Insider Buying: Stanley J. Hill Buys 10,000 Shares of Intevac Stock (IVAC)
Intevac (NASDAQ:IVAC) Director Stanley J. Hill purchased 10,000 shares of Intevac stock on the open market in a transaction dated Thursday, July 31st. The shares were purchased at an average cost of $6.16 per share, for a total transaction of $61,600.00. Following the completion of the acquisition, the director now directly owns 67,000 shares of the company’s stock, valued at approximately $412,720. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.
Shares of Intevac (NASDAQ:IVAC) traded up 1.58% during mid-day trading on Monday, hitting $6.42. 263,494 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’s 50-day moving average is $7.47 and its 200-day moving average is $7.90. The company’s market cap is $151.7 million.
Intevac (NASDAQ:IVAC) last announced its earnings results on Monday, July 28th. The company reported ($0.20) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.23) by $0.03. The company had revenue of $14.70 million for the quarter, compared to the consensus estimate of $13.10 million. During the same quarter in the previous year, the company posted ($0.26) earnings per share. The company’s revenue for the quarter was down 13.4% on a year-over-year basis. On average, analysts predict that Intevac will post $-0.52 earnings per share for the current fiscal year.
A number of analysts have recently weighed in on IVAC shares. 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. Separately, 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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