Intevac (NASDAQ:IVAC) Share Price Crosses Above 200 Day Moving Average – Here’s Why

Shares of Intevac, Inc. (NASDAQ:IVAC) passed above its two hundred day moving average during trading on Wednesday . The stock has a two hundred day moving average of $3.35 and traded as high as $3.43. Intevac shares last traded at $3.38, with a volume of 17,283 shares changing hands.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on IVAC. StockNews.com began coverage on shares of Intevac in a report on Wednesday, January 1st. They issued a “hold” rating on the stock. Benchmark reiterated a “hold” rating on shares of Intevac in a report on Tuesday, November 12th.

Intevac Price Performance

The firm’s fifty day moving average price is $3.36 and its two-hundred day moving average price is $3.35. The stock has a market cap of $91.16 million, a price-to-earnings ratio of -10.24 and a beta of 0.65.

Intevac (NASDAQ:IVAC) last announced its quarterly earnings data on Monday, November 11th. The electronics maker reported ($0.08) earnings per share for the quarter, beating the consensus estimate 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.

Hedge Funds Weigh In On Intevac

Several institutional investors have recently made changes to their positions in IVAC. XTX Topco Ltd bought a new stake in shares of Intevac during the third quarter worth about $49,000. Marquette Asset Management LLC increased its position in shares of Intevac by 29.0% during the fourth quarter. Marquette Asset Management LLC now owns 66,273 shares of the electronics maker’s stock worth $225,000 after acquiring an additional 14,888 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. increased its position in shares of Intevac by 9.8% during 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 in the last quarter. RBF Capital LLC increased its position in shares of 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 in the last quarter. Finally, Geode Capital Management LLC increased its position in shares of Intevac by 2.9% during the third quarter. Geode Capital Management LLC now owns 287,163 shares of the electronics maker’s stock worth $977,000 after acquiring an additional 8,063 shares in the last quarter. 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.