Intevac, Inc. (NASDAQ:IVAC) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a report issued on Tuesday.

According to Zacks, “Intevac, Inc. is a leading supplier of static sputtering systems and related manufacturing equipment used to manufacture thin-film disks for computer hard disk drives. Sputtering is a complex vacuum deposition process used to deposit multiple thin-film layers on a disk. The company’s primary objective is to be the industry leader in supplying disk sputtering equipment by providing disk sputtering systems which have both the highest overall performance and the lowest cost of ownership in the industry. “

Several other analysts also recently issued reports on IVAC. Maxim Group reissued a “buy” rating and set a $15.00 target price on shares of Intevac in a research note on Tuesday, May 2nd. Benchmark Co. reissued a “hold” rating and set a $12.00 price target (up from $10.00) on shares of Intevac in a research note on Tuesday, May 2nd. BidaskClub raised Intevac from a “sell” rating to a “hold” rating in a research note on Wednesday, July 12th. Finally, B. Riley reaffirmed a “buy” rating and set a $16.00 target price on shares of Intevac in a research report on Sunday, May 7th. Five equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. Intevac presently has a consensus rating of “Hold” and a consensus price target of $14.00.

Shares of Intevac (IVAC) traded down 0.43% during trading on Tuesday, reaching $11.55. The company’s stock had a trading volume of 114,437 shares. The firm has a market cap of $247.53 million, a P/E ratio of 350.00 and a beta of 1.01. Intevac has a one year low of $5.60 and a one year high of $14.15. The stock’s 50 day moving average is $12.16 and its 200 day moving average is $11.48.

Intevac (NASDAQ:IVAC) last released its quarterly earnings data on Monday, May 1st. The electronics maker reported $0.08 EPS for the quarter, beating the consensus estimate of $0.05 by $0.03. Intevac had a return on equity of 0.91% and a net margin of 0.72%. The company had revenue of $30.40 million for the quarter, compared to analysts’ expectations of $28.58 million. During the same period last year, the firm posted ($0.31) earnings per share. Intevac’s revenue was up 123.5% compared to the same quarter last year. On average, equities analysts forecast that Intevac will post $0.10 EPS for the current fiscal year.

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In other news, major shareholder April Fund Ltd. 21 sold 67,554 shares of the firm’s stock in a transaction on Tuesday, May 9th. The stock was sold at an average price of $13.02, for a total transaction of $879,553.08. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Over the last 90 days, insiders have sold 593,644 shares of company stock valued at $7,880,569. Company insiders own 13.90% of the company’s stock.

A number of hedge funds have recently bought and sold shares of the stock. Acadian Asset Management LLC acquired a new stake in Intevac during the first quarter worth $127,000. Acrospire Investment Management LLC boosted its stake in Intevac by 218.2% in the first quarter. Acrospire Investment Management LLC now owns 17,075 shares of the electronics maker’s stock worth $213,000 after buying an additional 11,709 shares in the last quarter. Dynamic Technology Lab Private Ltd acquired a new stake in Intevac during the first quarter worth $286,000. Fruth Investment Management acquired a new stake in Intevac during the first quarter worth $288,000. Finally, Oxford Asset Management acquired a new stake in Intevac during the first quarter worth $290,000. Institutional investors own 66.09% of the company’s stock.

Intevac Company Profile

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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