Northern Trust Corp raised its position in shares of Intevac, Inc. (NASDAQ:IVAC) by 56.3% in the second quarter, according to its most recent filing with the SEC. The firm owned 97,111 shares of the electronics maker’s stock after purchasing an additional 34,987 shares during the quarter. Northern Trust Corp owned approximately 0.45% of Intevac worth $1,077,000 at the end of the most recent quarter.
A number of other large investors have also recently added to or reduced their stakes in IVAC. Goldman Sachs Group Inc. acquired a new stake in Intevac during the 1st quarter valued at approximately $1,337,000. Marshall Wace North America L.P. acquired a new stake in Intevac during the 2nd quarter valued at approximately $1,074,000. Algert Global LLC increased its position in Intevac by 122.7% during the 2nd quarter. Algert Global LLC now owns 150,084 shares of the electronics maker’s stock valued at $1,666,000 after purchasing an additional 82,690 shares during the period. Acadian Asset Management LLC increased its position in Intevac by 745.5% during the 2nd quarter. Acadian Asset Management LLC now owns 86,221 shares of the electronics maker’s stock valued at $956,000 after purchasing an additional 76,023 shares during the period. Finally, TIAA CREF Investment Management LLC acquired a new stake in Intevac during the 2nd quarter valued at approximately $577,000. 70.23% of the stock is owned by institutional investors and hedge funds.
Several brokerages have recently commented on IVAC. Zacks Investment Research downgraded shares of Intevac from a “buy” rating to a “hold” rating in a research report on Wednesday, September 27th. B. Riley reaffirmed a “buy” rating and set a $14.00 price objective on shares of Intevac in a research report on Tuesday, October 31st. Benchmark reaffirmed a “hold” rating on shares of Intevac in a research report on Tuesday, October 31st. Noble Financial raised shares of Intevac from a “hold” rating to a “buy” rating in a research report on Tuesday, October 31st. Finally, Maxim Group reaffirmed a “buy” rating and set a $13.00 price objective on shares of Intevac in a research report on Wednesday, October 11th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and four have assigned a buy rating to the stock. The stock has an average rating of “Hold” and a consensus price target of $12.60.
Intevac (NASDAQ:IVAC) last announced its quarterly earnings data on Monday, October 30th. The electronics maker reported $0.04 EPS for the quarter. The company had revenue of $26.70 million during the quarter, compared to the consensus estimate of $25.50 million. Intevac had a net margin of 5.97% and a return on equity of 8.80%. The company’s quarterly revenue was up 18.1% on a year-over-year basis. During the same quarter last year, the firm posted ($0.02) EPS. equities research analysts predict that Intevac, Inc. will post 0.12 earnings per share for the current year.
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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