Intevac (NASDAQ:IVAC) Downgraded by Zacks Investment Research to “Sell”

Intevac (NASDAQ:IVAC) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research note issued on Thursday, December 21st.

According to Zacks, “Intevac, Inc. is a leading supplier of static sputtering systems and related manufacturing equipment used to manufacture thin-film disks for computer hard disk drives. Sputtering is a complex vacuum deposition process used to deposit multiple thin-film layers on a disk. The company’s primary objective is to be the industry leader in supplying disk sputtering equipment by providing disk sputtering systems which have both the highest overall performance and the lowest cost of ownership in the industry. “

A number of other equities analysts also recently issued reports on the stock. B. Riley reissued a “buy” rating and issued a $14.00 price target on shares of Intevac in a research note on Tuesday, October 31st. Benchmark reaffirmed a “hold” rating on shares of Intevac in a research note on Tuesday, October 31st. Noble Financial raised shares of Intevac from a “hold” rating to a “buy” rating in a research note on Tuesday, October 31st. Finally, Maxim Group reaffirmed a “buy” rating and set a $12.00 target price on shares of Intevac in a research note on Friday, October 27th. Three equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. The company currently has a consensus rating of “Buy” and an average price target of $12.60.

Shares of Intevac (NASDAQ:IVAC) traded down $0.05 during trading hours on Thursday, hitting $6.75. 46,518 shares of the stock traded hands, compared to its average volume of 128,291. Intevac has a 52-week low of $6.20 and a 52-week high of $14.15. The company has a market capitalization of $147.08, a P/E ratio of 21.09 and a beta of 0.85.

Intevac (NASDAQ:IVAC) last released its quarterly earnings results on Monday, October 30th. The electronics maker reported $0.04 earnings per share (EPS) for the quarter. Intevac had a net margin of 5.97% and a return on equity of 8.80%. The company had revenue of $26.70 million during the quarter, compared to the consensus estimate of $25.50 million. During the same period in the prior year, the firm earned ($0.02) earnings per share. Intevac’s revenue was up 18.1% on a year-over-year basis. equities research analysts forecast that Intevac will post 0.12 earnings per share for the current year.

Several large investors have recently bought and sold shares of the company. Bank of America Corp DE grew its holdings in shares of Intevac by 3.3% during the first quarter. Bank of America Corp DE now owns 30,897 shares of the electronics maker’s stock valued at $387,000 after buying an additional 1,000 shares during the last quarter. Dynamic Technology Lab Private Ltd grew its holdings in shares of Intevac by 19.4% during the second quarter. Dynamic Technology Lab Private Ltd now owns 27,324 shares of the electronics maker’s stock valued at $304,000 after buying an additional 4,446 shares during the last quarter. D.A. Davidson & CO. purchased a new stake in shares of Intevac during the second quarter valued at approximately $117,000. Nationwide Fund Advisors grew its holdings in shares of Intevac by 695.2% during the second quarter. Nationwide Fund Advisors now owns 12,350 shares of the electronics maker’s stock valued at $137,000 after buying an additional 10,797 shares during the last quarter. Finally, Geode Capital Management LLC grew its holdings in shares of Intevac by 14.5% during the first quarter. Geode Capital Management LLC now owns 127,558 shares of the electronics maker’s stock valued at $1,593,000 after buying an additional 16,151 shares during the last quarter. Hedge funds and other institutional investors own 70.11% of the company’s stock.

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About Intevac

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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