Ancora Advisors LLC grew its stake in Intevac, Inc. (NASDAQ:IVAC) by 20.5% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 251,997 shares of the electronics maker’s stock after buying an additional 42,939 shares during the period. Ancora Advisors LLC owned 1.10% of Intevac worth $1,310,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors also recently bought and sold shares of IVAC. Jane Street Group LLC acquired a new stake in shares of Intevac in the second quarter worth $113,000. Laurion Capital Management LP acquired a new stake in shares of Intevac in the second quarter worth $134,000. JPMorgan Chase & Co. increased its stake in shares of Intevac by 397.4% in the third quarter. JPMorgan Chase & Co. now owns 41,208 shares of the electronics maker’s stock worth $214,000 after acquiring an additional 32,923 shares during the period. LMR Partners LLP acquired a new stake in shares of Intevac in the second quarter worth $275,000. Finally, Paloma Partners Management Co acquired a new stake in shares of Intevac in the second quarter worth $472,000. 63.72% of the stock is owned by institutional investors and hedge funds.
A number of analysts have recently weighed in on the stock. Maxim Group reiterated a “hold” rating on shares of Intevac in a research note on Tuesday, October 30th. Zacks Investment Research upgraded shares of Intevac from a “hold” rating to a “buy” rating and set a $5.00 price objective on the stock in a research note on Tuesday, October 30th. Finally, ValuEngine lowered shares of Intevac from a “hold” rating to a “sell” rating in a research note on Saturday, August 18th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and two have issued a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus target price of $5.63.
NASDAQ:IVAC opened at $4.72 on Monday. The firm has a market capitalization of $107.68 million, a PE ratio of 27.76 and a beta of 1.04. Intevac, Inc. has a 1-year low of $4.21 and a 1-year high of $7.70.
Intevac (NASDAQ:IVAC) last released its quarterly earnings data on Monday, October 29th. The electronics maker reported ($0.05) earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.13) by $0.08. The firm had revenue of $19.47 million for the quarter, compared to analyst estimates of $18.75 million. Intevac had a negative net margin of 7.30% and a negative return on equity of 8.00%. Research analysts forecast that Intevac, Inc. will post -0.22 EPS for the current fiscal year.
Intevac announced that its board has approved a stock buyback plan on Monday, August 20th that permits the company to buyback $10.00 million in outstanding shares. This buyback authorization permits the electronics maker to buy up to 8.8% of its stock through open market purchases. Stock buyback plans are typically an indication that the company’s board believes its shares are undervalued.
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.
See Also: Buyback For Investors Defined
Receive News & Ratings for Intevac Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Intevac and related companies with MarketBeat.com's FREE daily email newsletter.