Intevac (NASDAQ:IVAC) Now Covered by StockNews.com

Stock analysts at StockNews.com initiated coverage on shares of Intevac (NASDAQ:IVAC) in a research note issued to investors on Monday. The brokerage set a “hold” rating on the electronics maker’s stock.

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

Intevac Stock Performance

IVAC stock opened at $3.40 on Monday. The stock has a market cap of $91.71 million, a P/E ratio of -10.15 and a beta of 0.74. The firm has a 50 day simple moving average of $3.09 and a 200 day simple moving average of $3.48. Intevac has a 52 week low of $2.46 and a 52 week high of $4.57.

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 the consensus estimate of ($0.15) by $0.07. The company had revenue of $28.51 million during the quarter. Intevac had a negative return on equity of 8.82% and a negative net margin of 13.55%.

Institutional Investors Weigh In On Intevac

Several hedge funds have recently bought and sold shares of IVAC. Acuitas Investments LLC lifted its holdings in Intevac by 55.1% in the second quarter. Acuitas Investments LLC now owns 285,260 shares of the electronics maker’s stock valued at $1,101,000 after buying an additional 101,344 shares during the period. Royce & Associates LP increased its position in shares of Intevac by 1.2% during the third quarter. Royce & Associates LP now owns 3,545,897 shares of the electronics maker’s stock valued at $12,056,000 after acquiring an additional 43,052 shares during the last quarter. Point72 Asia Singapore Pte. Ltd. purchased a new stake in Intevac during the second quarter worth about $144,000. Renaissance Technologies LLC raised its stake in shares of 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. Finally, XTX Topco Ltd bought a new position in Intevac in the 3rd quarter worth approximately $49,000. 60.27% of the stock is currently 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.