B. Riley Upgrades Intevac (IVAC) to “Buy”
Intevac (NASDAQ:IVAC) was upgraded by equities research analysts at B. Riley to a “buy” rating in a research note issued to investors on Thursday.
Several other brokerages have also recently commented on IVAC. Benchmark reiterated a “hold” rating on shares of Intevac in a research report on Tuesday, October 31st. Maxim Group reiterated a “buy” rating and issued a $13.00 price target on shares of Intevac in a research report on Wednesday, October 11th. Noble Financial upgraded shares of Intevac from a “hold” rating to a “buy” rating in a research report on Tuesday, October 31st. Finally, Zacks Investment Research cut shares of Intevac from a “buy” rating to a “hold” rating in a research report on Wednesday, September 27th. Three investment analysts have rated the stock with a hold rating and four have given a buy rating to the stock. The company has a consensus rating of “Buy” and a consensus target price of $12.60.
Shares of Intevac (NASDAQ:IVAC) traded up $0.05 during midday trading on Thursday, hitting $6.80. 72,745 shares of the company were exchanged, compared to its average volume of 69,408. Intevac has a fifty-two week low of $6.20 and a fifty-two week high of $14.15. The company has a market capitalization of $148.17, a PE ratio of 21.25 and a beta of 0.85.
A number of institutional investors and hedge funds have recently modified their holdings of the stock. GSA Capital Partners LLP purchased a new position in Intevac in the 3rd quarter worth about $318,000. Algert Global LLC increased its stake in Intevac by 65.6% in the 3rd quarter. Algert Global LLC now owns 248,552 shares of the electronics maker’s stock worth $2,100,000 after purchasing an additional 98,468 shares in the last quarter. Cornerstone Capital Management Holdings LLC. purchased a new position in Intevac in the 3rd quarter worth about $216,000. PEAK6 Investments L.P. increased its stake in Intevac by 73.6% in the 3rd quarter. PEAK6 Investments L.P. now owns 76,768 shares of the electronics maker’s stock worth $649,000 after purchasing an additional 32,558 shares in the last quarter. Finally, Royce & Associates LP increased its stake in Intevac by 3.3% in the 3rd quarter. Royce & Associates LP now owns 1,402,775 shares of the electronics maker’s stock worth $11,853,000 after purchasing an additional 44,854 shares in the last quarter. 70.11% of the stock is currently owned by hedge funds and other institutional investors.
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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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