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

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

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

Intevac Trading Up 1.1 %

Shares of NASDAQ IVAC opened at $2.68 on Friday. The stock has a fifty day moving average price of $3.25 and a 200 day moving average price of $3.61. The company has a market cap of $72.28 million, a P/E ratio of -8.12 and a beta of 0.79. Intevac has a 12-month low of $2.46 and a 12-month high of $4.57.

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

Hedge Funds Weigh In On Intevac

Institutional investors and hedge funds have recently made changes to their positions in the business. Royce & Associates LP increased its stake in shares of Intevac by 1.2% in the third quarter. Royce & Associates LP now owns 3,545,897 shares of the electronics maker’s stock worth $12,056,000 after buying an additional 43,052 shares during the last quarter. Vanguard Group Inc. grew its holdings in Intevac by 6.6% during the 1st quarter. Vanguard Group Inc. now owns 1,360,066 shares of the electronics maker’s stock worth $5,223,000 after acquiring an additional 83,958 shares in the last quarter. Gamco Investors INC. ET AL increased its position in shares of Intevac by 1.0% in the 1st quarter. Gamco Investors INC. ET AL now owns 561,228 shares of the electronics maker’s stock worth $2,155,000 after purchasing an additional 5,800 shares during the last quarter. Renaissance Technologies LLC raised its stake in shares of Intevac by 7.1% in the 2nd quarter. Renaissance Technologies LLC now owns 550,177 shares of the electronics maker’s stock valued at $2,124,000 after purchasing an additional 36,600 shares in the last quarter. Finally, Gabelli Funds LLC lifted its position in shares of Intevac by 1.8% during the first quarter. Gabelli Funds LLC now owns 359,086 shares of the electronics maker’s stock worth $1,379,000 after purchasing an additional 6,406 shares during the last quarter. 60.27% of the stock is currently owned by hedge funds and other institutional investors.

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.