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

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

Separately, Benchmark reissued a “hold” rating on shares of Intevac in a report on Tuesday.

Intevac Stock Performance

Shares of NASDAQ IVAC opened at $2.58 on Thursday. The stock has a fifty day simple moving average of $3.35 and a two-hundred day simple moving average of $3.68. Intevac has a 1-year low of $2.46 and a 1-year high of $4.57. The firm has a market cap of $69.58 million, a price-to-earnings ratio of -7.82 and a beta of 0.79.

Intevac (NASDAQ:IVAC) last announced its quarterly earnings data on Monday, November 11th. The electronics maker reported ($0.08) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.15) by $0.07. The business had revenue of $28.51 million for the quarter. Intevac had a negative return on equity of 8.82% and a negative net margin of 13.55%.

Hedge Funds Weigh In On Intevac

A number of large investors have recently modified their holdings of IVAC. BNP Paribas Financial Markets boosted its holdings in Intevac by 42.9% in the 1st quarter. BNP Paribas Financial Markets now owns 11,504 shares of the electronics maker’s stock valued at $44,000 after purchasing an additional 3,452 shares during the period. XTX Topco Ltd bought a new position in Intevac in the 3rd quarter worth about $49,000. Point72 Asia Singapore Pte. Ltd. purchased a new stake in Intevac in the second quarter valued at approximately $144,000. Squarepoint Ops LLC grew its stake in 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 buying an additional 13,144 shares in the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. increased its holdings in shares of Intevac by 9.8% in the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 112,336 shares of the electronics maker’s stock worth $382,000 after buying an additional 10,013 shares during the last quarter. 60.27% of the stock is currently owned by institutional investors.

About Intevac

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.