Intevac (IVAC) was Upgraded by Maxim Group to ” Buy” according to the research note released today. The brokerage firm has raised the Price Target to $ 11 from a previous price target of $6.70 . Earlier the firm had a rating of “Hold ” on the company shares. Maxim Group advised their investors in a research report released on May 3, 2016.
On the company’s financial health, Intevac reported $-0.31 EPS for the quarter, beating the analyst consensus estimate by $ 0.06 according to the earnings call on May 2, 2016. Analyst had a consensus of $-0.37. The company had revenue of $13.66 million for the quarter, compared to analysts expectations of $11.64 million. The company’s revenue was down -31.3 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $-0.12 EPS.
Intevac opened for trading at $4.89 and hit $4.89 on the upside on Monday, eventually ending the session at $4.81, with a gain of 0.21% or 0.01 points. The heightened volatility saw the trading volume jump to 2,829 shares. Company has a market cap of $99 M.
In a different news, on Sep 10, 2015, Michael A Russak (Executive Advisor) sold 2,141 shares at $5.09 per share price. According to the SEC, on Aug 20, 2015, Christopher Smith (VP, Business Development) sold 4,300 shares at $5.01 per share price. On Jun 10, 2015, John F Schaefer (director) purchased 10,117 shares at $5.47 per share price, according to the Form-4 filing with the securities and exchange commission.
Intevac Inc. provides process manufacturing equipment solutions to the hard disk drive industry and offers high-productivity thin-film processing systems to the photovoltaic (PV) industry. The Company also provides sensors cameras and systems for government applications such as night vision and long-range target identification. The Companys customers include manufacturers of hard disk drives PV cells and cell phones as well as the United States government and its agencies and contractors. The Company has two segments which include Equipment and Photonics. The Companys products are used in the defense market. The Company provides process and applications support customer training installation start-up assistance and post-installation service support to its equipment customers. The Company manufactures its Equipment products at its facilities in California and Singapore. Its operations include vacuum processing and electromechanical and optical system assembly.