Intevac (NASDAQ:IVAC) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a note issued to investors on Thursday.
According to Zacks, “Intevac, Inc. is a leading supplier of static sputtering systems and related manufacturing equipment used to manufacture thin-film disks for computer hard disk drives. Sputtering is a complex vacuum deposition process used to deposit multiple thin-film layers on a disk. The company’s primary objective is to be the industry leader in supplying disk sputtering equipment by providing disk sputtering systems which have both the highest overall performance and the lowest cost of ownership in the industry. “
Other research analysts have also issued research reports about the company. B. Riley restated a “buy” rating and set a $14.00 price objective on shares of Intevac in a research report on Tuesday, October 31st. Benchmark restated a “hold” rating on shares of Intevac in a research report on Tuesday, October 31st. Maxim Group restated a “buy” rating and set a $12.00 price objective on shares of Intevac in a research report on Friday, October 27th. Finally, Noble Financial upgraded Intevac from a “hold” rating to a “buy” rating in a research report on Tuesday, October 31st. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and four have given a buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus target price of $12.60.
Intevac (NASDAQ:IVAC) last issued its quarterly earnings data on Monday, October 30th. The electronics maker reported $0.04 earnings per share for the quarter. The firm had revenue of $26.70 million during the quarter, compared to analyst estimates of $25.50 million. Intevac had a return on equity of 8.80% and a net margin of 5.97%. The business’s quarterly revenue was up 18.1% compared to the same quarter last year. During the same quarter last year, the business posted ($0.02) earnings per share. equities analysts anticipate that Intevac will post 0.12 EPS for the current fiscal year.
Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Navellier & Associates Inc grew its position in Intevac by 96.2% in the second quarter. Navellier & Associates Inc now owns 48,614 shares of the electronics maker’s stock worth $540,000 after acquiring an additional 23,835 shares in the last quarter. Bank of America Corp DE grew its position in Intevac by 3.3% in the first quarter. Bank of America Corp DE now owns 30,897 shares of the electronics maker’s stock worth $387,000 after acquiring an additional 1,000 shares in the last quarter. Vanguard Group Inc. grew its position in Intevac by 4.9% in the second quarter. Vanguard Group Inc. now owns 868,575 shares of the electronics maker’s stock worth $9,641,000 after acquiring an additional 40,865 shares in the last quarter. PDT Partners LLC purchased a new position in Intevac in the second quarter worth about $706,000. Finally, Dynamic Technology Lab Private Ltd grew its position in Intevac by 68.3% in the third quarter. Dynamic Technology Lab Private Ltd now owns 45,992 shares of the electronics maker’s stock worth $389,000 after acquiring an additional 18,668 shares in the last quarter. Institutional investors own 70.10% of the company’s stock.
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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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