Intevac (NASDAQ:IVAC) Upgraded by StockNews.com to “Hold”

Intevac (NASDAQ:IVAC) was upgraded by StockNews.com from a “sell” rating to a “hold” rating in a research report issued to clients and investors on Friday.

Intevac Stock Up 0.3 %

Shares of Intevac stock opened at $3.46 on Friday. Intevac has a 52-week low of $3.07 and a 52-week high of $4.57. The company has a market capitalization of $91.98 million, a P/E ratio of -9.11 and a beta of 0.82. The company has a 50 day moving average of $3.75 and a 200 day moving average of $3.85.

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

Hedge Funds Weigh In On Intevac

Several hedge funds have recently made changes to their positions in the company. Vanguard Group Inc. boosted its position in shares of Intevac by 6.6% in the 1st quarter. Vanguard Group Inc. now owns 1,360,066 shares of the electronics maker’s stock valued at $5,223,000 after purchasing an additional 83,958 shares during the period. Gamco Investors INC. ET AL grew its position 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 worth $2,155,000 after acquiring an additional 5,800 shares during the last quarter. Renaissance Technologies LLC increased its holdings 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 acquiring an additional 36,600 shares during the period. Palogic Value Management L.P. raised 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 purchasing an additional 67,457 shares during the last quarter. Finally, Gabelli Funds LLC raised 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 purchasing an additional 6,406 shares during the last quarter. Hedge funds and other institutional investors own 60.27% of the company’s 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.