-$0.13 EPS Expected for Intevac, Inc. (IVAC) This Quarter

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Equities research analysts expect that Intevac, Inc. (NASDAQ:IVAC) will announce earnings per share of ($0.13) for the current quarter, Zacks Investment Research reports. Two analysts have issued estimates for Intevac’s earnings, with the highest EPS estimate coming in at ($0.12) and the lowest estimate coming in at ($0.13). Intevac reported earnings per share of $0.04 in the same quarter last year, which suggests a negative year over year growth rate of 425%. The business is scheduled to report its next quarterly earnings results on Monday, October 29th.

According to Zacks, 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 financial year, analysts anticipate that the business will post earnings of $0.17 per share, with EPS estimates ranging from $0.16 to $0.18. Zacks Investment Research’s earnings per share calculations are a mean average based on a survey of research firms that cover Intevac.

Intevac (NASDAQ:IVAC) last released its quarterly earnings data on Monday, July 30th. The electronics maker reported ($0.01) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.12) by $0.11. The business had revenue of $26.10 million for 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 period in the previous year, the business posted $0.05 earnings per share.

A number of analysts have recently issued reports on the company. ValuEngine cut Intevac from a “hold” rating to a “sell” rating in a research report on Saturday, August 18th. Noble Financial restated a “hold” rating on shares of Intevac in a research report on Tuesday, July 31st. B. Riley lowered their price objective on Intevac from $6.50 to $5.00 and set a “neutral” rating on the stock in a research report on Tuesday, July 31st. Benchmark upgraded Intevac from a “hold” rating to a “buy” rating and set a $6.00 price target on the stock in a research report on Tuesday, July 31st. Finally, Zacks Investment Research upgraded Intevac from a “sell” rating to a “hold” rating in a research report on Wednesday, July 4th. One analyst has rated the stock with a sell rating, four have issued a hold rating and one has assigned a buy rating to the company’s stock. Intevac currently has a consensus rating of “Hold” and a consensus price target of $5.83.

A number of large investors have recently made changes to their positions in the business. Dimensional Fund Advisors LP grew its holdings in shares of Intevac by 10.6% during the first 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 during the last quarter. Mackay Shields LLC bought a new stake in shares of Intevac during the first quarter worth $126,000. LMR Partners LLP bought a new stake in shares of Intevac during the second quarter worth $275,000. Arnhold LLC bought a new stake in shares of Intevac during the first quarter worth $2,026,000. Finally, Shepherd Kaplan Krochuk LLC acquired a new position in shares of Intevac during the first quarter valued at $148,000. Hedge funds and other institutional investors own 63.22% of the company’s stock.

Shares of IVAC traded down $0.05 on Friday, reaching $5.05. 80,768 shares of the stock traded hands, compared to its average volume of 100,859. The stock has a market cap of $115.18 million, a PE ratio of 29.71 and a beta of 0.86. 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 share repurchase plan on Monday, August 20th that authorizes the company to repurchase $10.00 million in outstanding shares. This repurchase authorization authorizes the electronics maker to repurchase up to 8.8% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s board of directors believes its stock is undervalued.

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. 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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