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

Investment analysts at StockNews.com assumed coverage on shares of Intevac (NASDAQ:IVAC) in a research report issued to clients and investors on Wednesday. The brokerage set a “hold” rating on the electronics maker’s stock.

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

Intevac Trading Up 1.5 %

Shares of IVAC stock opened at $3.45 on Wednesday. The company has a market capitalization of $93.06 million, a P/E ratio of -10.45 and a beta of 0.74. The business’s 50 day moving average is $3.05 and its two-hundred day moving average is $3.44. Intevac has a twelve month low of $2.46 and a twelve month high of $4.51.

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

Hedge Funds Weigh In On Intevac

A number of institutional investors and hedge funds have recently made changes to their positions in IVAC. XTX Topco Ltd acquired a new stake in shares of Intevac in the 3rd quarter worth approximately $49,000. Point72 Asia Singapore Pte. Ltd. purchased a new stake in Intevac during the 2nd quarter worth about $144,000. Squarepoint Ops LLC raised its stake in Intevac by 24.7% in the 2nd quarter. Squarepoint Ops LLC now owns 66,317 shares of the electronics maker’s stock valued at $256,000 after purchasing an additional 13,144 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. lifted its holdings in 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 purchasing an additional 10,013 shares in the last quarter. Finally, RBF Capital LLC boosted its position in Intevac by 6.6% during the third 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 during the last quarter. 60.27% of the stock is owned by institutional investors and hedge funds.

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.