Northern Right Capital Management buys $6,254,844 stake in Intevac (IVAC)

Intevac (IVAC) : Northern Right Capital Management scooped up 175,000 additional shares in Intevac during the most recent quarter end , the firm said in a disclosure report filed with the SEC on Nov 14, 2016. The investment management firm now holds a total of 993,621 shares of Intevac which is valued at $6,254,844.Intevac makes up approximately 14.57% of Northern Right Capital Management’s portfolio.

Other Hedge Funds, Including , Tower Research Capital (trc) boosted its stake in IVAC in the latest quarter, The investment management firm added 1,190 additional shares and now holds a total of 2,741 shares of Intevac which is valued at $16,172.

Intevac closed down -0.1 points or -1.53% at $6.45 with 52,793 shares getting traded on Monday. Post opening the session at $6.6, the shares hit an intraday low of $6.25 and an intraday high of $6.6 and the price fluctuated in this range throughout the day.Shares ended Monday session in Red.

On the company’s financial health, Intevac reported $-0.02 EPS for the quarter, beating the analyst consensus estimate by $ 0.05 according to the earnings call on Nov 1, 2016. Analyst had a consensus of $-0.07. The company had revenue of $22.56 million for the quarter, compared to analysts expectations of $21.88 million. The company’s revenue was up 22.5% compared to the same quarter last year. During the same quarter in the previous year, the company posted $-0.18 EPS.

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 Company’s 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 Company’s 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.

Comments (0)

Leave a Reply

Your email address will not be published. Required fields are marked *