The stock of Intevac, Inc. (NASDAQ:IVAC) hit a new 52-week high and has $8.58 target or 31.00% above today’s $6.55 share price. The 8 months bullish chart indicates low risk for the $145.92M company. The 1-year high was reported on Nov, 17 by Barchart.com. If the $8.58 price target is reached, the company will be worth $45.24 million more.
The 52-week high event is an important milestone for every stock because it shows very positive momentum and is time when buyers come in. During such notable technical setup, fundamental investors usually stay away and are careful shorting or selling the stock. The stock increased 0.77% or $0.05 on November 17, hitting $6.55. About 46,646 shares traded hands or 47.45% up from the average. Intevac, Inc. (NASDAQ:IVAC) has risen 34.38% since April 15, 2016 and is uptrending. It has outperformed by 29.75% the S&P500.
Intevac, Inc. (NASDAQ:IVAC) Ratings Coverage
Out of 5 analysts covering Intevac Inc (NASDAQ:IVAC), 5 rate it a “Buy”, 0 “Sell”, while 0 “Hold”. This means 100% are positive. Intevac Inc has been the topic of 6 analyst reports since November 3, 2015 according to StockzIntelligence Inc. The firm has “Buy” rating by TH Capital given on Tuesday, January 5. The firm has “Buy” rating given on Tuesday, May 3 by Maxim Group. The rating was initiated by Northland Capital with “Outperform” on Tuesday, December 8. Noble upgraded the stock to “Buy” rating in Tuesday, November 3 report. Benchmark upgraded it to “Buy” rating and $6.50 target price in Wednesday, June 8 report.
According to Zacks Investment Research, “Intevac, Inc. is a leading supplier of static sputtering systems and related manufacturing equipment used to manufacture thin-film disks for computer hard disk drives. Sputtering is a complex vacuum deposition process used to deposit multiple thin-film layers on a disk. The company’s primary objective is to be the industry leader in supplying disk sputtering equipment by providing disk sputtering systems which have both the highest overall performance and the lowest cost of ownership in the industry.”
Insitutional Activity: The institutional sentiment increased to 0.84 in Q2 2016. Its up 0.02, from 0.82 in 2016Q1. The ratio is positive, as 7 funds sold all Intevac, Inc. shares owned while 12 reduced positions. 9 funds bought stakes while 7 increased positions. They now own 15.36 million shares or 1.95% less from 15.66 million shares in 2016Q1.
Group One Trading Ltd Partnership holds 0% of its portfolio in Intevac, Inc. (NASDAQ:IVAC) for 14,000 shares. S Squared Tech Ltd Liability Corporation has 1.21% invested in the company for 202,976 shares. Moreover, Bluefin Trading has 0.04% invested in Intevac, Inc. (NASDAQ:IVAC) for 74,744 shares. Gamco Et Al has invested 0% of its portfolio in Intevac, Inc. (NASDAQ:IVAC). State Street accumulated 17,887 shares or 0% of the stock. Panagora Asset, a Massachusetts-based fund reported 1,707 shares. The New York-based Renaissance Technology Lc has invested 0% in Intevac, Inc. (NASDAQ:IVAC). Northern Tru has 61,788 shares for 0% of their US portfolio. Moreover, Goldman Sachs has 0% invested in Intevac, Inc. (NASDAQ:IVAC) for 16,106 shares. Natl Bank Of America De last reported 0% of its portfolio in the stock. Price T Rowe Md owns 2.47 million shares or 0% of their US portfolio. Tower Rech Capital Ltd (Trc) has 2,741 shares for 0% of their US portfolio. Teton last reported 232,030 shares in the company. Schneider Cap Management reported 620,676 shares or 0.66% of all its holdings. Peak6 Investments L P holds 0% or 10,862 shares in its portfolio.
Insider Transactions: Since June 7, 2016, the stock had 2 insider buys, and 1 insider sale for $1.26 million net activity. $10,100 worth of Intevac, Inc. (NASDAQ:IVAC) shares were sold by RUSSAK MICHAEL A. $206,996 worth of shares were bought by Drapkin Matthew A on Wednesday, June 8.
More news for Intevac, Inc. (NASDAQ:IVAC) were recently published by: Marketwatch.com, which released: “Intervac upgraded to buy from hold at Maxim Group” on October 08, 2010. Businesswire.com‘s article titled: “Intevac to Participate in 5th Annual Midtown CAP Summit NYC” and published on November 17, 2016 is yet another important article.
IVAC Company Profile
Intevac, Inc. (Intevac), incorporated on May 25, 2007, is a well-known provider of vacuum deposition equipment for a range of thin-film applications, and a well-known provider of digital night-vision technologies and products to the defense industry. The Company’s divisions include Thin-film Equipment and Photonics. Intevac, through Thin-film Equipment segment, is engaged in the design and development of thin-film processing systems. The Company’s platforms are designed for high-volume manufacturing of substrates with thin-film properties, such as the hard drive media, display cover panel (DCP), and solar photovoltaic (PV) markets it serves. Intevac, through Photonics segment, is engaged in developing high-sensitivity digital sensors, cameras and systems that serve the defense industry. It provides integrated digital night vision imaging systems for the United States military.
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