Zacks Investment Research cut shares of Intevac (NASDAQ:IVAC) from a hold rating to a sell rating in a research note issued to investors on Friday.

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. “

A number of other research firms also recently issued reports on IVAC. Benchmark reaffirmed a hold rating on shares of Intevac in a research report on Tuesday, October 31st. Maxim Group reissued a buy rating and set a $13.00 price target on shares of Intevac in a research report on Wednesday, October 11th. Noble Financial raised Intevac from a hold rating to a buy rating in a research report on Tuesday, October 31st. Finally, B. Riley reissued a buy rating and set a $14.00 price target on shares of Intevac in a research report on Tuesday, October 31st. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and four have given a buy rating to the stock. The stock has an average rating of Hold and a consensus price target of $12.60.

Intevac (NASDAQ IVAC) traded up $0.05 during trading hours on Friday, hitting $6.85. The company had a trading volume of 124,600 shares, compared to its average volume of 170,318. The firm has a market capitalization of $143.26, a P/E ratio of 22.83 and a beta of 0.85. Intevac has a twelve month low of $6.40 and a twelve month high of $14.15.

Intevac (NASDAQ:IVAC) last released its earnings results on Monday, October 30th. The electronics maker reported $0.04 earnings per share (EPS) for the quarter. The business had revenue of $26.70 million for the quarter, compared to the consensus estimate of $25.50 million. Intevac had a return on equity of 8.80% and a net margin of 5.97%. Intevac’s quarterly revenue was up 18.1% on a year-over-year basis. During the same quarter in the previous year, the business earned ($0.02) earnings per share. equities analysts anticipate that Intevac will post 0.12 EPS for the current fiscal year.

Hedge funds and other institutional investors have recently made changes to their positions in the business. Royce & Associates LP grew its position in shares of Intevac by 3.3% in the third quarter. Royce & Associates LP now owns 1,402,775 shares of the electronics maker’s stock valued at $11,853,000 after purchasing an additional 44,854 shares during the last quarter. Dimensional Fund Advisors LP grew its position in shares of Intevac by 4.7% in the third quarter. Dimensional Fund Advisors LP now owns 869,615 shares of the electronics maker’s stock valued at $7,348,000 after purchasing an additional 38,859 shares during the last quarter. Vanguard Group Inc. grew its position in shares of Intevac by 4.9% in the second quarter. Vanguard Group Inc. now owns 868,575 shares of the electronics maker’s stock valued at $9,641,000 after purchasing an additional 40,865 shares during the last quarter. Algert Global LLC grew its position in shares of Intevac by 65.6% in the third quarter. Algert Global LLC now owns 248,552 shares of the electronics maker’s stock valued at $2,100,000 after purchasing an additional 98,468 shares during the last quarter. Finally, State Street Corp grew its position in shares of Intevac by 1,307.7% in the second quarter. State Street Corp now owns 246,157 shares of the electronics maker’s stock valued at $2,732,000 after purchasing an additional 228,670 shares during the last quarter. 70.23% of the stock is currently owned by hedge funds and other institutional investors.

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About Intevac

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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