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

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

Intevac Price Performance

IVAC opened at $4.03 on Thursday. Intevac has a 52-week low of $2.46 and a 52-week high of $4.42. The company has a market cap of $109.49 million, a P/E ratio of -12.21 and a beta of 0.62. The firm’s 50-day moving average price is $3.72 and its 200-day moving average price is $3.40.

Intevac Announces Dividend

The firm also recently declared a special dividend, which will be paid on Friday, March 28th. Investors of record on Monday, March 24th will be issued a $0.052 dividend. Intevac’s dividend payout ratio (DPR) is presently -60.61%.

Hedge Funds Weigh In On Intevac

Several hedge funds and other institutional investors have recently bought and sold shares of IVAC. Cubist Systematic Strategies LLC increased its holdings in Intevac by 203.2% in the 4th quarter. Cubist Systematic Strategies LLC now owns 10,713 shares of the electronics maker’s stock worth $36,000 after buying an additional 7,180 shares during the period. XTX Topco Ltd acquired a new position in Intevac in the 3rd quarter worth approximately $49,000. Boothbay Fund Management LLC increased its holdings in Intevac by 49.2% in the 4th quarter. Boothbay Fund Management LLC now owns 34,426 shares of the electronics maker’s stock worth $117,000 after buying an additional 11,353 shares during the period. Price T Rowe Associates Inc. MD boosted its position in Intevac by 32.3% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 39,700 shares of the electronics maker’s stock worth $135,000 after purchasing an additional 9,700 shares in the last quarter. Finally, Marquette Asset Management LLC boosted its position in Intevac by 29.0% in the 4th quarter. Marquette Asset Management LLC now owns 66,273 shares of the electronics maker’s stock worth $225,000 after purchasing an additional 14,888 shares in the last quarter. Institutional investors and hedge funds own 60.27% of the company’s stock.

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.