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

StockNews.com assumed coverage on shares of Intevac (NASDAQ:IVAC) in a report published on Friday morning. The brokerage issued a hold rating on the electronics maker’s stock.

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

Intevac Stock Up 0.7 %

Shares of IVAC opened at $2.70 on Friday. The firm has a market capitalization of $72.83 million, a PE ratio of -8.27 and a beta of 0.79. The firm has a 50-day moving average price of $3.25 and a 200 day moving average price of $3.61. Intevac has a 52-week low of $2.46 and a 52-week high of $4.57.

Intevac (NASDAQ:IVAC) last issued its quarterly earnings results on Monday, November 11th. The electronics maker reported ($0.08) earnings per share for the quarter, topping analysts’ consensus estimates 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 company had revenue of $28.51 million during the quarter.

Institutional Investors Weigh In On Intevac

Several hedge funds and other institutional investors have recently bought and sold shares of IVAC. Squarepoint Ops LLC grew its stake in shares of Intevac by 24.7% in the 2nd quarter. Squarepoint Ops LLC now owns 66,317 shares of the electronics maker’s stock worth $256,000 after purchasing an additional 13,144 shares during the last quarter. BNP Paribas Financial Markets boosted its holdings in Intevac by 42.9% during the first quarter. BNP Paribas Financial Markets now owns 11,504 shares of the electronics maker’s stock worth $44,000 after buying an additional 3,452 shares in the last quarter. Point72 Asia Singapore Pte. Ltd. acquired a new position in Intevac in the second quarter worth approximately $144,000. Vanguard Group Inc. increased its holdings in shares of Intevac by 6.6% in the first quarter. Vanguard Group Inc. now owns 1,360,066 shares of the electronics maker’s stock valued at $5,223,000 after buying an additional 83,958 shares in the last quarter. Finally, Renaissance Technologies LLC lifted its position in shares of Intevac by 7.1% during the 2nd quarter. Renaissance Technologies LLC now owns 550,177 shares of the electronics maker’s stock valued at $2,124,000 after acquiring an additional 36,600 shares during the last quarter. 60.27% of the stock is currently owned by institutional investors.

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.