Intevac, Inc. (NASDAQ:IVAC) Sees Large Decrease in Short Interest

Intevac, Inc. (NASDAQ:IVAC) saw a significant drop in short interest in the month of June. As of June 15th, there was short interest totalling 838,200 shares, a drop of 11.7% from the May 31st total of 949,400 shares. Based on an average daily volume of 79,300 shares, the days-to-cover ratio is presently 10.6 days.

Institutional Investors Weigh In On Intevac

A number of hedge funds have recently bought and sold shares of the business. Vanguard Group Inc. boosted its stake in shares of Intevac by 6.6% during the 1st 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 during the last quarter. Gamco Investors INC. ET AL grew its holdings in Intevac by 1.0% during the 1st quarter. Gamco Investors INC. ET AL now owns 561,228 shares of the electronics maker’s stock worth $2,155,000 after acquiring an additional 5,800 shares in the last quarter. Palogic Value Management L.P. increased its position in shares of Intevac by 22.1% in the 4th quarter. Palogic Value Management L.P. now owns 372,457 shares of the electronics maker’s stock worth $1,609,000 after purchasing an additional 67,457 shares during the last quarter. Gabelli Funds LLC raised its stake in shares of Intevac by 1.8% in the 1st quarter. Gabelli Funds LLC now owns 359,086 shares of the electronics maker’s stock valued at $1,379,000 after purchasing an additional 6,406 shares in the last quarter. Finally, Teton Advisors Inc. lifted its position in shares of Intevac by 1.5% during the first quarter. Teton Advisors Inc. now owns 305,000 shares of the electronics maker’s stock worth $1,171,000 after purchasing an additional 4,500 shares during the last quarter. Institutional investors and hedge funds own 60.27% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, StockNews.com raised Intevac from a “sell” rating to a “hold” rating in a research report on Tuesday.

Intevac Trading Down 0.3 %

IVAC opened at $3.82 on Wednesday. The firm’s 50 day moving average is $4.00 and its 200-day moving average is $4.00. Intevac has a 52-week low of $3.07 and a 52-week high of $4.57.

Intevac (NASDAQ:IVAC) last issued its quarterly earnings data on Thursday, April 25th. The electronics maker reported ($0.10) EPS for the quarter. The firm had revenue of $9.63 million during the quarter. Intevac had a negative return on equity of 8.17% and a negative net margin of 19.52%.

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.