Intevac (IVAC) Downgraded by Zacks Investment Research to Sell
Zacks Investment Research cut shares of Intevac (NASDAQ:IVAC) from a hold rating to a sell rating in a research report sent to investors on Thursday morning.
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. “
Other analysts have also recently issued research reports about the stock. B. Riley reiterated a buy rating and issued a $14.00 price objective on shares of Intevac in a research note on Tuesday, October 31st. Benchmark reiterated a hold rating on shares of Intevac in a research note on Tuesday, October 31st. Maxim Group reiterated a buy rating and issued a $12.00 price objective on shares of Intevac in a research note on Friday, October 27th. Finally, Noble Financial upgraded shares of Intevac from a hold rating to a buy rating in a research note on Tuesday, October 31st. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and four have given a buy rating to the stock. Intevac currently has an average rating of Hold and an average price target of $12.60.
Shares of Intevac (NASDAQ:IVAC) opened at $7.00 on Thursday. The firm has a market cap of $152.52, a PE ratio of 21.88 and a beta of 0.85. Intevac has a fifty-two week low of $6.20 and a fifty-two week high of $14.15.
Intevac (NASDAQ:IVAC) last announced its quarterly earnings data on Monday, October 30th. The electronics maker reported $0.04 EPS for the quarter. Intevac had a net margin of 5.97% and a return on equity of 8.80%. The firm had revenue of $26.70 million during the quarter, compared to analysts’ expectations of $25.50 million. During the same quarter last year, the business earned ($0.02) earnings per share. The business’s revenue for the quarter was up 18.1% compared to the same quarter last year. analysts predict that Intevac will post 0.12 earnings per share for the current fiscal year.
Hedge funds and other institutional investors have recently made changes to their positions in the stock. State Street Corp raised its position in Intevac by 1,307.7% during the second quarter. State Street Corp now owns 246,157 shares of the electronics maker’s stock worth $2,732,000 after acquiring an additional 228,670 shares during the last quarter. OxFORD Asset Management LLP raised its position in Intevac by 835.4% during the second quarter. OxFORD Asset Management LLP now owns 217,312 shares of the electronics maker’s stock worth $2,412,000 after acquiring an additional 194,081 shares during the last quarter. Algert Global LLC raised its position in Intevac by 65.6% during the third quarter. Algert Global LLC now owns 248,552 shares of the electronics maker’s stock worth $2,100,000 after acquiring an additional 98,468 shares during the last quarter. Marshall Wace North America L.P. acquired a new position in Intevac during the second quarter worth about $1,074,000. Finally, QS Investors LLC acquired a new position in Intevac during the second quarter worth about $963,000. Hedge funds and other institutional investors own 70.10% of the company’s stock.
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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