Intevac (NASDAQ:IVAC) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research report issued on Wednesday.
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 several other reports. Maxim Group reiterated a “buy” rating and set a $12.00 target price on shares of Intevac in a research report on Friday, October 27th. B. Riley reissued a “buy” rating and set a $14.00 price target on shares of Intevac in a report on Tuesday, October 31st. Noble Financial raised shares of Intevac from a “hold” rating to a “buy” rating in a report on Tuesday, October 31st. Finally, Benchmark reissued a “hold” rating on shares of Intevac in a report on Tuesday, October 31st. Three equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. The stock currently has an average rating of “Buy” and an average price target of $12.60.
Shares of Intevac (NASDAQ IVAC) traded up $0.35 during trading on Wednesday, hitting $6.85. 141,300 shares of the stock traded hands, compared to its average volume of 111,467. Intevac has a 1-year low of $6.20 and a 1-year high of $14.15. The firm has a market cap of $148.17, a price-to-earnings ratio of 21.41 and a beta of 0.85.
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 net margin of 5.97% and a return on equity of 8.80%. The business had revenue of $26.70 million for the quarter, compared to analyst estimates of $25.50 million. During the same period in the previous year, the business earned ($0.02) EPS. The firm’s revenue was up 18.1% on a year-over-year basis. equities research analysts anticipate that Intevac will post 0.12 EPS for the current year.
Hedge funds have recently made changes to their positions in the stock. D.A. Davidson & CO. bought a new position in Intevac during the 2nd quarter valued at about $117,000. Nationwide Fund Advisors lifted its holdings in Intevac by 695.2% during the 2nd quarter. Nationwide Fund Advisors now owns 12,350 shares of the electronics maker’s stock valued at $137,000 after purchasing an additional 10,797 shares during the last quarter. Cubist Systematic Strategies LLC bought a new position in Intevac during the 2nd quarter valued at about $191,000. The Manufacturers Life Insurance Company lifted its holdings in Intevac by 1,393.9% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 17,568 shares of the electronics maker’s stock valued at $195,000 after purchasing an additional 16,392 shares during the last quarter. Finally, Rhumbline Advisers bought a new position in Intevac during the 2nd quarter valued at about $225,000. 70.10% of the stock is owned by hedge funds and other institutional investors.
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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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