Intevac Downgraded by Needham & Company LLC to “Hold” (IVAC)
Intevac (NASDAQ:IVAC) was downgraded by research analysts at Needham & Company LLC from a “buy” rating to a “hold” rating in a report released on Tuesday, Analyst Ratings Network reports.
A number of other analysts have also recently weighed in on IVAC. Analysts at Zacks upgraded shares of Intevac from an “underperform” rating to a “neutral” rating in a research note on Tuesday, April 1st. They now have a $9.90 price target on the stock. Separately, analysts at B. Riley initiated coverage on shares of Intevac in a research note on Wednesday, February 26th. They set a “neutral” rating and a $7.50 price target on the stock.
Shares of Intevac (NASDAQ:IVAC) traded down 5.41% during mid-day trading on Tuesday, hitting $7.87. The stock had a trading volume of 92,913 shares. Intevac has a 52 week low of $4.29 and a 52 week high of $10.20. The stock has a 50-day moving average of $8.80 and a 200-day moving average of $7.42. The company’s market cap is $188.2 million.
Intevac (NASDAQ:IVAC) last posted its quarterly earnings results on Monday, April 28th. The company reported ($0.18) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.20) by $0.02. The company had revenue of $17.00 million for the quarter, compared to the consensus estimate of $16.83 million. During the same quarter in the previous year, the company posted ($0.32) earnings per share. The company’s revenue for the quarter was up 30.8% on a year-over-year basis. On average, analysts predict that Intevac will post $-0.47 earnings per share for the current fiscal year.
Intevac, Inc (NASDAQ:IVAC) provides process manufacturing equipment solutions to the hard disk drive industry and manufacturing equipment and inspection solutions to the photovoltaic (PV) industry.
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