Intevac Inc. (IVAC) Position Maintained by First Eagle Investment Management LLC
First Eagle Investment Management LLC held its stake in Intevac Inc. (NASDAQ:IVAC) during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 4,825,881 shares of the company’s stock at the end of the third quarter. First Eagle Investment Management LLC owned 23.06% of Intevac worth $28,473,000 at the end of the most recent reporting period.
Other hedge funds have also recently added to or reduced their stakes in the company. Bridgeway Capital Management Inc. raised 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. Royce & Associates LP raised 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, Teton Advisors Inc. raised 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. 72.98% of the stock is currently owned by institutional investors and hedge funds.
Shares of Intevac Inc. (NASDAQ:IVAC) traded down 2.2787% on Tuesday, hitting $6.2053. 2,300 shares of the company’s stock traded hands. Intevac Inc. has a 1-year low of $3.99 and a 1-year high of $6.67. The firm’s 50-day moving average price is $5.98 and its 200 day moving average price is $5.78. The company’s market cap is $129.88 million.
Intevac (NASDAQ:IVAC) last issued its quarterly earnings data 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 company earned $22.56 million during the quarter, compared to analysts’ expectations of $21.88 million. Intevac had a negative return on equity of 17.85% and a negative net margin of 18.95%. The business’s revenue was up 22.5% on a year-over-year basis. During the same period last year, the business earned ($0.18) earnings per share. On average, equities research analysts expect that Intevac Inc. will post ($0.43) earnings per share for the current year.
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IVAC has been the subject of a number of recent analyst reports. B. Riley reiterated a “neutral” rating and issued a $6.50 target price on shares of Intevac in a research 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 objective for the company in a research report on Thursday, August 4th. Benchmark Co. set a $7.00 price objective on shares of Intevac and gave the company a “buy” rating in a research report on Wednesday, November 2nd. Finally, TheStreet upgraded shares of Intevac from a “sell” rating to a “hold” rating in a research report on Wednesday, November 23rd. Three analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. The company has an average rating of “Buy” and an average price target of $7.15.
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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