Intevac Lowered to “Hold” at Needham & Company LLC (IVAC)
Intevac (NASDAQ:IVAC) was downgraded by Needham & Company LLC from a “buy” rating to a “hold” rating in a research note issued on Thursday, StockRatingsNetwork.com reports.
Intevac (NASDAQ:IVAC) traded up 1.13% during mid-day trading on Thursday, hitting $7.17. The stock had a trading volume of 48,128 shares. Intevac has a 52 week low of $4.46 and a 52 week high of $10.20. The stock’s 50-day moving average is $8.45 and its 200-day moving average is $7.59. The company’s market cap is $171.4 million.
Intevac (NASDAQ:IVAC) last issued its quarterly earnings data on Monday, April 28th. The company reported ($0.18) earnings per share for the quarter, beating the analysts’ 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 last year, the company posted ($0.32) earnings per share. Intevac’s revenue was up 30.8% compared to the same quarter last year. On average, analysts predict that Intevac will post $-0.46 earnings per share for the current fiscal year.
In other Intevac news, Director Matthew A. Drapkin purchased 11,454 shares of the company’s stock in a transaction dated Friday, May 16th. The shares were purchased at an average cost of $7.02 per share, for a total transaction of $80,407.08. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.
A number of other firms have also recently commented 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. 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.
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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