Needham & Company Maintains a 'Buy' on Intevac (IVAC); Still Waiting. IVAC Reports 2Q Results, Guides For Balance Of 2011 For No Tools

Needham & Company maintains a 'Buy' on Intevac (NASDAQ: IVAC) price target of $13.00.

Needham analyst says, "We believe that the absence of orders is already well-baked into investor sentiment and the current stock price. Fundamentally, the disk drive industry is very likely to see double digit unit growth in 2012, thereby needing additional IVAC systems (with orders possible in 4Q11/1Q12). Until that time, the stock will likely bounce along current levels. With little downside risk we maintain our Buy rating."

For more ratings news on Intevac click here and for the rating history of Intevac click here.

Shares of Intevac closed at $9.90 yesterday.

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