Analysts Set Intevac, Inc. (IVAC) PT at $5.33

Shares of Intevac, Inc. (NASDAQ:IVAC) have received a consensus recommendation of “Hold” from the seven brokerages that are presently covering the company, Marketbeat Ratings reports. One research analyst has rated the stock with a sell recommendation, three have assigned a hold recommendation and two have issued a buy recommendation on the company. The average 1-year price target among brokerages that have issued ratings on the stock in the last year is $5.33.

A number of research analysts have weighed in on the stock. Maxim Group reiterated a “hold” rating on shares of Intevac in a research report 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 for the company in a research report on Tuesday, October 30th. Finally, ValuEngine downgraded shares of Intevac from a “hold” rating to a “sell” rating in a research report on Saturday, August 18th.

NASDAQ IVAC opened at $4.72 on Thursday. Intevac has a 1 year low of $4.21 and a 1 year high of $7.70.

Intevac (NASDAQ:IVAC) last issued its quarterly earnings data on Monday, October 29th. The electronics maker reported ($0.05) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.13) by $0.08. The business had revenue of $19.47 million during the quarter, compared to the consensus estimate of $18.75 million. Intevac had a negative net margin of 7.30% and a negative return on equity of 8.00%. Equities analysts expect that Intevac will post -0.22 earnings per share for the current fiscal year.

Intevac declared that its Board of Directors has authorized a share repurchase program on Monday, August 20th that permits the company to repurchase $10.00 million in shares. This repurchase authorization permits the electronics maker to buy up to 8.8% of its stock through open market purchases. Stock repurchase programs are typically an indication that the company’s board believes its stock is undervalued.

Several institutional investors have recently modified their holdings of IVAC. Dimensional Fund Advisors LP raised its position in shares of Intevac by 24.5% in 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 during the period. Royce & Associates LP raised its position in shares of Intevac by 13.8% in the third quarter. Royce & Associates LP now owns 1,866,830 shares of the electronics maker’s stock worth $9,708,000 after acquiring an additional 226,089 shares during the period. Millennium Management LLC acquired a new position in shares of Intevac in the second quarter worth about $728,000. Paloma Partners Management Co acquired a new position in shares of Intevac in the second quarter worth about $472,000. Finally, LMR Partners LLP acquired a new position in shares of Intevac in the second quarter worth about $275,000. Institutional investors and hedge funds own 63.72% 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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