Intevac Inc. (NASDAQ:IVAC) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research note issued to investors on Friday. The brokerage presently has a $6.75 price target on the stock. Zacks Investment Research’s price objective points to a potential upside of 13.45% from the stock’s previous close.
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. “
Separately, B. Riley restated a “neutral” rating and set a $6.50 price target on shares of Intevac in a research note on Tuesday, August 2nd. One equities research analyst has rated the stock with a hold rating and six have issued a buy rating to the company. Intevac has a consensus rating of “Buy” and a consensus target price of $7.05.
Intevac (NASDAQ:IVAC) opened at 5.95 on Friday. The firm’s 50-day moving average price is $6.00 and its 200 day moving average price is $5.45. Intevac has a 52-week low of $3.99 and a 52-week high of $6.60. The firm’s market cap is $124.49 million.
Intevac (NASDAQ:IVAC) last announced its quarterly earnings results on Monday, August 1st. The company reported ($0.17) EPS for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.28) by $0.11. The company earned $14.90 million during the quarter, compared to analyst estimates of $14.20 million. Intevac had a negative return on equity of 21.55% and a negative net margin of 25.36%. The firm’s revenue was down 27.3% on a year-over-year basis. During the same period in the prior year, the firm posted ($0.01) earnings per share. On average, equities research analysts forecast that Intevac will post ($0.43) EPS for the current year.
In related news, Director Matthew A. Drapkin bought 175,000 shares of the firm’s stock in a transaction dated Tuesday, August 9th. The stock was bought at an average price of $6.09 per share, with a total value of $1,065,750.00. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 13.90% of the stock is owned by insiders.
Several large investors have recently modified their holdings of the company. Bridgeway Capital Management Inc. increased its stake in shares of Intevac by 86.3% in the second quarter. Bridgeway Capital Management Inc. now owns 107,933 shares of the company’s stock valued at $613,000 after buying an additional 50,000 shares during the last quarter. Renaissance Technologies LLC increased its position in shares of Intevac by 17.4% in the first quarter. Renaissance Technologies LLC now owns 218,100 shares of the company’s stock worth $981,000 after buying an additional 32,400 shares in the last quarter. Teton Advisors Inc. increased its position in shares of Intevac by 28.3% in the second quarter. Teton Advisors Inc. now owns 232,030 shares of the company’s stock worth $1,318,000 after buying an additional 51,161 shares in the last quarter. Finally, Royce & Associates LP increased its position in shares of Intevac by 10.6% in the first quarter. Royce & Associates LP now owns 2,015,240 shares of the company’s stock worth $9,069,000 after buying an additional 192,360 shares in the last quarter. 73.53% of the stock is owned by institutional investors.
Intevac Company Profile
Intevac, Inc (Intevac) is a provider of vacuum deposition equipment for a range of thin-film applications, and a provider of digital night-vision technologies and products to the defense industry. The Company’s segments include Thin-film Equipment and Photonics. Intevac is engaged in the design and development of thin-film processing systems.
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