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

Intevac, Inc. (NASDAQ:IVAC) was the target of a significant decline in short interest in February. As of February 28th, there was short interest totalling 97,500 shares, a decline of 16.7% from the February 13th total of 117,100 shares. Currently, 0.4% of the company’s stock are short sold. Based on an average trading volume of 332,500 shares, the days-to-cover ratio is presently 0.3 days.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of IVAC. Peapod Lane Capital LLC bought a new position in shares of Intevac during the 4th quarter valued at about $1,562,000. Marshall Wace LLP bought a new position in shares of Intevac during the 4th quarter valued at approximately $321,000. Gamco Investors INC. ET AL grew its holdings in shares of Intevac by 13.7% in the fourth quarter. Gamco Investors INC. ET AL now owns 590,428 shares of the electronics maker’s stock valued at $2,007,000 after purchasing an additional 71,100 shares in the last quarter. Renaissance Technologies LLC raised its stake in Intevac by 7.8% during the fourth quarter. Renaissance Technologies LLC now owns 619,977 shares of the electronics maker’s stock valued at $2,108,000 after purchasing an additional 44,804 shares in the last quarter. Finally, GABELLI & Co INVESTMENT ADVISERS INC. lifted its holdings in shares of Intevac by 11.3% in the 4th quarter. GABELLI & Co INVESTMENT ADVISERS INC. now owns 277,390 shares of the electronics maker’s stock valued at $943,000 after acquiring an additional 28,200 shares during the last quarter. Institutional investors own 60.27% of the company’s stock.

Intevac Price Performance

NASDAQ IVAC remained flat at $4.03 during trading hours on Thursday. 6,791 shares of the company traded hands, compared to its average volume of 153,414. Intevac has a 12 month low of $2.46 and a 12 month high of $4.42. The firm has a market capitalization of $109.49 million, a price-to-earnings ratio of -12.21 and a beta of 0.62. The stock has a 50 day simple moving average of $3.75 and a two-hundred day simple moving average of $3.41.

Intevac Dividend Announcement

The company also recently declared a special dividend, which will be paid on Friday, March 28th. Shareholders of record on Monday, March 24th will be given a $0.052 dividend. The ex-dividend date of this dividend is Monday, March 24th. Intevac’s payout ratio is currently -60.61%.

Wall Street Analyst Weigh In

Separately, StockNews.com initiated coverage on shares of Intevac in a report on Thursday, March 13th. They set a “sell” rating on the 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.