Intevac (NASDAQ:IVAC) Coverage Initiated by Analysts at StockNews.com

StockNews.com started coverage on shares of Intevac (NASDAQ:IVAC) in a research note released on Saturday morning. The brokerage issued a sell rating on the electronics maker’s stock.

Intevac Trading Down 0.2 %

Shares of NASDAQ:IVAC opened at $3.99 on Friday. The company has a 50-day moving average price of $3.82 and a 200-day moving average price of $3.44. The company has a market cap of $108.40 million, a price-to-earnings ratio of -12.09 and a beta of 0.62. Intevac has a 12 month low of $2.46 and a 12 month high of $4.42.

Intevac Dividend Announcement

The firm also recently disclosed a special dividend, which was paid on Friday, March 28th. Shareholders of record on Monday, March 24th were issued a $0.052 dividend. The ex-dividend date was Monday, March 24th. Intevac’s dividend payout ratio (DPR) is currently -60.61%.

Hedge Funds Weigh In On Intevac

Several hedge funds have recently made changes to their positions in the business. Connor Clark & Lunn Investment Management Ltd. lifted its stake in Intevac by 9.8% in 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. Geode Capital Management LLC raised its holdings in Intevac by 2.9% in the 3rd quarter. Geode Capital Management LLC now owns 287,163 shares of the electronics maker’s stock worth $977,000 after purchasing an additional 8,063 shares in the last quarter. XTX Topco Ltd purchased a new stake in shares of Intevac in the 3rd quarter worth about $49,000. Marquette Asset Management LLC boosted its stake in shares of Intevac by 29.0% during the 4th quarter. Marquette Asset Management LLC now owns 66,273 shares of the electronics maker’s stock valued at $225,000 after purchasing an additional 14,888 shares in the last quarter. Finally, Peapod Lane Capital LLC bought a new stake in shares of Intevac during the 4th quarter valued at about $1,562,000. 60.27% of the stock is owned by hedge funds and other institutional investors.

About Intevac

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.