Intevac (IVAC) Announces Earnings Results

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Intevac (NASDAQ:IVAC) posted its quarterly earnings data on Monday. The electronics maker reported ($0.05) EPS for the quarter, beating analysts’ consensus estimates of ($0.13) by $0.08, MarketWatch Earnings reports. Intevac had a negative net margin of 7.30% and a negative return on equity of 7.99%. The company had revenue of $19.47 million during the quarter, compared to analyst estimates of $18.75 million.

Shares of NASDAQ IVAC traded down $0.01 during mid-day trading on Wednesday, reaching $4.69. The company had a trading volume of 7,100 shares, compared to its average volume of 90,784. The firm has a market capitalization of $98.92 million, a price-to-earnings ratio of 27.59 and a beta of 0.90. Intevac has a 12-month low of $4.21 and a 12-month high of $9.15.

Intevac announced that its board has initiated a share repurchase program on Monday, August 20th that authorizes the company to repurchase $10.00 million in shares. This repurchase authorization authorizes the electronics maker to repurchase up to 8.8% of its shares through open market purchases. Shares repurchase programs are typically a sign that the company’s board of directors believes its shares are undervalued.

A number of analysts have recently issued reports on the stock. Zacks Investment Research lowered shares of Intevac from a “buy” rating to a “hold” rating in a research report on Saturday. Benchmark raised shares of Intevac from a “hold” rating to a “buy” rating and set a $6.00 price target for the company in a research report on Tuesday, July 31st. ValuEngine raised shares of Intevac from a “sell” rating to a “hold” rating in a research report on Wednesday, August 8th. B. Riley reduced their price target on shares of Intevac from $6.50 to $5.00 and set a “neutral” rating for the company in a research report on Tuesday, July 31st. Finally, Maxim Group reissued a “hold” rating on shares of Intevac in a research report on Tuesday. One analyst has rated the stock with a sell rating, three have issued a hold rating and two have assigned a buy rating to the company. The stock presently has an average rating of “Hold” and a consensus target price of $5.63.

Intevac Company Profile

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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Earnings History for Intevac (NASDAQ:IVAC)

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