Maxim Group Reaffirms Buy Rating for Intevac, Inc. (IVAC)
Intevac, Inc. (NASDAQ:IVAC)‘s stock had its “buy” rating restated by analysts at Maxim Group in a report issued on Friday. They presently have a $12.00 target price on the electronics maker’s stock. Maxim Group’s target price would indicate a potential upside of 44.58% from the company’s previous close.
Other research analysts also recently issued research reports about the company. B. Riley restated a “buy” rating and set a $16.00 price target on shares of Intevac in a report on Tuesday, August 1st. BidaskClub upgraded Intevac from a “sell” rating to a “hold” rating in a report on Wednesday, July 12th. Zacks Investment Research downgraded Intevac from a “strong-buy” rating to a “hold” rating in a report on Wednesday, July 5th. Noble Financial restated a “hold” rating on shares of Intevac in a report on Wednesday, August 2nd. Finally, Benchmark Co. restated a “hold” rating on shares of Intevac in a report on Tuesday, August 1st. Four research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. The company currently has an average rating of “Buy” and an average price target of $13.00.
Intevac (IVAC) traded up 1.20% during trading on Friday, reaching $8.40. The company’s stock had a trading volume of 149,316 shares. The stock has a 50-day moving average price of $8.41 and a 200 day moving average price of $10.70. The company has a market cap of $182.97 million, a PE ratio of 34.01 and a beta of 1.05. Intevac has a 52-week low of $5.60 and a 52-week high of $14.15.
Intevac (NASDAQ:IVAC) last released its earnings results on Monday, October 30th. The electronics maker reported $0.04 earnings per share for the quarter. Intevac had a return on equity of 7.29% and a net margin of 4.68%. The company had revenue of $26.70 million during the quarter, compared to analyst estimates of $25.50 million. During the same quarter in the previous year, the company posted ($0.02) EPS. Intevac’s revenue for the quarter was up 18.1% on a year-over-year basis. On average, analysts expect that Intevac will post $0.12 EPS for the current year.
A number of hedge funds have recently added to or reduced their stakes in IVAC. Russell Investments Group Ltd. lifted its position in Intevac by 1,164.3% in the 1st quarter. Russell Investments Group Ltd. now owns 29,004 shares of the electronics maker’s stock valued at $363,000 after acquiring an additional 26,710 shares in the last quarter. Ameriprise Financial Inc. bought a new position in Intevac in the 1st quarter valued at approximately $431,000. Geode Capital Management LLC lifted its position in Intevac by 14.5% in the 1st quarter. Geode Capital Management LLC now owns 127,558 shares of the electronics maker’s stock valued at $1,593,000 after acquiring an additional 16,151 shares in the last quarter. Renaissance Technologies LLC lifted its position in Intevac by 36.2% in the 1st quarter. Renaissance Technologies LLC now owns 510,485 shares of the electronics maker’s stock valued at $6,381,000 after acquiring an additional 135,632 shares in the last quarter. Finally, Bank of America Corp DE lifted its position in Intevac by 3.3% in the 1st quarter. Bank of America Corp DE now owns 30,897 shares of the electronics maker’s stock valued at $387,000 after acquiring an additional 1,000 shares in the last quarter. 69.76% of the stock is currently owned by institutional investors and hedge funds.
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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