Intevac (IVAC) Cut to Sell at ValuEngine

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ValuEngine lowered shares of Intevac (NASDAQ:IVAC) from a hold rating to a sell rating in a research note issued to investors on Saturday.

A number of other research firms have also recently commented on IVAC. Maxim Group cut Intevac from a buy rating to a hold rating and lowered their target price for the company from $12.00 to $6.50 in a research note on Tuesday, May 1st. B. Riley cut Intevac from a buy rating to a neutral rating and lowered their target price for the company from $11.50 to $6.50 in a research note on Tuesday, May 1st. Noble Financial cut Intevac from a buy rating to a hold rating in a research note on Tuesday, May 1st. Zacks Investment Research raised Intevac from a sell rating to a hold rating in a research report on Wednesday, June 20th. Finally, TheStreet lowered Intevac from a c+ rating to a d+ rating in a research report on Monday, April 30th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and one has issued a buy rating to the stock. The stock presently has a consensus rating of Hold and a consensus target price of $5.83.

IVAC opened at $5.75 on Friday. The company has a market capitalization of $113.48 million, a PE ratio of 33.82 and a beta of 0.80. Intevac has a 52 week low of $4.50 and a 52 week high of $9.35.

Intevac (NASDAQ:IVAC) last released its earnings results on Monday, July 30th. The electronics maker reported ($0.01) EPS for the quarter, beating the Zacks’ consensus estimate of ($0.12) by $0.11. The company had revenue of $26.10 million during the quarter, compared to analysts’ expectations of $24.75 million. Intevac had a negative return on equity of 5.40% and a negative net margin of 4.30%. During the same quarter last year, the business posted $0.05 EPS. analysts expect that Intevac will post -0.25 earnings per share for the current year.

A number of hedge funds have recently bought and sold shares of the stock. Jane Street Group LLC bought a new position in Intevac during the 2nd quarter valued at approximately $113,000. Millennium Management LLC bought a new position in Intevac during the 2nd quarter valued at approximately $728,000. Paloma Partners Management Co bought a new position in Intevac during the 2nd quarter valued at approximately $472,000. Laurion Capital Management LP bought a new position in Intevac during the 2nd quarter valued at approximately $134,000. Finally, Dimensional Fund Advisors LP increased its position in Intevac by 24.5% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,231,623 shares of the electronics maker’s stock valued at $5,973,000 after buying an additional 242,655 shares in the last quarter. 64.58% of the stock is owned by institutional investors.

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. 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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To view ValuEngine’s full report, visit ValuEngine’s official website.

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