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

StockNews.com assumed coverage on shares of Intevac (NASDAQ:IVAC) in a report issued on Friday. The brokerage issued a hold rating on the electronics maker’s stock.

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

Intevac Stock Up 0.7 %

IVAC stock opened at $2.70 on Friday. The company has a market capitalization of $72.83 million, a PE ratio of -8.27 and a beta of 0.79. The stock’s 50 day moving average is $3.25 and its two-hundred day moving average is $3.61. Intevac has a 52-week low of $2.46 and a 52-week high of $4.57.

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

Institutional Investors Weigh In On Intevac

Institutional investors and hedge funds have recently made changes to their positions in the company. Geode Capital Management LLC grew its position in shares of Intevac by 2.9% during the 3rd quarter. Geode Capital Management LLC now owns 287,163 shares of the electronics maker’s stock valued at $977,000 after buying an additional 8,063 shares during the last quarter. XTX Topco Ltd acquired a new position in Intevac in the third quarter valued at approximately $49,000. RBF Capital LLC boosted its stake in Intevac by 6.6% in the third quarter. RBF Capital LLC now owns 221,553 shares of the electronics maker’s stock valued at $753,000 after acquiring an additional 13,777 shares during the period. Connor Clark & Lunn Investment Management Ltd. grew its holdings in shares of Intevac by 9.8% during 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 purchasing an additional 10,013 shares during the last quarter. Finally, Royce & Associates LP raised its position in shares of Intevac by 1.2% during the 3rd quarter. Royce & Associates LP now owns 3,545,897 shares of the electronics maker’s stock worth $12,056,000 after purchasing an additional 43,052 shares during the period. 60.27% of the stock is owned by institutional investors and hedge funds.

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.