Intevac (NASDAQ:IVAC) Raised to Buy at B. Riley

B. Riley upgraded shares of Intevac (NASDAQ:IVAC) from a neutral rating to a buy rating in a research report report published on Tuesday, BenzingaRatingsTable reports. They currently have $7.00 price objective on the electronics maker’s stock, up from their previous price objective of $5.50. B. Riley also issued estimates for Intevac’s Q3 2019 earnings at ($0.07) EPS, FY2019 earnings at $0.00 EPS, Q1 2020 earnings at $0.08 EPS, Q2 2020 earnings at $0.08 EPS, Q3 2020 earnings at $0.07 EPS, Q4 2020 earnings at $0.12 EPS and FY2020 earnings at $0.34 EPS.

Separately, Zacks Investment Research upgraded shares of Intevac from a hold rating to a buy rating and set a $5.25 price target on the stock in a research report on Wednesday, July 3rd. Two research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. Intevac has an average rating of Buy and a consensus target price of $6.42.

NASDAQ IVAC opened at $5.14 on Tuesday. The company has a market capitalization of $120.08 million, a PE ratio of -27.05 and a beta of 0.27. The company has a 50-day simple moving average of $4.88. Intevac has a twelve month low of $4.21 and a twelve month high of $6.54. The company has a debt-to-equity ratio of 0.11, a quick ratio of 2.25 and a current ratio of 3.53.

Intevac (NASDAQ:IVAC) last released its quarterly earnings results on Monday, July 29th. The electronics maker reported ($0.05) EPS for the quarter, beating the Zacks’ consensus estimate of ($0.09) by $0.04. The firm had revenue of $22.31 million for the quarter, compared to analyst estimates of $20.50 million. Intevac had a net margin of 5.41% and a negative return on equity of 3.16%. During the same period in the previous year, the business earned ($0.01) earnings per share.

In other news, CFO James P. Moniz purchased 10,000 shares of Intevac stock in a transaction on Tuesday, May 7th. The shares were purchased at an average cost of $5.24 per share, for a total transaction of $52,400.00. Following the completion of the transaction, the chief financial officer now directly owns 84,411 shares in the company, valued at $442,313.64. The purchase was disclosed in a document filed with the SEC, which is available through this hyperlink. 7.00% of the stock is owned by insiders.

A number of large investors have recently added to or reduced their stakes in the business. Dimensional Fund Advisors LP boosted its position in Intevac by 3.1% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,373,726 shares of the electronics maker’s stock valued at $7,185,000 after buying an additional 41,331 shares in the last quarter. Hillsdale Investment Management Inc. lifted its position in shares of Intevac by 24.6% during the second quarter. Hillsdale Investment Management Inc. now owns 125,415 shares of the electronics maker’s stock worth $607,000 after purchasing an additional 24,800 shares in the last quarter. Alambic Investment Management L.P. acquired a new position in shares of Intevac during the first quarter worth approximately $660,000. Bank of America Corp DE lifted its position 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 worth $492,000 after purchasing an additional 74,000 shares in the last quarter. Finally, D. E. Shaw & Co. Inc. lifted its position 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 worth $202,000 after purchasing an additional 19,189 shares in the last quarter. Hedge funds and other institutional investors own 64.95% of the company’s stock.

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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