Intevac (NASDAQ:IVAC) was downgraded by equities research analysts at ValuEngine from a “hold” rating to a “sell” rating in a research note issued on Thursday.

Several other equities analysts have also commented on the stock. Maxim Group reaffirmed a “buy” rating and issued a $12.00 price objective on shares of Intevac in a research report on Thursday, February 1st. B. Riley reaffirmed a “buy” rating and issued a $11.50 price objective (down from $14.00) on shares of Intevac in a research report on Thursday, February 1st. Noble Financial reaffirmed a “buy” rating on shares of Intevac in a research report on Thursday, January 18th. Zacks Investment Research raised shares of Intevac from a “sell” rating to a “hold” rating in a research report on Wednesday, January 3rd. Finally, Benchmark reaffirmed a “hold” rating on shares of Intevac in a research report on Tuesday, October 31st. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and four have assigned a buy rating to the stock. Intevac presently has a consensus rating of “Hold” and a consensus target price of $12.10.

Intevac (IVAC) traded down $0.10 during mid-day trading on Thursday, hitting $6.25. 110,501 shares of the company’s stock traded hands, compared to its average volume of 101,163. The stock has a market capitalization of $139.05, a price-to-earnings ratio of 34.72 and a beta of 0.90. Intevac has a 1-year low of $6.16 and a 1-year high of $14.15.

Intevac (NASDAQ:IVAC) last released its quarterly earnings results on Wednesday, January 31st. The electronics maker reported $0.00 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.01) by $0.01. The business had revenue of $24.80 million during the quarter, compared to analyst estimates of $24.80 million. Intevac had a net margin of 3.65% and a return on equity of 4.89%. The company’s quarterly revenue was down 14.5% on a year-over-year basis. During the same period in the prior year, the firm posted $0.13 earnings per share. sell-side analysts forecast that Intevac will post 0.22 earnings per share for the current fiscal year.

In related news, major shareholder April Fund Ltd. 21 acquired 45,908 shares of the firm’s stock in a transaction that occurred on Friday, February 2nd. The stock was purchased at an average cost of $6.56 per share, with a total value of $301,156.48. The purchase was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders purchased a total of 220,423 shares of company stock valued at $1,448,164 over the last ninety days. 13.90% of the stock is currently owned by insiders.

A number of large investors have recently modified their holdings of IVAC. Schwab Charles Investment Management Inc. acquired a new position in Intevac in the 2nd quarter worth approximately $363,000. Rhumbline Advisers acquired a new position in Intevac in the 2nd quarter worth approximately $225,000. Bank of New York Mellon Corp increased its holdings in Intevac by 234.9% in the 2nd quarter. Bank of New York Mellon Corp now owns 56,761 shares of the electronics maker’s stock worth $630,000 after buying an additional 39,814 shares during the period. Teachers Advisors LLC acquired a new position in Intevac in the 2nd quarter worth approximately $382,000. Finally, TIAA CREF Investment Management LLC acquired a new position in Intevac in the 2nd quarter worth approximately $577,000. Institutional investors own 70.00% of the company’s stock.

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Intevac Company Profile

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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Analyst Recommendations for Intevac (NASDAQ:IVAC)

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