Intevac, Inc. (IVAC) Expected to Announce Earnings of -$0.24 Per Share

Equities analysts expect that Intevac, Inc. (NASDAQ:IVAC) will announce earnings per share of ($0.24) for the current quarter, Zacks reports. Two analysts have issued estimates for Intevac’s earnings. The highest EPS estimate is ($0.22) and the lowest is ($0.25). Intevac reported earnings of $0.08 per share in the same quarter last year, which would indicate a negative year over year growth rate of 400%. The firm is expected to announce its next earnings report on Monday, May 7th.

On average, analysts expect that Intevac will report full year earnings of $0.22 per share for the current year, with EPS estimates ranging from $0.20 to $0.23. For the next year, analysts forecast that the business will report earnings of $0.72 per share. Zacks Investment Research’s earnings per share averages are an average based on a survey of sell-side research analysts that that provide coverage for Intevac.

Intevac (NASDAQ:IVAC) last posted its earnings results on Wednesday, January 31st. The electronics maker reported $0.00 EPS for the quarter, topping the Zacks’ consensus estimate of ($0.01) by $0.01. Intevac had a return on equity of 4.89% and a net margin of 3.65%. The business had revenue of $24.80 million for the quarter, compared to analysts’ expectations of $24.80 million. During the same quarter in the previous year, the firm earned $0.13 earnings per share. The business’s revenue was down 14.5% compared to the same quarter last year.

A number of research firms recently issued reports on IVAC. Maxim Group reissued a “buy” rating and set a $12.00 price target on shares of Intevac in a report on Friday, October 27th. ValuEngine lowered Intevac from a “hold” rating to a “sell” rating in a report on Thursday. Zacks Investment Research raised Intevac from a “sell” rating to a “hold” rating in a report on Wednesday, January 3rd. B. Riley raised Intevac to a “buy” rating in a report on Thursday, January 18th. Finally, Noble Financial reissued a “buy” rating on shares of Intevac in a report on Thursday, January 18th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and four have given a buy rating to the stock. The company presently has an average rating of “Hold” and an average price target of $12.10.

In related news, major shareholder April Fund Ltd. 21 purchased 21,300 shares of the stock in a transaction that occurred on Thursday, February 8th. The shares were purchased at an average price of $6.32 per share, with a total value of $134,616.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In the last three months, insiders have purchased 241,723 shares of company stock worth $1,582,780. Corporate insiders own 13.90% of the company’s stock.

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Royce & Associates LP boosted its holdings in Intevac by 24.2% in the 4th quarter. Royce & Associates LP now owns 1,741,646 shares of the electronics maker’s stock valued at $11,930,000 after purchasing an additional 338,871 shares in the last quarter. BlackRock Inc. boosted its holdings in Intevac by 0.8% in the 4th quarter. BlackRock Inc. now owns 1,447,893 shares of the electronics maker’s stock valued at $9,917,000 after purchasing an additional 11,556 shares in the last quarter. Dimensional Fund Advisors LP boosted its holdings in Intevac by 4.7% in the 3rd quarter. Dimensional Fund Advisors LP now owns 869,615 shares of the electronics maker’s stock valued at $7,348,000 after purchasing an additional 38,859 shares in the last quarter. Vanguard Group Inc. boosted its holdings in Intevac by 4.9% in the 2nd quarter. Vanguard Group Inc. now owns 868,575 shares of the electronics maker’s stock valued at $9,641,000 after purchasing an additional 40,865 shares in the last quarter. Finally, Algert Global LLC boosted its holdings in Intevac by 10.1% in the 4th quarter. Algert Global LLC now owns 273,553 shares of the electronics maker’s stock valued at $1,874,000 after purchasing an additional 25,001 shares in the last quarter. 70.00% of the stock is currently owned by institutional investors.

Intevac (NASDAQ IVAC) opened at $6.20 on Friday. Intevac has a twelve month low of $6.10 and a twelve month high of $14.15. The stock has a market capitalization of $134.01, a PE ratio of 34.44 and a beta of 0.90.

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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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