Vanguard Group Inc. Sells 123,340 Shares of Intevac, Inc. (IVAC)
Vanguard Group Inc. decreased its position in Intevac, Inc. (NASDAQ:IVAC) by 13.0% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 827,710 shares of the electronics maker’s stock after selling 123,340 shares during the period. Vanguard Group Inc. owned about 3.87% of Intevac worth $10,347,000 as of its most recent SEC filing.
Other large investors have also recently added to or reduced their stakes in the company. Acadian Asset Management LLC purchased a new stake in Intevac during the first quarter worth $127,000. Russell Investments Group Ltd. increased 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 worth $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 worth $842,000. Acrospire Investment Management LLC increased its stake in Intevac by 218.2% in the first quarter. Acrospire Investment Management LLC now owns 17,075 shares of the electronics maker’s stock worth $213,000 after buying an additional 11,709 shares during the last quarter. Finally, Ameriprise Financial Inc. purchased a new stake in Intevac during the first quarter worth $431,000. Institutional investors own 70.03% of the company’s stock.
Shares of Intevac, Inc. (NASDAQ:IVAC) remained flat at $9.10 during midday trading on Friday. The company’s stock had a trading volume of 65,014 shares. The stock has a 50 day moving average price of $9.92 and a 200-day moving average price of $11.58. Intevac, Inc. has a 1-year low of $5.60 and a 1-year high of $14.15. The stock has a market capitalization of $198.22 million, a PE ratio of 36.84 and a beta of 1.06.
Intevac (NASDAQ:IVAC) last announced its earnings results on Monday, July 31st. The electronics maker reported $0.05 earnings per share (EPS) for the quarter. The business had revenue of $31 million during the quarter, compared to analyst estimates of $28.76 million. Intevac had a return on equity of 7.29% and a net margin of 4.68%. Intevac’s revenue for the quarter was up 108.1% compared to the same quarter last year. During the same period last year, the company earned ($0.18) EPS. On average, equities research analysts expect that Intevac, Inc. will post $0.12 EPS for the current fiscal year.
IVAC has been the subject of a number of recent research reports. B. Riley restated a “buy” rating and set a $16.00 target price on shares of Intevac in a research report on Sunday, May 7th. Zacks Investment Research cut Intevac from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, July 5th. BidaskClub raised Intevac from a “sell” rating to a “hold” rating in a research note on Wednesday, July 12th. Roth Capital set a $14.00 price objective on Intevac and gave the stock a “buy” rating in a research note on Friday, July 28th. Finally, Benchmark Co. reaffirmed a “hold” rating on shares of Intevac in a research note on Tuesday, August 1st. Four research analysts have rated the stock with a hold rating and four have given a buy rating to the company. The stock has an average rating of “Buy” and an average target price of $13.60.
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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