Intevac (NASDAQ:IVAC) Releases Q2 2022 Earnings Guidance

Intevac (NASDAQ:IVACGet Rating) issued an update on its second quarter 2022 earnings guidance on Tuesday morning. The company provided earnings per share (EPS) guidance of -$0.15–$0.13 for the period, compared to the consensus estimate of -$0.20. The company issued revenue guidance of $8.00 million-$8.50 million, compared to the consensus revenue estimate of $8.00 million.

Shares of IVAC stock opened at $5.10 on Tuesday. The company has a market cap of $127.80 million, a price-to-earnings ratio of 4.95 and a beta of 0.78. The firm has a fifty day moving average price of $5.21 and a 200-day moving average price of $5.09. Intevac has a 1 year low of $3.93 and a 1 year high of $7.16.

Intevac (NASDAQ:IVACGet Rating) last announced its earnings results on Monday, May 9th. The electronics maker reported ($0.20) earnings per share (EPS) for the quarter. Intevac had a net margin of 51.60% and a negative return on equity of 20.29%. The business had revenue of $4.45 million for the quarter.

Several equities research analysts have recently commented on the stock. StockNews.com started coverage on shares of Intevac in a research note on Thursday, March 31st. They set a hold rating for the company. Benchmark lowered shares of Intevac from a buy rating to a hold rating in a research report on Thursday, February 10th.

In other Intevac news, Director Michele Klein bought 5,000 shares of the company’s stock in a transaction on Wednesday, May 18th. The stock was purchased at an average cost of $5.16 per share, for a total transaction of $25,800.00. Following the acquisition, the director now owns 35,000 shares of the company’s stock, valued at approximately $180,600. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Nigel Hunton purchased 10,000 shares of the firm’s stock in a transaction on Thursday, February 24th. The shares were purchased at an average cost of $4.96 per share, for a total transaction of $49,600.00. The disclosure for this purchase can be found here. Over the last ninety days, insiders have purchased 30,000 shares of company stock worth $150,150. 3.30% of the stock is owned by insiders.

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Charles Schwab Investment Management Inc. bought a new position in Intevac during the 1st quarter valued at $83,000. D. E. Shaw & Co. Inc. bought a new stake in shares of Intevac during the fourth quarter valued at approximately $90,000. Morgan Stanley raised its holdings in shares of Intevac by 17.9% during the second quarter. Morgan Stanley now owns 29,255 shares of the electronics maker’s stock valued at $197,000 after buying an additional 4,441 shares during the last quarter. Susquehanna International Group LLP raised its holdings in Intevac by 29.8% during the fourth quarter. Susquehanna International Group LLP now owns 42,686 shares of the electronics maker’s stock worth $201,000 after purchasing an additional 9,795 shares in the last quarter. Finally, Northern Trust Corp grew its position in Intevac by 4.6% in the fourth quarter. Northern Trust Corp now owns 62,112 shares of the electronics maker’s stock worth $293,000 after buying an additional 2,726 shares during the last quarter. 68.23% of the stock is currently owned by institutional investors and hedge funds.

Intevac Company Profile (Get Rating)

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, and Europe. It designs, develops, and markets thin-film processing systems for hard disk drive media, display cover panel, solar photovoltaic cell, and advanced semiconductor packaging industries.

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