Intevac Inc. (NASDAQ:IVAC) Given Consensus Recommendation of “Buy” by Analysts
Shares of Intevac Inc. (NASDAQ:IVAC) have received a consensus rating of “Buy” from the seven analysts that are presently covering the stock. One investment analyst has rated the stock with a hold rating, five have assigned a buy rating and one has given a strong buy rating to the company. The average 12-month price target among brokers that have issued a report on the stock in the last year is $7.00.
A number of research analysts have commented on the company. Zacks Investment Research raised Intevac from a “hold” rating to a “buy” rating and set a $6.50 price target for the company in a research report on Tuesday, July 5th. B. Riley reaffirmed a “neutral” rating and set a $6.50 price target on shares of Intevac in a research report on Tuesday, August 2nd. Finally, Benchmark Co. raised Intevac from a “hold” rating to a “buy” rating and upped their price target for the company from $5.50 to $6.50 in a research report on Wednesday, June 8th.
In other news, Director Matthew A. Drapkin bought 175,000 shares of the firm’s stock in a transaction dated Tuesday, August 9th. The stock was purchased at an average price of $6.09 per share, with a total value of $1,065,750.00. The transaction was disclosed in a filing with the SEC, which is accessible through this link. 13.90% of the stock is owned by insiders.
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A number of hedge funds and other institutional investors have recently bought and sold shares of IVAC. Bridgeway Capital Management Inc. raised its position in Intevac by 86.3% in the second quarter. Bridgeway Capital Management Inc. now owns 107,933 shares of the company’s stock worth $613,000 after buying an additional 50,000 shares during the period. Renaissance Technologies LLC raised its position in Intevac by 17.4% in the first quarter. Renaissance Technologies LLC now owns 218,100 shares of the company’s stock worth $981,000 after buying an additional 32,400 shares during the period. Teton Advisors Inc. raised its position in Intevac by 28.3% in the second quarter. Teton Advisors Inc. now owns 232,030 shares of the company’s stock worth $1,318,000 after buying an additional 51,161 shares during the period. Finally, Royce & Associates LP raised its position in Intevac by 10.6% in the first quarter. Royce & Associates LP now owns 2,015,240 shares of the company’s stock worth $9,069,000 after buying an additional 192,360 shares during the period. 73.53% of the stock is owned by institutional investors.
Intevac (NASDAQ:IVAC) traded down 0.16% on Tuesday, reaching $6.12. The company’s stock had a trading volume of 1,100 shares. The stock’s market cap is $128.05 million. The company’s 50 day moving average price is $6.01 and its 200-day moving average price is $5.28. Intevac has a 12-month low of $3.99 and a 12-month high of $6.60.
Intevac (NASDAQ:IVAC) last released its quarterly earnings results on Monday, August 1st. The company reported ($0.17) EPS for the quarter, beating analysts’ consensus estimates of ($0.28) by $0.11. The business earned $14.90 million during the quarter, compared to analyst estimates of $14.20 million. Intevac had a negative return on equity of 21.55% and a negative net margin of 25.36%. Intevac’s quarterly revenue was down 27.3% compared to the same quarter last year. During the same quarter in the prior year, the company posted ($0.01) EPS. On average, equities analysts expect that Intevac will post ($0.43) EPS for the current year.
Intevac Company Profile
Intevac, Inc (Intevac) is a provider of vacuum deposition equipment for a range of thin-film applications, and a provider of digital night-vision technologies and products to the defense industry. The Company’s segments include Thin-film Equipment and Photonics. Intevac is engaged in the design and development of thin-film processing systems.
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