Short Interest in Intevac, Inc. (NASDAQ:IVAC) Decreases By 16.7%

Intevac, Inc. (NASDAQ:IVAC) saw a large decline in short interest in the month of February. As of February 28th, there was short interest totalling 97,500 shares, a decline of 16.7% from the February 13th total of 117,100 shares. Based on an average trading volume of 332,500 shares, the days-to-cover ratio is presently 0.3 days. Approximately 0.4% of the company’s shares are sold short.

Intevac Price Performance

Shares of IVAC stock remained flat at $4.03 during mid-day trading on Thursday. The company’s stock had a trading volume of 6,791 shares, compared to its average volume of 153,414. Intevac has a twelve month low of $2.46 and a twelve month high of $4.42. The stock has a 50-day moving average of $3.75 and a 200-day moving average of $3.41. The firm has a market capitalization of $109.49 million, a price-to-earnings ratio of -12.21 and a beta of 0.62.

Intevac Dividend Announcement

The firm also recently announced a special dividend, which will be paid on Friday, March 28th. Shareholders of record on Monday, March 24th will be issued a dividend of $0.052 per share. The ex-dividend date is Monday, March 24th. Intevac’s payout ratio is -60.61%.

Institutional Investors Weigh In On Intevac

Several large investors have recently modified their holdings of the business. Cubist Systematic Strategies LLC increased its holdings in Intevac by 203.2% during the fourth quarter. Cubist Systematic Strategies LLC now owns 10,713 shares of the electronics maker’s stock valued at $36,000 after buying an additional 7,180 shares during the period. XTX Topco Ltd bought a new stake in Intevac during the 3rd quarter valued at $49,000. Boothbay Fund Management LLC boosted its position in Intevac by 49.2% during the 4th quarter. Boothbay Fund Management LLC now owns 34,426 shares of the electronics maker’s stock valued at $117,000 after acquiring an additional 11,353 shares in the last quarter. Price T Rowe Associates Inc. MD increased its holdings in shares of Intevac by 32.3% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 39,700 shares of the electronics maker’s stock valued at $135,000 after acquiring an additional 9,700 shares during the period. Finally, Marquette Asset Management LLC raised its position in shares of Intevac by 29.0% in the 4th quarter. Marquette Asset Management LLC now owns 66,273 shares of the electronics maker’s stock worth $225,000 after acquiring an additional 14,888 shares in the last quarter. Institutional investors own 60.27% of the company’s stock.

Wall Street Analyst Weigh In

Separately, StockNews.com started coverage on shares of Intevac in a research report on Thursday, March 13th. They set a “sell” rating on the 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.