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

StockNews.com started coverage on shares of Intevac (NASDAQ:IVAC) in a research note issued to investors on Saturday. The firm issued a hold rating on the electronics maker’s stock.

Separately, Benchmark reiterated a “hold” rating on shares of Intevac in a report on Tuesday, November 12th.

Intevac Trading Down 2.9 %

Shares of IVAC opened at $2.71 on Friday. The stock has a fifty day moving average price of $3.18 and a 200-day moving average price of $3.55. Intevac has a 12 month low of $2.46 and a 12 month high of $4.57. The firm has a market cap of $73.09 million, a PE ratio of -8.21 and a beta of 0.79.

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

Institutional Investors Weigh In On Intevac

Several hedge funds have recently added to or reduced their stakes in the business. Acuitas Investments LLC lifted its holdings in shares of 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 period. Vanguard Group Inc. raised its position in Intevac by 6.6% during the first quarter. Vanguard Group Inc. now owns 1,360,066 shares of the electronics maker’s stock valued at $5,223,000 after acquiring an additional 83,958 shares in the last quarter. Royce & Associates LP lifted its holdings in Intevac by 1.2% in the third quarter. Royce & Associates LP now owns 3,545,897 shares of the electronics maker’s stock valued at $12,056,000 after acquiring an additional 43,052 shares during the period. Point72 Asia Singapore Pte. Ltd. purchased a new stake in Intevac in the 2nd quarter worth approximately $144,000. Finally, Renaissance Technologies LLC grew its stake in shares of 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 purchasing an additional 36,600 shares during the period. 60.27% of the stock is owned by hedge funds and other institutional investors.

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.