Intevac, Inc. (NASDAQ:IVAC) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a note issued to investors on Wednesday, November 1st.
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. “
IVAC has been the topic of a number of other reports. Noble Financial raised Intevac from a “hold” rating to a “buy” rating in a research report on Tuesday, October 31st. Roth Capital set a $14.00 price target on Intevac and gave the company a “buy” rating in a research report on Friday, July 28th. Maxim Group reissued a “buy” rating and issued a $13.00 price target on shares of Intevac in a research report on Wednesday, October 11th. Benchmark Co. reissued a “hold” rating on shares of Intevac in a research report on Tuesday, August 1st. Finally, B. Riley reissued a “buy” rating and issued a $14.00 price target on shares of Intevac in a research report on Tuesday, October 31st. One analyst has rated the stock with a sell rating, three have issued a hold rating and four have given a buy rating to the company. Intevac presently has an average rating of “Hold” and an average price target of $12.60.
Intevac (NASDAQ IVAC) traded down $0.05 during trading on Wednesday, hitting $7.55. The company’s stock had a trading volume of 166,664 shares, compared to its average volume of 173,264. The company has a market cap of $165.05, a PE ratio of 25.33 and a beta of 0.92. Intevac has a 52-week low of $6.15 and a 52-week high of $14.15.
Intevac (NASDAQ:IVAC) last issued its earnings results on Monday, October 30th. The electronics maker reported $0.04 earnings per share for the quarter. Intevac had a return on equity of 8.80% and a net margin of 5.97%. The company had revenue of $26.70 million for the quarter, compared to analyst estimates of $25.50 million. During the same period in the prior year, the firm earned ($0.02) earnings per share. Intevac’s revenue for the quarter was up 18.1% on a year-over-year basis. sell-side analysts anticipate that Intevac will post 0.11 earnings per share for the current year.
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Large investors have recently made changes to their positions in the business. State Street Corp grew its stake in shares of Intevac by 1,307.7% during the 2nd quarter. State Street Corp now owns 246,157 shares of the electronics maker’s stock worth $2,732,000 after acquiring an additional 228,670 shares during the period. OxFORD Asset Management LLP grew its stake in shares of Intevac by 835.4% during the 2nd quarter. OxFORD Asset Management LLP now owns 217,312 shares of the electronics maker’s stock worth $2,412,000 after acquiring an additional 194,081 shares during the period. Renaissance Technologies LLC grew its stake in shares of Intevac by 36.2% during the 1st quarter. Renaissance Technologies LLC now owns 510,485 shares of the electronics maker’s stock worth $6,381,000 after acquiring an additional 135,632 shares during the period. Goldman Sachs Group Inc. bought a new position in shares of Intevac during the 1st quarter worth $1,337,000. Finally, Algert Global LLC grew its stake in shares of Intevac by 65.6% during the 3rd quarter. Algert Global LLC now owns 248,552 shares of the electronics maker’s stock worth $2,100,000 after acquiring an additional 98,468 shares during the period. Hedge funds and other institutional investors own 68.41% 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 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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