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Intevac ( (IVAC) ) just unveiled an update.
Intevac announced its decision to cease development and manufacturing of the TRIO product, resulting in a workforce reduction and significant restructuring charges. This strategic move aligns with cost-reduction efforts and a renewed focus on the HDD sector, where the company anticipates growth due to industry adoption of HAMR technology. Intevac expects improved profitability and cash flow in 2025 and has secured a second significant customer for HAMR, enhancing its market position. The company also plans to commence quarterly dividends and is actively exploring strategic alternatives with the advisory of Houlihan Lokey.
More about Intevac
Founded in 1991, Intevac is a leading provider of thin-film process technology and manufacturing platforms primarily for the hard disk drive (HDD) industry. The company specializes in high-productivity, thin-film processing systems, particularly the 200 Lean® platform, which supports the majority of the world’s capacity for HDD disk media production.
YTD Price Performance: -34.49%
Average Trading Volume: 75,809
Technical Sentiment Consensus Rating: Buy
Current Market Cap: $76.33M
See more data about IVAC stock on TipRanks’ Stock Analysis page.
