Navellier & Associates Inc lifted its stake in shares of Intevac, Inc. (NASDAQ:IVAC) by 96.2% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 48,614 shares of the electronics maker’s stock after purchasing an additional 23,835 shares during the quarter. Navellier & Associates Inc owned about 0.22% of Intevac worth $540,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors also recently modified their holdings of the stock. Dynamic Technology Lab Private Ltd raised its position in Intevac by 19.4% in the second quarter. Dynamic Technology Lab Private Ltd now owns 27,324 shares of the electronics maker’s stock worth $304,000 after acquiring an additional 4,446 shares in the last quarter. California State Teachers Retirement System bought a new stake in Intevac in the second quarter worth about $382,000. The Manufacturers Life Insurance Company raised its position in Intevac by 1,393.9% in the second quarter. The Manufacturers Life Insurance Company now owns 17,568 shares of the electronics maker’s stock worth $195,000 after acquiring an additional 16,392 shares in the last quarter. Arrowstreet Capital Limited Partnership raised its position in Intevac by 100.3% in the second quarter. Arrowstreet Capital Limited Partnership now owns 40,342 shares of the electronics maker’s stock worth $448,000 after acquiring an additional 20,200 shares in the last quarter. Finally, Cubist Systematic Strategies LLC bought a new stake in Intevac in the second quarter worth about $191,000. Institutional investors and hedge funds own 69.76% of the company’s stock.
Intevac, Inc. (IVAC) traded up 3.11% during trading on Friday, reaching $8.30. The company’s stock had a trading volume of 31,478 shares. The stock’s 50 day moving average is $8.42 and its 200-day moving average is $10.82. Intevac, Inc. has a 52 week low of $5.60 and a 52 week high of $14.15. The firm has a market cap of $180.79 million, a P/E ratio of 33.60 and a beta of 1.04.
Intevac (NASDAQ:IVAC) last announced its quarterly earnings data on Monday, July 31st. The electronics maker reported $0.05 earnings per share for the quarter. Intevac had a return on equity of 7.29% and a net margin of 4.68%. The business had revenue of $31.00 million during the quarter, compared to analyst estimates of $28.76 million. During the same period in the prior year, the company earned ($0.18) earnings per share. Intevac’s revenue was up 108.1% compared to the same quarter last year. On average, equities research analysts forecast that Intevac, Inc. will post $0.12 earnings per share for the current fiscal year.
Several brokerages have commented on IVAC. Maxim Group reiterated a “buy” rating and issued a $14.00 price target on shares of Intevac in a research report on Friday. B. Riley reiterated a “buy” rating and issued a $16.00 price target on shares of Intevac in a research report on Tuesday, August 1st. Zacks Investment Research cut Intevac from a “buy” rating to a “hold” rating in a research note on Wednesday, September 27th. Benchmark Co. reissued a “hold” rating on shares of Intevac in a research note on Tuesday, August 1st. Finally, Noble Financial reissued a “hold” rating on shares of Intevac in a research note on Wednesday, August 2nd. Five analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus price target of $13.40.
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Intevac Company Profile
Intevac, Inc (Intevac) is a provider of vacuum deposition equipment for a range of thin-film applications, and digital night-vision technologies and products to the defense industry. The Company’s segments include Thin-film Equipment and Photonics. The Company designs, manufactures, markets and services capital equipment used to deposit thin films and lubricants onto substrates to produce magnetic disks that are used in hard disk drives.
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