Intevac (NASDAQ:IVAC) Given Hold Rating at Benchmark

Benchmark restated their hold rating on shares of Intevac (NASDAQ:IVAC) in a report issued on Tuesday morning,Benzinga reports.

Separately, StockNews.com began coverage on Intevac in a research note on Wednesday, November 6th. They issued a “hold” rating on the stock.

Intevac Stock Performance

Shares of NASDAQ:IVAC traded down $0.07 during midday trading on Tuesday, hitting $2.51. 24,946 shares of the stock were exchanged, compared to its average volume of 79,452. The business’s 50-day moving average price is $3.37 and its 200 day moving average price is $3.69. Intevac has a 12 month low of $2.46 and a 12 month high of $4.57.

Intevac (NASDAQ:IVAC) last released its quarterly earnings results on Monday, November 11th. The electronics maker reported ($0.08) earnings per share for the quarter, topping 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

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Connor Clark & Lunn Investment Management Ltd. lifted its stake 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 worth $382,000 after acquiring an additional 10,013 shares during the period. Royce & Associates LP lifted its stake 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 buying an additional 43,052 shares during the period. Point72 Asia Singapore Pte. Ltd. acquired a new position in Intevac in the second quarter valued at approximately $144,000. Squarepoint Ops LLC lifted its stake in Intevac by 24.7% in the second quarter. Squarepoint Ops LLC now owns 66,317 shares of the electronics maker’s stock valued at $256,000 after buying an additional 13,144 shares during the period. Finally, Renaissance Technologies LLC lifted its stake in Intevac by 7.1% in the second quarter. Renaissance Technologies LLC now owns 550,177 shares of the electronics maker’s stock valued at $2,124,000 after buying an additional 36,600 shares during the period. 60.27% of the stock is owned by institutional investors and hedge funds.

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.