Intevac, Inc. (NASDAQ:IVAC) Short Interest Update

Intevac, Inc. (NASDAQ:IVAC) saw a large decline in short interest during the month of September. As of September 15th, there was short interest totalling 146,200 shares, a decline of 10.0% from the August 31st total of 162,500 shares. Based on an average daily volume of 103,300 shares, the days-to-cover ratio is presently 1.4 days.

Hedge Funds Weigh In On Intevac

Institutional investors have recently modified their holdings of the company. Vanguard Group Inc. raised its stake in 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 acquiring an additional 83,958 shares in the last quarter. Gamco Investors INC. ET AL raised its stake in shares of Intevac by 1.0% during the first quarter. Gamco Investors INC. ET AL now owns 561,228 shares of the electronics maker’s stock valued at $2,155,000 after purchasing an additional 5,800 shares in the last quarter. Renaissance Technologies LLC lifted 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 worth $2,124,000 after purchasing an additional 36,600 shares during the period. Palogic Value Management L.P. grew its position in Intevac by 22.1% in the 4th quarter. Palogic Value Management L.P. now owns 372,457 shares of the electronics maker’s stock valued at $1,609,000 after buying an additional 67,457 shares in the last quarter. Finally, Gabelli Funds LLC grew its position in 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 buying an additional 6,406 shares in the last quarter. Institutional investors own 60.27% of the company’s stock.

Intevac Stock Performance

Shares of Intevac stock remained flat at $3.43 during trading hours on Friday. 9,666 shares of the stock were exchanged, compared to its average volume of 80,319. Intevac has a one year low of $3.07 and a one year high of $4.57. The business’s 50 day moving average price is $3.57 and its 200 day moving average price is $3.80. The stock has a market capitalization of $91.18 million, a PE ratio of -9.03 and a beta of 0.80.

Intevac (NASDAQ:IVAC) last issued its earnings results on Monday, August 5th. The electronics maker reported ($0.12) EPS for the quarter, beating analysts’ consensus estimates of ($0.21) by $0.09. The company had revenue of $14.53 million during the quarter. Intevac had a negative return on equity of 6.80% and a negative net margin of 15.08%. During the same quarter in the previous year, the firm earned ($0.19) earnings per share.

Analyst Upgrades and Downgrades

Separately, StockNews.com upgraded Intevac from a “sell” rating to a “hold” rating in a research note on Friday, September 6th.

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.