Intevac (NASDAQ:IVAC) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a note issued to investors on Friday.

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. “

A number of other research firms also recently weighed in on IVAC. B. Riley restated a “buy” rating and issued a $14.00 target price on shares of Intevac in a report on Tuesday, October 31st. Benchmark restated a “hold” rating on shares of Intevac in a report on Tuesday, October 31st. Noble Financial upgraded shares of Intevac from a “hold” rating to a “buy” rating in a report on Tuesday, October 31st. Finally, Maxim Group restated a “buy” rating and issued a $13.00 target price on shares of Intevac in a report on Wednesday, October 11th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and four have assigned a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average target price of $12.60.

Shares of Intevac (NASDAQ IVAC) traded up $0.05 during midday trading on Friday, reaching $6.85. 123,309 shares of the company’s stock were exchanged, compared to its average volume of 102,907. The company has a market cap of $148.16, a P/E ratio of 22.67 and a beta of 0.85. Intevac has a one year low of $6.40 and a one year high of $14.15.

Intevac (NASDAQ:IVAC) last posted its earnings results on Monday, October 30th. The electronics maker reported $0.04 earnings per share for the quarter. Intevac had a net margin of 5.97% and a return on equity of 8.80%. The firm had revenue of $26.70 million for the quarter, compared to the consensus estimate of $25.50 million. During the same period in the previous year, the firm posted ($0.02) EPS. The business’s quarterly revenue was up 18.1% on a year-over-year basis. analysts forecast that Intevac will post 0.12 EPS for the current year.

Several institutional investors have recently bought and sold shares of IVAC. Navellier & Associates Inc boosted its stake in shares of Intevac by 96.2% during the 2nd quarter. Navellier & Associates Inc now owns 48,614 shares of the electronics maker’s stock worth $540,000 after purchasing an additional 23,835 shares during the period. Bank of America Corp DE boosted its stake in shares of Intevac by 3.3% during the 1st quarter. Bank of America Corp DE now owns 30,897 shares of the electronics maker’s stock worth $387,000 after purchasing an additional 1,000 shares during the period. PDT Partners LLC purchased a new position in shares of Intevac during the 2nd quarter worth about $706,000. Arrowstreet Capital Limited Partnership boosted its stake in shares of Intevac by 100.3% during the 2nd quarter. Arrowstreet Capital Limited Partnership now owns 40,342 shares of the electronics maker’s stock worth $448,000 after purchasing an additional 20,200 shares during the period. Finally, Schwab Charles Investment Management Inc. purchased a new position in shares of Intevac during the 2nd quarter worth about $363,000. Hedge funds and other institutional investors own 70.23% of the company’s stock.

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About Intevac

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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