StockNews.com Initiates Coverage on Intevac (NASDAQ:IVAC)

Analysts at StockNews.com initiated coverage on shares of Intevac (NASDAQ:IVAC) in a research report issued to clients and investors on Monday. The firm set a “hold” rating on the electronics maker’s stock.

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

Intevac Price Performance

NASDAQ:IVAC opened at $3.45 on Monday. The firm has a market cap of $93.06 million, a PE ratio of -10.45 and a beta of 0.74. The firm has a 50 day simple moving average of $3.09 and a 200-day simple moving average of $3.48. Intevac has a 1-year low of $2.46 and a 1-year high of $4.57.

Intevac (NASDAQ:IVAC) last released its earnings results on Monday, November 11th. The electronics maker reported ($0.08) EPS for the quarter, topping 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 during the quarter.

Institutional Trading of Intevac

A number of institutional investors have recently modified their holdings of IVAC. Royce & Associates LP boosted its position in 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. Renaissance Technologies LLC boosted its position in shares of Intevac by 7.1% in the second quarter. Renaissance Technologies LLC now owns 550,177 shares of the electronics maker’s stock worth $2,124,000 after buying an additional 36,600 shares during the period. Geode Capital Management LLC grew its stake in shares of Intevac by 2.9% in the third 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 in the last quarter. Acuitas Investments LLC lifted its position in Intevac by 55.1% during the 2nd quarter. Acuitas Investments LLC now owns 285,260 shares of the electronics maker’s stock worth $1,101,000 after acquiring an additional 101,344 shares in the last quarter. Finally, RBF Capital LLC boosted its holdings in Intevac by 6.6% in the 3rd quarter. RBF Capital LLC now owns 221,553 shares of the electronics maker’s stock worth $753,000 after acquiring an additional 13,777 shares during the period. Hedge funds and other institutional investors own 60.27% of the company’s stock.

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.