Intevac, Inc. (IVAC) Expected to Post Quarterly Sales of $24.90 Million

Equities analysts predict that Intevac, Inc. (NASDAQ:IVAC) will report $24.90 million in sales for the current fiscal quarter, Zacks Investment Research reports. Two analysts have made estimates for Intevac’s earnings, with the highest sales estimate coming in at $25.30 million and the lowest estimate coming in at $24.50 million. Intevac posted sales of $28.98 million during the same quarter last year, which suggests a negative year over year growth rate of 14.1%. The business is expected to report its next quarterly earnings results on Wednesday, February 7th.

According to Zacks, analysts expect that Intevac will report full-year sales of $24.90 million for the current fiscal year, with estimates ranging from $112.00 million to $112.58 million. For the next year, analysts expect that the firm will post sales of $138.50 million per share, with estimates ranging from $135.00 million to $142.00 million. Zacks’ sales calculations are a mean average based on a survey of sell-side analysts that cover Intevac.

Intevac (NASDAQ:IVAC) last posted its quarterly earnings data on Monday, October 30th. The electronics maker reported $0.04 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 quarter in the prior year, the company posted ($0.02) EPS. The company’s quarterly revenue was up 18.1% compared to the same quarter last year.

A number of research firms have recently commented on IVAC. Zacks Investment Research downgraded shares of Intevac from a “buy” rating to a “hold” rating in a research note on Wednesday, September 27th. B. Riley reiterated a “buy” rating and set a $14.00 target price on shares of Intevac in a report on Tuesday, October 31st. Benchmark reiterated a “hold” rating on shares of Intevac in a report on Tuesday, October 31st. Noble Financial upgraded Intevac from a “hold” rating to a “buy” rating in a report on Tuesday, October 31st. Finally, Maxim Group reiterated a “buy” rating and set a $13.00 target price on shares of Intevac in a report on Wednesday, October 11th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and four have issued a buy rating to the company. Intevac has an average rating of “Hold” and an average target price of $12.60.

Intevac (NASDAQ IVAC) traded up $0.10 during midday trading on Friday, hitting $7.00. 107,537 shares of the stock were exchanged, compared to its average volume of 171,472. Intevac has a one year low of $6.20 and a one year high of $14.15. The firm has a market cap of $150.34, a P/E ratio of 21.88 and a beta of 0.85.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Navellier & Associates Inc boosted its stake in shares of Intevac by 96.2% during the 2nd quarter. Navellier & Associates Inc now owns 48,614 shares of the electronics maker’s stock valued at $540,000 after buying an additional 23,835 shares during the last quarter. Bank of America Corp DE raised its position in shares of Intevac by 3.3% during the 1st quarter. Bank of America Corp DE now owns 30,897 shares of the electronics maker’s stock valued at $387,000 after acquiring an additional 1,000 shares in the last quarter. Vanguard Group Inc. raised its position in shares of Intevac by 4.9% during the 2nd quarter. Vanguard Group Inc. now owns 868,575 shares of the electronics maker’s stock valued at $9,641,000 after acquiring an additional 40,865 shares in the last quarter. PDT Partners LLC acquired a new stake in shares of Intevac during the 2nd quarter valued at approximately $706,000. Finally, Dynamic Technology Lab Private Ltd raised its position in shares of Intevac by 68.3% during the 3rd quarter. Dynamic Technology Lab Private Ltd now owns 45,992 shares of the electronics maker’s stock valued at $389,000 after acquiring an additional 18,668 shares in the last quarter. Hedge funds and other institutional investors own 70.10% 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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