Maxim Group analyst Nehal Chokshi maintained a Hold rating on Intevac (IVAC) today. The company’s shares closed yesterday at $5.30.
Chokshi noted:
“December quarter misses due to slippage of Energi tools, which shipped in January. CY19 revenue growth guidance of 20% is 9% above our estimates on photonics and HDD bookings strength. Multiple efforts remain in play to drive IVAC to high growth, but our confidence IVAC is near an inflection point remains low.”
According to TipRanks.com, Chokshi is a 5-star analyst with an average return of 11.7% and a 59.3% success rate. Chokshi covers the Consumer Goods sector, focusing on stocks such as Hewlett Packard Enterprise, Super Micro Computer, and Palo Alto Networks.
Currently, the analyst consensus on Intevac is a Moderate Buy with an average price target of $7.
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Based on Intevac’s latest earnings release for the quarter ending September 30, the company reported a quarterly GAAP net loss of $1.1 million. In comparison, last year the company had a GAAP net loss of $41K.
Based on the recent corporate insider activity of 31 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of IVAC in relation to earlier this year.
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Intevac, Inc. engages in the design, manufacture, and marketing of thin-film processing systems; and digital sensors, cameras, and systems. It operates its business through the Thin-film Equipment and Photonics segments.
