StockNews.com Initiates Coverage on Intevac (NASDAQ:IVAC)

Equities researchers at StockNews.com started coverage on shares of Intevac (NASDAQ:IVAC) in a research report issued to clients and investors on Thursday. The brokerage set a “hold” rating on the electronics maker’s stock.

Separately, Benchmark reaffirmed a “hold” rating on shares of Intevac in a research note on Tuesday.

Intevac Stock Performance

NASDAQ:IVAC opened at $2.51 on Thursday. The company has a market capitalization of $67.59 million, a price-to-earnings ratio of -7.61 and a beta of 0.79. The company has a 50-day moving average of $3.37 and a 200-day moving average of $3.69. Intevac has a 52 week low of $2.46 and a 52 week high of $4.57.

Intevac (NASDAQ:IVAC) last announced its quarterly earnings results on Monday, November 11th. The electronics maker reported ($0.08) EPS for the quarter, topping analysts’ consensus estimates of ($0.15) by $0.07. Intevac had a negative net margin of 13.55% and a negative return on equity of 8.82%. The firm had revenue of $28.51 million during the quarter.

Institutional Investors Weigh In On Intevac

Several large investors have recently made changes to their positions in IVAC. Squarepoint Ops LLC boosted its position in Intevac by 24.7% in the second quarter. Squarepoint Ops LLC now owns 66,317 shares of the electronics maker’s stock valued at $256,000 after buying an additional 13,144 shares in the last quarter. BNP Paribas Financial Markets increased its holdings in shares of Intevac by 42.9% during the first quarter. BNP Paribas Financial Markets now owns 11,504 shares of the electronics maker’s stock worth $44,000 after buying an additional 3,452 shares in the last quarter. Point72 Asia Singapore Pte. Ltd. bought a new position in shares of Intevac in the second quarter valued at approximately $144,000. Vanguard Group Inc. boosted its holdings in shares of Intevac by 6.6% in the 1st quarter. Vanguard Group Inc. now owns 1,360,066 shares of the electronics maker’s stock worth $5,223,000 after acquiring an additional 83,958 shares in the last quarter. Finally, Renaissance Technologies LLC grew its position in Intevac by 7.1% during the 2nd quarter. Renaissance Technologies LLC now owns 550,177 shares of the electronics maker’s stock worth $2,124,000 after acquiring an additional 36,600 shares during the last quarter. Institutional investors own 60.27% of the company’s stock.

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.