Intevac, Inc. (IVAC) Receives $13.33 Average Target Price from Brokerages
Intevac, Inc. (NASDAQ:IVAC) has been assigned an average recommendation of “Hold” from the seven ratings firms that are covering the stock, Marketbeat.com reports. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and four have given a buy rating to the company. The average twelve-month target price among brokers that have issued ratings on the stock in the last year is $13.33.
IVAC has been the subject of a number of research reports. Zacks Investment Research downgraded shares of Intevac from a “buy” rating to a “hold” rating in a research report on Wednesday, September 27th. Maxim Group reiterated a “buy” rating and set a $13.00 price target on shares of Intevac in a research report on Wednesday, October 11th. Noble Financial upgraded shares of Intevac from a “hold” rating to a “buy” rating in a research report on Tuesday, October 31st. Benchmark reiterated a “hold” rating on shares of Intevac in a research report on Tuesday, October 31st. Finally, B. Riley reiterated a “buy” rating and set a $14.00 price target on shares of Intevac in a research report on Tuesday, October 31st.
Several institutional investors have recently modified their holdings of the stock. GSA Capital Partners LLP acquired a new position in shares of Intevac during the 3rd quarter worth approximately $318,000. Algert Global LLC raised its position in shares of Intevac by 65.6% during the 3rd quarter. Algert Global LLC now owns 248,552 shares of the electronics maker’s stock worth $2,100,000 after purchasing an additional 98,468 shares during the last quarter. Cornerstone Capital Management Holdings LLC. acquired a new position in shares of Intevac during the 3rd quarter worth approximately $216,000. PEAK6 Investments L.P. raised its position in shares of Intevac by 73.6% during the 3rd quarter. PEAK6 Investments L.P. now owns 76,768 shares of the electronics maker’s stock worth $649,000 after purchasing an additional 32,558 shares during the last quarter. Finally, Royce & Associates LP raised its position in shares of Intevac by 3.3% during the 3rd quarter. Royce & Associates LP now owns 1,402,775 shares of the electronics maker’s stock worth $11,853,000 after purchasing an additional 44,854 shares during the last quarter. Hedge funds and other institutional investors own 70.23% of the company’s stock.
Intevac (NASDAQ IVAC) traded up $0.10 during mid-day trading on Thursday, hitting $7.00. 219,588 shares of the stock were exchanged, compared to its average volume of 137,506. Intevac has a 52 week low of $6.20 and a 52 week high of $14.15. The firm has a market cap of $152.52, a P/E ratio of 23.33 and a beta of 0.85.
Intevac (NASDAQ:IVAC) last posted its quarterly earnings results on Monday, October 30th. The electronics maker reported $0.04 earnings per share (EPS) for the quarter. Intevac had a net margin of 5.97% and a return on equity of 8.80%. The company had revenue of $26.70 million during the quarter, compared to the consensus estimate of $25.50 million. During the same period last year, the firm earned ($0.02) EPS. The company’s revenue for the quarter was up 18.1% on a year-over-year basis. analysts anticipate that Intevac 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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