Intevac, Inc. (NASDAQ:IVAC) CEO Wendell Thomas Blonigan purchased 10,000 shares of Intevac stock in a transaction that occurred on Monday, December 3rd. The shares were bought at an average cost of $4.75 per share, with a total value of $47,500.00. Following the completion of the transaction, the chief executive officer now directly owns 247,503 shares of the company’s stock, valued at approximately $1,175,639.25. The purchase was disclosed in a document filed with the SEC, which is accessible through this hyperlink.
NASDAQ IVAC traded down $0.13 during trading hours on Thursday, hitting $4.49. 1,400 shares of the company traded hands, compared to its average volume of 45,141. Intevac, Inc. has a twelve month low of $4.21 and a twelve month high of $7.55. The stock has a market capitalization of $105.40 million, a PE ratio of 26.71 and a beta of 0.92.
Intevac (NASDAQ:IVAC) last released its quarterly earnings data on Monday, October 29th. The electronics maker reported ($0.05) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.13) by $0.08. The firm had revenue of $19.47 million for the quarter, compared to analyst estimates of $18.75 million. Intevac had a negative return on equity of 8.00% and a negative net margin of 7.30%. As a group, sell-side analysts forecast that Intevac, Inc. will post -0.22 earnings per share for the current fiscal year.
Intevac declared that its Board of Directors has authorized a share buyback program on Monday, August 20th that permits the company to buyback $10.00 million in outstanding shares. This buyback authorization permits the electronics maker to buy up to 8.8% of its stock through open market purchases. Stock buyback programs are typically an indication that the company’s management believes its shares are undervalued.
Several brokerages recently commented on IVAC. ValuEngine raised Intevac from a “sell” rating to a “hold” rating in a research report on Wednesday. Zacks Investment Research cut Intevac from a “buy” rating to a “hold” rating in a research report on Thursday, October 18th. Finally, Maxim Group reissued a “hold” rating on shares of Intevac in a research report on Tuesday, October 30th. Four analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. Intevac presently has a consensus rating of “Hold” and a consensus target price of $5.63.
Several hedge funds and other institutional investors have recently made changes to their positions in IVAC. Vanguard Group Inc. increased its stake in Intevac by 1.0% during the 3rd quarter. Vanguard Group Inc. now owns 1,075,608 shares of the electronics maker’s stock worth $5,593,000 after acquiring an additional 10,862 shares during the period. Schneider Capital Management Corp boosted its holdings in shares of Intevac by 4.1% in the 3rd quarter. Schneider Capital Management Corp now owns 454,935 shares of the electronics maker’s stock valued at $2,366,000 after purchasing an additional 17,830 shares in the last quarter. Jane Street Group LLC acquired a new stake in shares of Intevac in the 2nd quarter valued at $113,000. Laurion Capital Management LP acquired a new stake in shares of Intevac in the 2nd quarter valued at $134,000. Finally, JPMorgan Chase & Co. boosted its holdings in shares of Intevac by 397.4% in the 3rd quarter. JPMorgan Chase & Co. now owns 41,208 shares of the electronics maker’s stock valued at $214,000 after purchasing an additional 32,923 shares in the last quarter. Institutional investors own 59.47% of the company’s stock.
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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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