Intevac (IVAC) Posts Quarterly Earnings, Beats Estimates By $0.03 EPS
Intevac (NASDAQ:IVAC) issued its quarterly earnings data on Monday. The company reported ($0.20) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.23) by $0.03, American Banking News reports. The company had revenue of $14.70 million for the quarter, compared to the consensus estimate of $13.10 million.
Intevac (NASDAQ:IVAC) traded down 6.33% during mid-day trading on Monday, hitting $6.66. 369,584 shares of the company’s stock traded hands. Intevac has a 52-week low of $4.82 and a 52-week high of $10.20. The stock has a 50-day moving average of $7.64 and a 200-day moving average of $7.97. The company’s market cap is $159.2 million.
IVAC has been the subject of a number of recent research reports. Analysts at Zacks downgraded shares of Intevac from an “outperform” rating to a “neutral” rating in a research note on Tuesday, July 1st. They now have a $8.90 price target on the stock. On a related note, analysts at Needham & Company LLC downgraded shares of Intevac from a “buy” rating to a “hold” rating in a research note on Thursday, May 15th. Finally, analysts at Needham & Company LLC downgraded shares of Intevac from a “buy” rating to a “hold” rating in a research note on Wednesday, May 7th.
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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