Northern Right Capital Management buys $5,001,774 stake in Intevac (IVAC)

Intevac (IVAC) : Northern Right Capital Management scooped up 38,820 additional shares in Intevac during the most recent quarter end , the firm said in a disclosure report filed with the SEC on Aug 15, 2016. The investment management firm now holds a total of 818,621 shares of Intevac which is valued at $5,001,774.Intevac makes up approximately 6.51% of Northern Right Capital Management’s portfolio.

Other Hedge Funds, Including , Price T Rowe Associates Inc Md reduced its stake in IVAC by selling 161,790 shares or 6.15% in the most recent quarter. The Hedge Fund company now holds 2,468,410 shares of IVAC which is valued at $15,081,985.Dimensional Fund Advisors Lp reduced its stake in IVAC by selling 23,839 shares or 2.76% in the most recent quarter. The Hedge Fund company now holds 838,481 shares of IVAC which is valued at $5,156,658. Oxford Asset Management sold out all of its stake in IVAC during the most recent quarter. The investment firm sold 32,888 shares of IVAC which is valued $200,617. Gamco Investors Et Al added IVAC to its portfolio by purchasing 12,000 company shares during the most recent quarter which is valued at $72,240.

Intevac closed down -0.03 points or -0.50% at $6.03 with 4,188 shares getting traded on Thursday. Post opening the session at $6.16, the shares hit an intraday low of $6 and an intraday high of $6.16 and the price fluctuated in this range throughout the day.Shares ended Thursday session in Red.

On the company’s financial health, Intevac reported $-0.18 EPS for the quarter, beating the analyst consensus estimate by $ 0.10 according to the earnings call on Aug 1, 2016. Analyst had a consensus of $-0.28. The company had revenue of $14.90 million for the quarter, compared to analysts expectations of $14.37 million. The company’s revenue was down -27.3 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $-0.01 EPS.

Many Wall Street Analysts have commented on Intevac. Company shares were Upgraded by The Benchmark Company on Jun 8, 2016 to ” Buy”, Firm has raised the Price Target to $ 6.50 from a previous price target of $5.50 .

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.

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