StockNews.com Initiates Coverage on Intevac (NASDAQ:IVAC)

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

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

Intevac Price Performance

Shares of NASDAQ IVAC opened at $2.80 on Friday. Intevac has a one year low of $2.46 and a one year high of $4.57. The firm’s 50 day simple moving average is $3.12 and its two-hundred day simple moving average is $3.52. The stock has a market capitalization of $75.52 million, a P/E ratio of -8.48 and a beta of 0.74.

Intevac (NASDAQ:IVAC) last issued its quarterly earnings results on Monday, November 11th. The electronics maker reported ($0.08) EPS for the quarter, beating 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 business had revenue of $28.51 million for the quarter.

Institutional Trading of Intevac

Large investors have recently added to or reduced their stakes in the stock. Connor Clark & Lunn Investment Management Ltd. boosted its holdings in Intevac by 9.8% in the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 112,336 shares of the electronics maker’s stock valued at $382,000 after acquiring an additional 10,013 shares in the last quarter. Squarepoint Ops LLC boosted its holdings in Intevac by 24.7% in the second quarter. Squarepoint Ops LLC now owns 66,317 shares of the electronics maker’s stock valued at $256,000 after acquiring an additional 13,144 shares in the last quarter. Point72 Asia Singapore Pte. Ltd. bought a new stake in Intevac in the second quarter valued at $144,000. Vanguard Group Inc. boosted its holdings in 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 acquiring an additional 83,958 shares in the last quarter. Finally, Renaissance Technologies LLC boosted its holdings in 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 acquiring an additional 36,600 shares in the last quarter. Institutional investors 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.