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

Equities researchers at StockNews.com began coverage on shares of Intevac (NASDAQ:IVAC) in a research note issued to investors on Thursday. The brokerage set a “hold” rating on the electronics maker’s stock.

Separately, Benchmark restated a “hold” rating on shares of Intevac in a report on Tuesday.

Intevac Price Performance

Shares of Intevac stock opened at $2.58 on Thursday. The stock has a market capitalization of $69.58 million, a P/E ratio of -7.82 and a beta of 0.79. Intevac has a one year low of $2.46 and a one year high of $4.57. The business’s 50 day simple moving average is $3.35 and its two-hundred day simple moving average is $3.68.

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

Institutional Trading of Intevac

Hedge funds have recently modified their holdings of the business. Acuitas Investments LLC increased its holdings in shares of Intevac by 55.1% during the second quarter. Acuitas Investments LLC now owns 285,260 shares of the electronics maker’s stock valued at $1,101,000 after acquiring an additional 101,344 shares in the last quarter. Vanguard Group Inc. raised its holdings in Intevac by 6.6% in the first quarter. Vanguard Group Inc. now owns 1,360,066 shares of the electronics maker’s stock worth $5,223,000 after buying an additional 83,958 shares during the last quarter. Royce & Associates LP lifted its stake in shares of Intevac by 1.2% in the third quarter. Royce & Associates LP now owns 3,545,897 shares of the electronics maker’s stock worth $12,056,000 after buying an additional 43,052 shares in the last quarter. Point72 Asia Singapore Pte. Ltd. purchased a new stake in shares of Intevac during the second quarter valued at approximately $144,000. Finally, Renaissance Technologies LLC increased its position in shares of Intevac by 7.1% during the second quarter. Renaissance Technologies LLC now owns 550,177 shares of the electronics maker’s stock valued at $2,124,000 after acquiring an additional 36,600 shares in the last quarter. Institutional investors 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.