Zacks: Analysts Anticipate Intevac, Inc. (IVAC) Will Announce Quarterly Sales of $24.77 Million

Equities analysts expect Intevac, Inc. (NASDAQ:IVAC) to report sales of $24.77 million for the current quarter, Zacks reports. Three 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 in the same quarter last year, which suggests a negative year over year growth rate of 14.5%. The company is expected to issue its next earnings report on Wednesday, February 7th.

On average, analysts expect that Intevac will report full-year sales of $24.77 million for the current year, with estimates ranging from $112.00 million to $112.60 million. For the next financial year, analysts anticipate that the business will post sales of $137.00 million per share, with estimates ranging from $134.00 million to $142.00 million. Zacks’ sales averages are an average based on a survey of research analysts that that provide coverage for Intevac.

Intevac (NASDAQ:IVAC) last posted 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 last year, the firm earned ($0.02) EPS. The company’s revenue for the quarter was up 18.1% on a year-over-year basis.

A number of research firms have recently issued reports on IVAC. B. Riley reiterated a “buy” rating and set a $14.00 price target on shares of Intevac in a research report on Tuesday, October 31st. Benchmark restated a “hold” rating on shares of Intevac in a research report on Tuesday, October 31st. Maxim Group restated a “buy” rating and set a $12.00 price objective on shares of Intevac in a research report on Friday, October 27th. Zacks Investment Research downgraded Intevac from a “hold” rating to a “sell” rating in a research report on Wednesday, November 1st. Finally, Noble Financial upgraded Intevac from a “hold” rating to a “buy” rating in a research report on Tuesday, October 31st. One investment analyst has rated the stock with a sell rating, two have given a hold rating and four have issued a buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $12.60.

Shares of Intevac (IVAC) opened at $6.95 on Wednesday. Intevac has a 12-month low of $6.20 and a 12-month high of $14.15. The stock has a market cap of $155.79, a P/E ratio of 24.67 and a beta of 0.85.

Institutional investors have recently modified their holdings of the stock. 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 worth $387,000 after purchasing an additional 1,000 shares during the last quarter. Navellier & Associates Inc raised its position 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 worth $540,000 after purchasing an additional 23,835 shares during the last quarter. PDT Partners LLC purchased a new stake in Intevac in the 2nd quarter worth approximately $706,000. Arrowstreet Capital Limited Partnership grew its stake in Intevac by 100.3% in the 2nd quarter. Arrowstreet Capital Limited Partnership now owns 40,342 shares of the electronics maker’s stock worth $448,000 after acquiring an additional 20,200 shares during the period. Finally, Schwab Charles Investment Management Inc. purchased a new stake in Intevac in the 2nd quarter worth approximately $363,000. Hedge funds and other institutional investors own 70.23% 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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Earnings History and Estimates for Intevac (NASDAQ:IVAC)

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