Intevac (NASDAQ:IVAC) Updates Q2 2024 Earnings Guidance

Intevac (NASDAQ:IVAC) updated its second quarter 2024 earnings guidance on Friday. The company provided earnings per share guidance of -0.220–0.200 for the period, compared to the consensus earnings per share estimate of -0.050. The company issued revenue guidance of $7.5 million-$8.5 million, compared to the consensus revenue estimate of $15.0 million.

Analysts Set New Price Targets

Separately, StockNews.com cut shares of Intevac from a hold rating to a sell rating in a research note on Friday.

Intevac Stock Performance

Shares of IVAC stock opened at $4.39 on Friday. The firm’s 50 day moving average is $3.83 and its 200 day moving average is $3.89. Intevac has a 12 month low of $3.07 and a 12 month high of $6.48.

Intevac (NASDAQ:IVAC) last posted its earnings results on Thursday, April 25th. The electronics maker reported ($0.10) earnings per share (EPS) for the quarter. Intevac had a negative return on equity of 8.17% and a negative net margin of 19.52%. The firm had revenue of $9.63 million during the quarter.

Intevac Company Profile

Intevac, Inc, together with its subsidiaries, engages in the designing, developing, and manufacturing thin-film processing systems in the United States, Europe, and Asia. It designs, develops, and markets vacuum process equipment solutions for manufacturing small substrates with precise thin-film properties, such as hard disk drive, advanced coatings, and other adjacent thin-film markets.