Intevac, Inc. (IVAC) Given Consensus Rating of “Buy” by Brokerages

Intevac, Inc. (NASDAQ:IVAC) has earned an average rating of “Buy” from the seven ratings firms that are currently covering the stock, MarketBeat reports. Three investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The average 12-month price target among brokers that have covered the stock in the last year is $5.75.

Several brokerages recently commented on IVAC. Zacks Investment Research cut Intevac from a “buy” rating to a “hold” rating in a report on Thursday, January 31st. TheStreet upgraded Intevac from a “d+” rating to a “c+” rating in a report on Wednesday, January 30th. ValuEngine upgraded Intevac from a “hold” rating to a “buy” rating in a report on Wednesday, February 27th. Finally, Benchmark reiterated a “buy” rating and issued a $7.00 target price on shares of Intevac in a report on Thursday, January 31st.

In related news, EVP Timothy Justyn sold 10,000 shares of the company’s stock in a transaction that occurred on Tuesday, February 5th. The stock was sold at an average price of $5.41, for a total value of $54,100.00. Following the sale, the executive vice president now directly owns 104,764 shares in the company, valued at $566,773.24. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 7.00% of the company’s stock.

Institutional investors and hedge funds have recently modified their holdings of the business. King Luther Capital Management Corp acquired a new position in Intevac in the fourth quarter valued at approximately $418,000. JPMorgan Chase & Co. lifted its stake in Intevac by 397.4% in the third quarter. JPMorgan Chase & Co. now owns 41,208 shares of the electronics maker’s stock valued at $214,000 after buying an additional 32,923 shares during the period. Dimensional Fund Advisors LP lifted its stake in Intevac by 8.2% in the third quarter. Dimensional Fund Advisors LP now owns 1,332,395 shares of the electronics maker’s stock valued at $6,928,000 after buying an additional 100,772 shares during the period. Vanguard Group Inc. lifted its stake in Intevac by 1.0% in the third quarter. Vanguard Group Inc. now owns 1,075,608 shares of the electronics maker’s stock valued at $5,593,000 after buying an additional 10,862 shares during the period. Finally, Vanguard Group Inc lifted its stake in Intevac by 1.0% in the third quarter. Vanguard Group Inc now owns 1,075,608 shares of the electronics maker’s stock valued at $5,593,000 after buying an additional 10,862 shares during the period. 60.58% of the stock is currently owned by hedge funds and other institutional investors.

Shares of IVAC stock opened at $5.08 on Friday. Intevac has a one year low of $4.21 and a one year high of $6.54. The company has a market capitalization of $114.80 million, a P/E ratio of -26.74 and a beta of 0.52.

Intevac (NASDAQ:IVAC) last announced its earnings results on Monday, April 29th. The electronics maker reported ($0.10) EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.16) by $0.06. Intevac had a negative return on equity of 2.04% and a net margin of 6.20%. The business had revenue of $24.83 million for the quarter, compared to analysts’ expectations of $23.50 million. On average, equities analysts predict that Intevac will post 0.03 EPS for the current fiscal year.

About Intevac

Intevac, Inc provides vacuum deposition equipment for various thin-film applications, and digital night-vision technologies and products to the defense industry in the United States, Asia, Europe, and internationally. The company operates through two segments, Thin-Film Equipment and Photonics. The Thin-Film Equipment segment designs and develops thin-film processing systems that are applied in hard disk drive media, display cover panel, and solar photovoltaic markets.

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