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

StockNews.com initiated coverage on shares of Intevac (NASDAQ:IVAC) in a research note published on Tuesday. 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 report on Tuesday, November 12th.

Intevac Price Performance

IVAC stock opened at $3.29 on Tuesday. The company has a market capitalization of $88.74 million, a PE ratio of -9.97 and a beta of 0.74. Intevac has a 12 month low of $2.46 and a 12 month high of $4.57. The firm’s 50-day moving average is $3.08 and its 200 day moving average is $3.46.

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

Institutional Investors Weigh In On Intevac

A number of institutional investors and hedge funds have recently modified their holdings of the company. XTX Topco Ltd purchased a new position in Intevac during the 3rd quarter worth approximately $49,000. Point72 Asia Singapore Pte. Ltd. purchased a new position in shares of Intevac during the 2nd quarter valued at about $144,000. Squarepoint Ops LLC lifted 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 buying an additional 13,144 shares during the period. Connor Clark & Lunn Investment Management Ltd. boosted its stake in shares of 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 buying an additional 10,013 shares during the last quarter. Finally, RBF Capital LLC grew its holdings in Intevac by 6.6% during the third quarter. RBF Capital LLC now owns 221,553 shares of the electronics maker’s stock worth $753,000 after acquiring an additional 13,777 shares during the period. Institutional investors and hedge funds own 60.27% of the company’s stock.

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.