$0.01 Earnings Per Share Expected for Intevac, Inc. (IVAC) This Quarter
Brokerages expect that Intevac, Inc. (NASDAQ:IVAC) will announce earnings of $0.01 per share for the current quarter, Zacks Investment Research reports. Three analysts have provided estimates for Intevac’s earnings. The highest EPS estimate is $0.04 and the lowest is $0.00. Intevac reported earnings per share of ($0.02) in the same quarter last year, which suggests a positive year-over-year growth rate of 150%. The firm is expected to announce its next quarterly earnings results on Tuesday, November 7th.
According to Zacks, analysts expect that Intevac will report full-year earnings of $0.13 per share for the current year, with EPS estimates ranging from $0.13 to $0.14. For the next year, analysts anticipate that the firm will report earnings of $0.40 per share, with EPS estimates ranging from $0.20 to $0.51. Zacks’ EPS calculations are a mean average based on a survey of sell-side research firms that follow Intevac.
Intevac (NASDAQ:IVAC) last issued its quarterly earnings data on Monday, July 31st. The electronics maker reported $0.05 earnings per share for the quarter. The firm had revenue of $31 million for the quarter, compared to analyst estimates of $28.76 million. Intevac had a net margin of 3.55% and a return on equity of 5.70%. The company’s revenue for the quarter was up 108.1% on a year-over-year basis. During the same quarter last year, the firm earned ($0.18) earnings per share.
Several equities research analysts have commented on the company. BidaskClub upgraded Intevac from a “sell” rating to a “hold” rating in a research note on Wednesday, July 12th. Roth Capital set a $14.00 target price on Intevac and gave the company a “buy” rating in a research note on Friday, July 28th. Maxim Group restated a “buy” rating and issued a $15.00 target price on shares of Intevac in a research note on Tuesday, May 2nd. Zacks Investment Research cut Intevac from a “buy” rating to a “hold” rating in a research note on Tuesday, July 18th. Finally, B. Riley reiterated a “buy” rating and set a $16.00 price objective on shares of Intevac in a research note on Tuesday, August 1st. Four investment analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. Intevac presently has an average rating of “Buy” and a consensus target price of $13.60.
A number of hedge funds and other institutional investors have recently modified their holdings of IVAC. Dimensional Fund Advisors LP raised its position in shares of Intevac by 1.0% in the fourth quarter. Dimensional Fund Advisors LP now owns 840,967 shares of the electronics maker’s stock worth $7,190,000 after buying an additional 8,069 shares in the last quarter. Navellier & Associates Inc purchased a new position in shares of Intevac during the first quarter worth approximately $310,000. Acadian Asset Management LLC purchased a new position in shares of Intevac during the first quarter worth approximately $127,000. Russell Investments Group Ltd. raised its position in shares of Intevac by 1,164.3% in the first quarter. Russell Investments Group Ltd. now owns 29,004 shares of the electronics maker’s stock worth $363,000 after buying an additional 26,710 shares in the last quarter. Finally, Essex Investment Management Co. LLC raised its position in shares of Intevac by 31.9% in the first quarter. Essex Investment Management Co. LLC now owns 150,851 shares of the electronics maker’s stock worth $1,886,000 after buying an additional 36,471 shares in the last quarter. 62.72% of the stock is currently owned by hedge funds and other institutional investors.
Shares of Intevac (NASDAQ:IVAC) traded down 1.10% during trading on Friday, reaching $9.00. 50,247 shares of the company traded hands. The stock’s 50 day moving average price is $10.77 and its 200-day moving average price is $11.66. The stock has a market cap of $196.04 million, a P/E ratio of 36.44 and a beta of 1.02. Intevac has a 12 month low of $5.60 and a 12 month high of $14.15.
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Intevac, Inc (Intevac) is a provider of vacuum deposition equipment for a range of thin-film applications, and digital night-vision technologies and products to the defense industry. The Company’s segments include Thin-film Equipment and Photonics. The Company designs, manufactures, markets and services capital equipment used to deposit thin films and lubricants onto substrates to produce magnetic disks that are used in hard disk drives.
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