StockNews.com Begins Coverage on Intevac (NASDAQ:IVAC)

Analysts at StockNews.com started coverage on shares of Intevac (NASDAQ:IVAC) in a research report issued on Wednesday. The brokerage set a “hold” rating on the electronics maker’s stock.

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

Intevac Price Performance

IVAC opened at $3.45 on Wednesday. The business has a fifty day moving average price of $3.05 and a 200 day moving average price of $3.44. Intevac has a 12 month low of $2.46 and a 12 month high of $4.51. The stock has a market capitalization of $93.06 million, a price-to-earnings ratio of -10.45 and a beta of 0.74.

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

Institutional Investors Weigh In On Intevac

Several hedge funds and other institutional investors have recently made changes to their positions in IVAC. Geode Capital Management LLC increased its stake in Intevac by 2.9% in the third quarter. Geode Capital Management LLC now owns 287,163 shares of the electronics maker’s stock valued at $977,000 after purchasing an additional 8,063 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. grew its position in shares of Intevac by 9.8% in the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 112,336 shares of the electronics maker’s stock valued at $382,000 after buying an additional 10,013 shares during the last quarter. Squarepoint Ops LLC raised its stake in Intevac by 24.7% during the 2nd 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 in the last quarter. RBF Capital LLC raised its stake in Intevac by 6.6% during the 3rd 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 in the last quarter. Finally, XTX Topco Ltd purchased a new stake in Intevac in the third quarter valued at $49,000. 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.