Matrexcoin (MAC) Price Hits $0.0634 Intevac (NASDAQ:IVAC) Rating Lowered to Hold at Zacks Investment Research Intevac (NASDAQ:IVAC) Rating Lowered to Hold at Zacks Investment Research - Filed Under - by Trevor Kearing Tweet
Zacks Investment Research lowered shares of Intevac (NASDAQ:IVAC) from a buy rating to a hold rating in a report issued on Saturday morning, Zacks.com reports.
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. “ Get Intevac alerts:
Separately, B. Riley upgraded Intevac from a neutral rating to a buy rating and lifted their target price for the company from $5.50 to $7.00 in a research note on Tuesday, July 30th. Two investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. The company currently has a consensus rating of Buy and an average target price of $6.42. NASDAQ:IVAC opened at $5.03 on Friday. The firm has a market capitalization of $116.38 million, a P/E ratio of -26.47 and a beta of 0.21. Intevac has a one year low of $4.21 and a one year high of $6.54. The stock has a 50-day moving average price of $4.91. The company has a quick ratio of 2.25, a current ratio of 3.53 and a debt-to-equity ratio of 0.11.
Intevac (NASDAQ:IVAC) last posted its quarterly earnings results on Monday, July 29th. The electronics maker reported ($0.05) EPS for the quarter, topping the Zacks’ consensus estimate of ($0.09) by $0.04. The business had revenue of $22.31 million during the quarter, compared to the consensus estimate of $20.50 million. Intevac had a negative return on equity of 3.16% and a net margin of 5.41%. During the same period last year, the firm earned ($0.01) earnings per share.
Hedge funds have recently modified their holdings of the business. Spark Investment Management LLC bought a new stake in shares of Intevac during the first quarter valued at approximately $93,000. Insight Wealth Strategies LLC bought a new stake in shares of Intevac during the second quarter valued at approximately $121,000. Wells Fargo & Company MN raised its holdings in shares of Intevac by 10.9% during the second quarter. Wells Fargo & Company MN now owns 27,173 shares of the electronics maker’s stock valued at $131,000 after buying an additional 2,672 shares during the last quarter. D. E. Shaw & Co. Inc. raised its holdings in shares of Intevac by 98.6% during the fourth quarter. D. E. Shaw & Co. Inc. now owns 38,642 shares of the electronics maker’s stock valued at $202,000 after buying an additional 19,189 shares during the last quarter. Finally, Bank of America Corp DE raised its holdings in shares of Intevac by 370.0% during the fourth quarter. Bank of America Corp DE now owns 94,000 shares of the electronics maker’s stock valued at $492,000 after buying an additional 74,000 shares during the last quarter. Institutional investors own 64.92% of the company’s stock.
Intevac Company Profile
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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