Intevac, Inc. (NASDAQ:IVAC – Get Free Report) saw a significant decline in short interest in August. As of August 31st, there was short interest totalling 162,500 shares, a decline of 6.6% from the August 15th total of 174,000 shares. Based on an average daily volume of 108,900 shares, the short-interest ratio is presently 1.5 days.
Analyst Ratings Changes
Separately, StockNews.com upgraded Intevac from a “sell” rating to a “hold” rating in a report on Friday, September 6th.
Check Out Our Latest Stock Analysis on IVAC
Intevac Stock Down 2.4 %
Intevac (NASDAQ:IVAC – Get Free Report) last announced its earnings results on Monday, August 5th. The electronics maker reported ($0.12) EPS for the quarter, topping the consensus estimate of ($0.21) by $0.09. Intevac had a negative net margin of 15.08% and a negative return on equity of 6.80%. The business had revenue of $14.53 million during the quarter. During the same quarter in the previous year, the company posted ($0.19) EPS.
Hedge Funds Weigh In On Intevac
A number of institutional investors have recently added to or reduced their stakes in the company. Gabelli Funds LLC grew its position in shares of Intevac by 11.2% in the fourth quarter. Gabelli Funds LLC now owns 352,680 shares of the electronics maker’s stock valued at $1,524,000 after purchasing an additional 35,628 shares during the last quarter. GABELLI & Co INVESTMENT ADVISERS INC. lifted its holdings in shares of Intevac by 3.0% during the fourth quarter. GABELLI & Co INVESTMENT ADVISERS INC. now owns 256,911 shares of the electronics maker’s stock worth $1,110,000 after buying an additional 7,400 shares in the last quarter. Aristides Capital LLC boosted its position in shares of Intevac by 44.0% in the fourth quarter. Aristides Capital LLC now owns 80,117 shares of the electronics maker’s stock valued at $346,000 after acquiring an additional 24,462 shares during the period. Firsthand Capital Management Inc. acquired a new position in shares of Intevac in the fourth quarter valued at about $25,000. Finally, Palogic Value Management L.P. increased its position in Intevac by 22.1% during the fourth quarter. Palogic Value Management L.P. now owns 372,457 shares of the electronics maker’s stock worth $1,609,000 after acquiring an additional 67,457 shares during the period. 60.27% of the stock is currently 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.
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