Equities analysts expect Intevac, Inc. (NASDAQ:IVAC) to post earnings per share (EPS) of ($0.13) for the current quarter, Zacks Investment Research reports. Two analysts have made estimates for Intevac’s earnings. The lowest EPS estimate is ($0.13) and the highest is ($0.12). Intevac posted earnings of $0.04 per share in the same quarter last year, which would suggest a negative year-over-year growth rate of 425%. The company is scheduled to report its next quarterly earnings results on Monday, October 29th.
On average, analysts expect that Intevac will report full-year earnings of ($0.25) per share for the current fiscal year, with EPS estimates ranging from ($0.27) to ($0.23). For the next fiscal year, analysts anticipate that the firm will report earnings of $0.17 per share, with EPS estimates ranging from $0.16 to $0.18. Zacks Investment Research’s EPS averages are a mean average based on a survey of analysts that that provide coverage for Intevac.
Intevac (NASDAQ:IVAC) last announced its quarterly earnings results on Monday, July 30th. The electronics maker reported ($0.01) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.12) by $0.11. The business had revenue of $26.10 million for the quarter, compared to the consensus estimate 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.
IVAC has been the topic of several recent research reports. ValuEngine downgraded Intevac from a “hold” rating to a “sell” rating in a report on Wednesday, July 4th. Zacks Investment Research raised Intevac from a “sell” rating to a “hold” rating in a report on Wednesday, July 4th. Benchmark raised Intevac from a “hold” rating to a “buy” rating and set a $6.00 target price on the stock in a research note on Tuesday, July 31st. Noble Financial reaffirmed a “hold” rating on shares of Intevac in a research note on Tuesday, July 31st. Finally, B. Riley cut their target price on Intevac from $6.50 to $5.00 and set a “neutral” rating on the stock in a research note on Tuesday, July 31st. One research analyst has rated the stock with a sell rating, four have given a hold rating and one has issued a buy rating to the company. The stock has a consensus rating of “Hold” and an average target price of $5.83.
A number of institutional investors have recently made changes to their positions in IVAC. Arnhold LLC bought a new stake in Intevac during the 1st quarter valued at $2,026,000. Dimensional Fund Advisors LP raised its stake 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 acquiring an additional 242,655 shares in the last quarter. Millennium Management LLC bought a new stake in shares of Intevac in the 2nd quarter worth $728,000. Paloma Partners Management Co bought a new stake in shares of Intevac in the 2nd quarter worth $472,000. Finally, GSA Capital Partners LLP raised its stake in shares of Intevac by 145.2% in the 1st quarter. GSA Capital Partners LLP now owns 129,434 shares of the electronics maker’s stock worth $893,000 after buying an additional 76,640 shares in the last quarter. 63.22% of the stock is currently owned by hedge funds and other institutional investors.
Shares of NASDAQ IVAC traded down $0.05 during mid-day trading on Wednesday, hitting $5.90. The company had a trading volume of 4,516 shares, compared to its average volume of 172,593. The company has a market cap of $130.42 million, a price-to-earnings ratio of 34.71 and a beta of 0.85. Intevac has a 12 month low of $4.50 and a 12 month high of $9.15.
Intevac announced that its Board of Directors has authorized a stock repurchase plan on Monday, August 20th that allows the company to buyback $10.00 million in outstanding shares. This buyback authorization allows the electronics maker to buy up to 8.8% of its shares through open market purchases. Shares buyback plans are generally a sign that the company’s board of directors believes its shares are undervalued.
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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