Intevac Director Acquires $3,087,124 in Stock (IVAC)
Intevac (NASDAQ:IVAC) Director Matthew A. Drapkin bought 486,928 shares of the company’s stock on the open market in a transaction dated Monday, August 4th. The stock was purchased at an average price of $6.34 per share, for a total transaction of $3,087,123.52. The acquisition was disclosed in a filing with the SEC, which can be accessed through this link.
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 1-year low of $4.82 and a 1-year high of $10.20. The stock’s 50-day moving average is $7.42 and its 200-day moving average is $7.88. The company’s market cap is $151.7 million.
Intevac (NASDAQ:IVAC) last issued its quarterly earnings data on Monday, July 28th. The company reported ($0.20) EPS for the quarter, beating the Thomson Reuters 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 prior year, the company posted ($0.26) earnings per share. The company’s quarterly revenue 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 research firms have recently commented on IVAC. 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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