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

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

Separately, Benchmark restated a “hold” rating on shares of Intevac in a research note on Tuesday, November 12th.

Intevac Stock Performance

IVAC stock opened at $2.68 on Friday. The business has a 50-day simple moving average of $3.25 and a two-hundred day simple moving average of $3.61. The company has a market capitalization of $72.28 million, a P/E ratio of -8.12 and a beta of 0.79. Intevac has a 52-week low of $2.46 and a 52-week high of $4.57.

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

Hedge Funds Weigh In On Intevac

Several institutional investors have recently bought and sold shares of the company. BNP Paribas Financial Markets lifted its stake in shares of Intevac by 42.9% during the 1st quarter. BNP Paribas Financial Markets now owns 11,504 shares of the electronics maker’s stock valued at $44,000 after buying an additional 3,452 shares in the last quarter. XTX Topco Ltd bought a new stake in Intevac during the 3rd quarter valued at $49,000. Point72 Asia Singapore Pte. Ltd. bought a new position in shares of Intevac in the second quarter worth $144,000. Squarepoint Ops LLC boosted its holdings in shares of Intevac by 24.7% in the second quarter. Squarepoint Ops LLC now owns 66,317 shares of the electronics maker’s stock worth $256,000 after acquiring an additional 13,144 shares during the period. Finally, Connor Clark & Lunn Investment Management Ltd. grew its position 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 valued at $382,000 after purchasing an additional 10,013 shares in the last quarter. Hedge funds and other institutional investors own 60.27% of the company’s stock.

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.