $1,065,750.00. The acquisition was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 13.90% of the stock is owned by corporate insiders.
Several institutional investors have recently added to or reduced their stakes in the stock. Royce & Associates LP raised its position in Intevac by 10.6% in the first quarter. Royce & Associates LP now owns 2,015,240 shares of the company’s stock worth $9,069,000 after buying an additional 192,360 shares during the last quarter. Teton Advisors Inc. raised its position in Intevac by 28.3% in the second quarter. Teton Advisors Inc. now owns 232,030 shares of the company’s stock worth $1,318,000 after buying an additional 51,161 shares during the last quarter. Bridgeway Capital Management Inc. raised its position in Intevac by 86.3% in the second quarter. Bridgeway Capital Management Inc. now owns 107,933 shares of the company’s stock worth $613,000 after buying an additional 50,000 shares during the last quarter. Finally, Renaissance Technologies LLC raised its position in Intevac by 17.4% in the first quarter. Renaissance Technologies LLC now owns 218,100 shares of the company’s stock worth $981,000 after buying an additional 32,400 shares during the last quarter. Institutional investors and hedge funds own 73.53% of the company’s stock.
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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