Intevac Inc. (IVAC) Lifted to “Hold” at TheStreet
Intevac Inc. (NASDAQ:IVAC) was upgraded by stock analysts at TheStreet from a “sell” rating to a “hold” rating in a research note issued on Wednesday.
A number of other equities analysts also recently issued reports on IVAC. B. Riley reiterated a “neutral” rating and issued a $6.50 price target on shares of Intevac in a report on Tuesday, August 2nd. Zacks Investment Research upgraded shares of Intevac from a “hold” rating to a “strong-buy” rating and set a $6.50 price target for the company in a report on Thursday, August 4th. Finally, Benchmark Co. set a $7.00 price target on shares of Intevac and gave the company a “buy” rating in a report on Wednesday, November 2nd. Three investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and a consensus price target of $7.15.
Shares of Intevac (NASDAQ:IVAC) remained flat at $6.50 during trading on Wednesday. The stock had a trading volume of 10,292 shares. The company has a 50 day moving average price of $5.98 and a 200 day moving average price of $5.75. The stock’s market capitalization is $136.04 million. Intevac has a 12 month low of $3.99 and a 12 month high of $6.67.
Intevac (NASDAQ:IVAC) last announced its quarterly earnings results on Tuesday, November 1st. The company reported ($0.02) earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($0.07) by $0.05. The business earned $22.56 million during the quarter, compared to the consensus estimate of $21.88 million. Intevac had a negative net margin of 18.95% and a negative return on equity of 17.85%. The business’s revenue was up 22.5% compared to the same quarter last year. During the same quarter last year, the firm posted ($0.18) EPS. On average, equities research analysts forecast that Intevac will post ($0.43) EPS for the current year.
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Several institutional investors have recently made changes to their positions in IVAC. Teton Advisors Inc. increased 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 worth $1,318,000 after buying an additional 51,161 shares in the last quarter. Royce & Associates LP increased 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 worth $12,012,000 after buying an additional 99,600 shares in the last quarter. Finally, Bridgeway Capital Management Inc. increased 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 worth $613,000 after buying an additional 50,000 shares in the last quarter. Institutional investors and hedge funds own 73.37% of the company’s stock.
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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