Intevac (IVAC) Rating Lowered to Sell at ValuEngine

Intevac (NASDAQ:IVAC) was downgraded by investment analysts at ValuEngine from a “hold” rating to a “sell” rating in a report released on Thursday.

A number of other research analysts have also issued reports on the company. Maxim Group reaffirmed a “buy” rating and set a $12.00 target price on shares of Intevac in a report on Thursday, February 1st. B. Riley reiterated a “buy” rating and issued a $11.50 price target (down previously from $14.00) on shares of Intevac in a research report on Thursday, February 1st. Noble Financial reiterated a “buy” rating on shares of Intevac in a research report on Thursday, January 18th. Zacks Investment Research upgraded Intevac from a “sell” rating to a “hold” rating in a research report on Wednesday, January 3rd. Finally, Benchmark reiterated a “hold” rating on shares of Intevac in a research report on Tuesday, October 31st. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and four have assigned a buy rating to the company’s stock. Intevac presently has an average rating of “Hold” and a consensus price target of $12.10.

Intevac (IVAC) traded down $0.10 during trading hours on Thursday, reaching $6.25. The company had a trading volume of 110,501 shares, compared to its average volume of 101,163. The firm has a market capitalization of $139.05, a price-to-earnings ratio of 34.72 and a beta of 0.90. Intevac has a 1 year low of $6.16 and a 1 year high of $14.15.

Intevac (NASDAQ:IVAC) last released its earnings results on Wednesday, January 31st. The electronics maker reported $0.00 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.01) by $0.01. The firm had revenue of $24.80 million for the quarter, compared to analyst estimates of $24.80 million. Intevac had a return on equity of 4.89% and a net margin of 3.65%. Intevac’s revenue was down 14.5% compared to the same quarter last year. During the same period in the previous year, the company earned $0.13 earnings per share. research analysts anticipate that Intevac will post 0.22 EPS for the current year.

In related news, major shareholder April Fund Ltd. 21 purchased 86,332 shares of the firm’s stock in a transaction that occurred on Tuesday, February 6th. The stock was acquired at an average price of $6.33 per share, for a total transaction of $546,481.56. The acquisition was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Insiders purchased a total of 220,423 shares of company stock valued at $1,448,164 in the last quarter. 13.90% of the stock is currently owned by corporate insiders.

Large investors have recently added to or reduced their stakes in the stock. Navellier & Associates Inc boosted its position in shares of Intevac by 96.2% in the 2nd quarter. Navellier & Associates Inc now owns 48,614 shares of the electronics maker’s stock valued at $540,000 after purchasing an additional 23,835 shares during the period. Vanguard Group Inc. boosted its position in Intevac by 4.9% during the 2nd quarter. Vanguard Group Inc. now owns 868,575 shares of the electronics maker’s stock worth $9,641,000 after acquiring an additional 40,865 shares during the period. PEAK6 Investments L.P. boosted its position in Intevac by 73.6% during the 3rd quarter. PEAK6 Investments L.P. now owns 76,768 shares of the electronics maker’s stock worth $649,000 after acquiring an additional 32,558 shares during the period. GSA Capital Partners LLP acquired a new stake in Intevac during the 3rd quarter worth about $318,000. Finally, California State Teachers Retirement System acquired a new stake in Intevac during the 2nd quarter worth about $382,000. Institutional investors and hedge funds own 70.00% of the company’s stock.

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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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Analyst Recommendations for Intevac (NASDAQ:IVAC)

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