Intevac, Inc. (NASDAQ:IVAC) shares hit a new 52-week low during mid-day trading on Thursday . The company traded as low as $4.48 and last traded at $4.53, with a volume of 2250 shares changing hands. The stock had previously closed at $4.56.
IVAC has been the subject of a number of research analyst reports. Zacks Investment Research raised shares of Intevac from a “sell” rating to a “hold” rating in a report on Wednesday, June 20th. ValuEngine cut shares of Intevac from a “hold” rating to a “sell” rating in a report on Wednesday, July 4th. Benchmark raised shares of Intevac from a “hold” rating to a “buy” rating and set a $6.00 target price for the company in a report on Tuesday, July 31st. B. Riley dropped their target price on shares of Intevac from $6.50 to $5.00 and set a “neutral” rating for the company in a report on Tuesday, July 31st. Finally, Noble Financial reaffirmed a “hold” rating on shares of Intevac in a report on Tuesday, July 31st. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and one has issued a buy rating to the company. Intevac currently has an average rating of “Hold” and an average target price of $5.83.
Get Intevac alerts:The company has a market capitalization of $117.43 million, a price-to-earnings ratio of 27.94 and a beta of 0.90.
Intevac (NASDAQ:IVAC) last issued its quarterly earnings data on Monday, July 30th. The electronics maker reported ($0.01) earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.12) by $0.11. Intevac had a negative net margin of 4.30% and a negative return on equity of 5.40%. The business had revenue of $26.10 million during the quarter, compared to analysts’ expectations of $24.75 million. During the same period last year, the company posted $0.05 EPS. Equities analysts anticipate that Intevac, Inc. will post -0.25 EPS for the current fiscal year.
Intevac declared that its Board of Directors has authorized a share buyback program on Monday, August 20th that allows the company to buyback $10.00 million in shares. This buyback authorization allows the electronics maker to purchase up to 8.8% of its shares through open market purchases. Shares buyback programs are often an indication that the company’s board of directors believes its stock is undervalued.
Several institutional investors and hedge funds have recently modified their holdings of IVAC. JPMorgan Chase & Co. increased its stake in shares of Intevac by 243.4% during the 1st quarter. JPMorgan Chase & Co. now owns 25,553 shares of the electronics maker’s stock worth $177,000 after purchasing an additional 18,111 shares in the last quarter. Dimensional Fund Advisors LP increased its stake in shares of Intevac by 10.6% during the 1st quarter. Dimensional Fund Advisors LP now owns 988,968 shares of the electronics maker’s stock worth $6,824,000 after purchasing an additional 94,884 shares in the last quarter. GSA Capital Partners LLP increased its stake in shares of Intevac by 145.2% during the 1st quarter. GSA Capital Partners LLP now owns 129,434 shares of the electronics maker’s stock worth $893,000 after purchasing an additional 76,640 shares in the last quarter. LMR Partners LLP purchased a new position in shares of Intevac during the 2nd quarter worth approximately $275,000. Finally, Laurion Capital Management LP purchased a new position in shares of Intevac during the 2nd quarter worth approximately $134,000. 63.22% of the stock is owned by institutional investors and hedge funds.
Intevac Company Profile (NASDAQ:IVAC)
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. It operates in two segments, Thin-Film Equipment and Photonics. The Thin-film Equipment segment designs, manufactures, markets, and services disk sputtering, etch and deposition, and disk lubrication systems; and offers upgrades, spares, and consumables, as well as provides process and applications support, customer training, installation, start-up assistance, and post-installation support services.
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