Intevac, Inc. (IVAC) Given Average Recommendation of “Buy” by Brokerages
Shares of Intevac, Inc. (NASDAQ:IVAC) have been assigned a consensus recommendation of “Buy” from the six ratings firms that are covering the firm, MarketBeat reports. Three research analysts have rated the stock with a hold recommendation, two have assigned a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1 year price target among brokers that have issued a report on the stock in the last year is $14.50.
A number of brokerages recently issued reports on IVAC. B. Riley reissued a “buy” rating and issued a $16.00 target price on shares of Intevac in a research report on Sunday, May 7th. Zacks Investment Research raised Intevac from a “hold” rating to a “strong-buy” rating and set a $15.00 target price on the stock in a research report on Wednesday, May 3rd. Benchmark Co. reissued a “hold” rating and issued a $12.00 target price (up previously from $10.00) on shares of Intevac in a research report on Tuesday, May 2nd. Finally, Maxim Group reissued a “buy” rating and issued a $15.00 target price on shares of Intevac in a research report on Tuesday, May 2nd.
Shares of Intevac (NASDAQ IVAC) traded up 2.98% during trading on Tuesday, reaching $12.10. 222,378 shares of the company’s stock traded hands. The company has a market capitalization of $259.32 million, a price-to-earnings ratio of 366.67 and a beta of 0.95. Intevac has a 1-year low of $4.87 and a 1-year high of $14.15. The company has a 50 day moving average of $13.00 and a 200-day moving average of $10.83.
Intevac (NASDAQ:IVAC) last released its quarterly earnings results on Monday, May 1st. The electronics maker reported $0.08 EPS for the quarter, topping the Zacks’ consensus estimate of $0.05 by $0.03. The company had revenue of $30.40 million for the quarter, compared to analyst estimates of $28.58 million. Intevac had a return on equity of 0.91% and a net margin of 0.72%. Intevac’s revenue was up 123.5% compared to the same quarter last year. During the same quarter last year, the firm posted ($0.31) earnings per share. Equities analysts predict that Intevac will post $0.10 earnings per share for the current year.
In related news, major shareholder April Fund Ltd. 21 sold 338,857 shares of Intevac stock in a transaction that occurred on Tuesday, April 25th. The stock was sold at an average price of $13.44, for a total value of $4,554,238.08. The sale was disclosed in a document filed with the SEC, which is available at this link. In the last three months, insiders sold 593,644 shares of company stock worth $7,880,569. 13.90% of the stock is owned by insiders.
Several hedge funds and other institutional investors have recently bought and sold shares of the company. Dimensional Fund Advisors LP raised its position in Intevac by 1.0% in the fourth quarter. Dimensional Fund Advisors LP now owns 840,967 shares of the electronics maker’s stock valued at $7,190,000 after buying an additional 8,069 shares during the period. Renaissance Technologies LLC raised its position in Intevac by 36.2% in the first quarter. Renaissance Technologies LLC now owns 510,485 shares of the electronics maker’s stock valued at $6,381,000 after buying an additional 135,632 shares during the period. Essex Investment Management Co. LLC raised its position in Intevac by 31.9% in the first quarter. Essex Investment Management Co. LLC now owns 150,851 shares of the electronics maker’s stock valued at $1,886,000 after buying an additional 36,471 shares during the period. EAM Investors LLC raised its position in Intevac by 96.5% in the first quarter. EAM Investors LLC now owns 141,063 shares of the electronics maker’s stock valued at $1,763,000 after buying an additional 69,268 shares during the period. Finally, Geode Capital Management LLC raised its position in Intevac by 14.5% in the first quarter. Geode Capital Management LLC now owns 127,558 shares of the electronics maker’s stock valued at $1,593,000 after buying an additional 16,151 shares during the period. 66.07% of the stock is currently owned by hedge funds and other institutional investors.
Intevac, Inc (Intevac) is a provider of vacuum deposition equipment for a range of thin-film applications, and digital night-vision technologies and products to the defense industry. The Company’s segments include Thin-film Equipment and Photonics. The Company designs, manufactures, markets and services capital equipment used to deposit thin films and lubricants onto substrates to produce magnetic disks that are used in hard disk drives.
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