Intevac, Inc. (NASDAQ:IVAC) – Equities researchers at B. Riley boosted their FY2018 earnings per share estimates for Intevac in a research note issued on Tuesday, October 30th. B. Riley analyst C. Ellis now forecasts that the electronics maker will post earnings of ($0.22) per share for the year, up from their prior forecast of ($0.27). B. Riley currently has a “Neutral” rating and a $5.00 target price on the stock. B. Riley also issued estimates for Intevac’s Q1 2019 earnings at ($0.04) EPS and Q2 2019 earnings at ($0.01) EPS.
Several other brokerages have also recently issued reports on IVAC. ValuEngine cut shares of Intevac from a “hold” rating to a “sell” rating in a research report on Wednesday, July 4th. Zacks Investment Research upgraded shares of Intevac from a “sell” rating to a “hold” rating in a research report on Wednesday, July 4th. Benchmark upgraded shares of Intevac from a “hold” rating to a “buy” rating and set a $6.00 price target on the stock in a research report on Tuesday, July 31st. Noble Financial reiterated a “hold” rating on shares of Intevac in a research report on Tuesday, July 31st. Finally, Maxim Group reiterated a “hold” rating on shares of Intevac in a research report on Tuesday. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and two have assigned a buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus price target of $5.63.
IVAC stock opened at $4.80 on Thursday. Intevac has a 12-month low of $4.21 and a 12-month high of $9.15. The stock has a market capitalization of $106.14 million, a price-to-earnings ratio of 28.24 and a beta of 0.90.
Intevac (NASDAQ:IVAC) last released its quarterly earnings data on Monday, October 29th. The electronics maker reported ($0.05) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.13) by $0.08. Intevac had a negative net margin of 7.30% and a negative return on equity of 8.00%. The firm had revenue of $19.47 million for the quarter, compared to analysts’ expectations of $18.75 million.
Intevac announced that its board has approved a stock repurchase program on Monday, August 20th that allows the company to buyback $10.00 million in outstanding shares. This buyback authorization allows the electronics maker to buy up to 8.8% of its shares through open market purchases. Shares buyback programs are usually a sign that the company’s board of directors believes its stock is undervalued.
Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Jane Street Group LLC purchased a new position in shares of Intevac during the second quarter valued at about $113,000. Millennium Management LLC bought a new stake in Intevac during the second quarter worth about $728,000. Paloma Partners Management Co bought a new stake in Intevac during the second quarter worth about $472,000. Laurion Capital Management LP bought a new stake in Intevac during the second quarter worth about $134,000. Finally, Dimensional Fund Advisors LP boosted its stake in Intevac by 24.5% during the second quarter. Dimensional Fund Advisors LP now owns 1,231,623 shares of the electronics maker’s stock worth $5,973,000 after acquiring an additional 242,655 shares in the last quarter. Institutional investors own 63.22% of the company’s stock.
Intevac Company Profile
Intevac, Inc provides vacuum deposition equipment for various thin-film applications, and digital night-vision technologies and products to the defense industry in the United States, Asia, Europe, and internationally. It operates in two segments, Thin-Film Equipment and Photonics. The Thin-film Equipment segment designs, manufactures, markets, and services disk sputtering, etch and deposition, and disk lubrication systems; and offers upgrades, spares, and consumables, as well as provides process and applications support, customer training, installation, start-up assistance, and post-installation support services.
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