Intevac (NASDAQ:IVAC) Now Covered by StockNews.com

StockNews.com started coverage on shares of Intevac (NASDAQ:IVAC) in a research report sent to investors on Monday morning. The brokerage issued a hold rating on the electronics maker’s stock.

Separately, Benchmark reissued a “hold” rating on shares of Intevac in a research note on Tuesday, November 12th.

Intevac Price Performance

Shares of Intevac stock opened at $3.40 on Monday. The firm has a 50 day simple moving average of $3.09 and a 200 day simple moving average of $3.48. Intevac has a fifty-two week low of $2.46 and a fifty-two week high of $4.57. The firm has a market cap of $91.71 million, a P/E ratio of -10.30 and a beta of 0.74.

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

Institutional Trading of Intevac

Hedge funds have recently added to or reduced their stakes in the business. Connor Clark & Lunn Investment Management Ltd. raised its holdings in shares of Intevac by 9.8% during the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 112,336 shares of the electronics maker’s stock worth $382,000 after acquiring an additional 10,013 shares during the period. Squarepoint Ops LLC raised its holdings in shares of Intevac by 24.7% in the 2nd quarter. Squarepoint Ops LLC now owns 66,317 shares of the electronics maker’s stock valued at $256,000 after purchasing an additional 13,144 shares during the period. Point72 Asia Singapore Pte. Ltd. acquired a new stake in shares of Intevac in the second quarter valued at approximately $144,000. Renaissance Technologies LLC boosted its position in Intevac by 7.1% during the second quarter. Renaissance Technologies LLC now owns 550,177 shares of the electronics maker’s stock worth $2,124,000 after purchasing an additional 36,600 shares during the period. Finally, Acuitas Investments LLC grew its stake in Intevac by 55.1% in the 2nd quarter. Acuitas Investments LLC now owns 285,260 shares of the electronics maker’s stock valued at $1,101,000 after buying an additional 101,344 shares during the last quarter. Institutional investors and hedge funds 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.