Intevac, Inc. (IVAC) Stake Decreased by Bank of New York Mellon Corp
Bank of New York Mellon Corp decreased its stake in Intevac, Inc. (NASDAQ:IVAC) by 46.2% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 16,947 shares of the electronics maker’s stock after selling 14,572 shares during the period. Bank of New York Mellon Corp’s holdings in Intevac were worth $212,000 as of its most recent SEC filing.
Other hedge funds have also recently bought and sold shares of the company. Acadian Asset Management LLC purchased a new stake in Intevac during the first quarter valued at $127,000. Navellier & Associates Inc purchased a new stake in Intevac during the first quarter valued at $310,000. Russell Investments Group Ltd. raised its stake in Intevac by 1,164.3% in the first quarter. Russell Investments Group Ltd. now owns 29,004 shares of the electronics maker’s stock valued at $363,000 after buying an additional 26,710 shares during the last quarter. Algert Global LLC purchased a new stake in Intevac during the first quarter valued at $842,000. Finally, Essex Investment Management Co. LLC raised its stake in Intevac by 31.9% in the first quarter. Essex Investment Management Co. LLC now owns 150,851 shares of the electronics maker’s stock valued at $1,886,000 after buying an additional 36,471 shares during the last quarter. 66.07% of the stock is owned by institutional investors.
Shares of Intevac, Inc. (IVAC) opened at 9.05 on Thursday. The firm has a market cap of $197.13 million, a price-to-earnings ratio of 36.64 and a beta of 1.02. Intevac, Inc. has a one year low of $5.60 and a one year high of $14.15. The company has a 50 day moving average of $11.09 and a 200-day moving average of $11.65.
Intevac (NASDAQ:IVAC) last issued its quarterly earnings data on Monday, July 31st. The electronics maker reported $0.05 EPS for the quarter. The business had revenue of $31 million during the quarter, compared to the consensus estimate of $28.76 million. Intevac had a net margin of 4.68% and a return on equity of 7.29%. The firm’s revenue was up 108.1% compared to the same quarter last year. During the same quarter in the prior year, the firm earned ($0.18) EPS. On average, analysts expect that Intevac, Inc. will post $0.12 EPS for the current year.
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Several analysts have recently weighed in on IVAC shares. B. Riley reaffirmed a “buy” rating and set a $16.00 price objective on shares of Intevac in a report on Sunday, May 7th. Zacks Investment Research raised shares of Intevac from a “hold” rating to a “buy” rating and set a $13.00 price objective for the company in a report on Monday, July 17th. Roth Capital set a $14.00 price objective on shares of Intevac and gave the stock a “buy” rating in a report on Friday, July 28th. Maxim Group reaffirmed a “buy” rating and set a $15.00 price objective on shares of Intevac in a report on Tuesday, May 2nd. Finally, Noble Financial reaffirmed a “hold” rating on shares of Intevac in a report on Wednesday, August 2nd. Four analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and an average price target of $13.60.
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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