Intevac, Inc. (NASDAQ:IVAC) was upgraded by equities research analysts at Noble Financial from a “hold” rating to a “buy” rating in a report issued on Tuesday.
Other analysts also recently issued reports about the company. Zacks Investment Research upgraded Intevac from a “hold” rating to a “buy” rating and set a $13.00 target price on the stock in a research note on Monday, July 17th. B. Riley reiterated a “buy” rating and set a $16.00 target price on shares of Intevac in a research note on Tuesday, August 1st. Roth Capital set a $14.00 target price on Intevac and gave the company a “buy” rating in a research note on Friday, July 28th. Maxim Group reiterated a “buy” rating and set a $12.00 target price on shares of Intevac in a research note on Friday, October 27th. Finally, Benchmark Co. reiterated a “hold” rating on shares of Intevac in a research note on Tuesday, August 1st. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and four have assigned a buy rating to the stock. Intevac has a consensus rating of “Hold” and a consensus price target of $12.60.
Intevac (NASDAQ:IVAC) last issued its earnings results on Monday, October 30th. The electronics maker reported $0.04 EPS for the quarter. Intevac had a return on equity of 8.80% and a net margin of 5.97%. The business had revenue of $26.70 million for the quarter, compared to the consensus estimate of $25.50 million. During the same period last year, the business posted ($0.02) EPS. The company’s revenue was up 18.1% compared to the same quarter last year.
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Several hedge funds and other institutional investors have recently added to or reduced their stakes in IVAC. State Street Corp lifted its holdings in shares of Intevac by 1,307.7% during the 2nd quarter. State Street Corp now owns 246,157 shares of the electronics maker’s stock valued at $2,732,000 after buying an additional 228,670 shares during the period. OxFORD Asset Management LLP lifted its holdings in shares of Intevac by 835.4% during the 2nd quarter. OxFORD Asset Management LLP now owns 217,312 shares of the electronics maker’s stock valued at $2,412,000 after buying an additional 194,081 shares during the period. Renaissance Technologies LLC lifted its holdings in shares of Intevac by 36.2% during the 1st quarter. Renaissance Technologies LLC now owns 510,485 shares of the electronics maker’s stock valued at $6,381,000 after buying an additional 135,632 shares during the period. Goldman Sachs Group Inc. bought a new position in shares of Intevac during the 1st quarter valued at $1,337,000. Finally, Marshall Wace North America L.P. bought a new position in shares of Intevac during the 2nd quarter valued at $1,074,000. 69.76% of the stock is currently owned by hedge funds and other institutional investors.
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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