Intevac (NASDAQ:IVAC) Coverage Initiated at StockNews.com

StockNews.com initiated coverage on shares of Intevac (NASDAQ:IVAC) in a research report released on Tuesday morning. The firm issued a hold rating on the electronics maker’s stock.

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

Intevac Trading Up 1.2 %

Shares of IVAC stock opened at $3.33 on Tuesday. The firm has a market capitalization of $89.82 million, a price-to-earnings ratio of -10.09 and a beta of 0.74. The firm’s 50 day moving average is $3.06 and its 200-day moving average is $3.46. Intevac has a 1 year low of $2.46 and a 1 year 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 (EPS) for the quarter, topping the consensus estimate of ($0.15) by $0.07. The firm 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%.

Institutional Trading of Intevac

Several institutional investors and hedge funds have recently made changes to their positions in IVAC. Acuitas Investments LLC grew its stake in shares of Intevac by 55.1% during the second quarter. Acuitas Investments LLC now owns 285,260 shares of the electronics maker’s stock worth $1,101,000 after purchasing an additional 101,344 shares during the period. Renaissance Technologies LLC boosted its holdings in Intevac by 7.1% during the second quarter. Renaissance Technologies LLC now owns 550,177 shares of the electronics maker’s stock worth $2,124,000 after buying an additional 36,600 shares during the last quarter. Squarepoint Ops LLC grew its position in shares of 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 buying an additional 13,144 shares during the period. Point72 Asia Singapore Pte. Ltd. bought a new stake in shares of Intevac in the 2nd quarter valued at about $144,000. Finally, Royce & Associates LP raised its position in shares of Intevac by 1.2% in the 3rd 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 period. Institutional investors 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.