Wall Street brokerages forecast that Intevac, Inc. (NASDAQ:IVAC) will announce $17.90 million in sales for the current quarter, Zacks Investment Research reports. Two analysts have issued estimates for Intevac’s earnings. The lowest sales estimate is $17.80 million and the highest is $18.00 million. Intevac reported sales of $30.39 million in the same quarter last year, which would indicate a negative year-over-year growth rate of 41.1%. The company is expected to issue its next quarterly earnings report on Monday, May 7th.
According to Zacks, analysts expect that Intevac will report full-year sales of $17.90 million for the current fiscal year, with estimates ranging from $124.20 million to $124.50 million. For the next fiscal year, analysts expect that the business will post sales of $150.00 million per share. Zacks Investment Research’s sales averages are an average based on a survey of sell-side research firms that that provide coverage for Intevac.
Intevac (NASDAQ:IVAC) last issued its earnings results on Wednesday, January 31st. The electronics maker reported $0.00 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.01) by $0.01. The business had revenue of $24.80 million for the quarter, compared to analyst estimates of $24.80 million. Intevac had a net margin of 3.65% and a return on equity of 4.89%. Intevac’s revenue was down 14.5% on a year-over-year basis. During the same period in the prior year, the firm earned $0.13 earnings per share.
Several brokerages recently issued reports on IVAC. ValuEngine lowered shares of Intevac from a “hold” rating to a “sell” rating in a research note on Thursday, February 8th. Maxim Group reissued a “buy” rating and set a $12.00 target price on shares of Intevac in a research note on Thursday, February 1st. B. Riley reissued a “buy” rating and set a $11.50 target price (down from $14.00) on shares of Intevac in a research note on Thursday, February 1st. Noble Financial reissued a “buy” rating on shares of Intevac in a research note on Thursday, January 18th. Finally, Zacks Investment Research raised shares of Intevac from a “sell” rating to a “hold” rating in a research note on Wednesday, January 3rd. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and four have issued a buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus price target of $12.10.
In other Intevac news, Director David S. Dury acquired 5,000 shares of the company’s stock in a transaction on Friday, February 9th. The shares were purchased at an average cost of $6.23 per share, with a total value of $31,150.00. Following the completion of the purchase, the director now owns 34,000 shares of the company’s stock, valued at $211,820. The acquisition was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, major shareholder April Fund Ltd. 21 acquired 45,908 shares of the company’s stock in a transaction on Friday, February 2nd. The stock was acquired at an average cost of $6.56 per share, for a total transaction of $301,156.48. The disclosure for this purchase can be found here. Insiders acquired 305,386 shares of company stock worth $1,979,163 over the last ninety days. Insiders own 13.90% of the company’s stock.
Several institutional investors have recently added to or reduced their stakes in IVAC. Schwab Charles Investment Management Inc. bought a new position in shares of Intevac in the second quarter valued at $363,000. Bank of New York Mellon Corp lifted its stake in shares of Intevac by 234.9% in the second quarter. Bank of New York Mellon Corp now owns 56,761 shares of the electronics maker’s stock valued at $630,000 after buying an additional 39,814 shares in the last quarter. Teachers Advisors LLC bought a new position in shares of Intevac in the second quarter valued at $382,000. TIAA CREF Investment Management LLC bought a new position in shares of Intevac in the second quarter valued at $577,000. Finally, Nationwide Fund Advisors lifted its stake in shares of Intevac by 695.2% in 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 in the last quarter. 70.17% of the stock is currently owned by hedge funds and other institutional investors.
Shares of Intevac (NASDAQ IVAC) traded down $0.10 during midday trading on Tuesday, reaching $6.20. 185,751 shares of the company traded hands, compared to its average volume of 121,138. The company has a market capitalization of $136.77, a price-to-earnings ratio of 34.44 and a beta of 0.90. Intevac has a fifty-two week low of $6.10 and a fifty-two week high of $14.15.
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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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