State Street Corp Trims Stake in Intevac, Inc. (NASDAQ:IVAC)

State Street Corp lessened its holdings in shares of Intevac, Inc. (NASDAQ:IVAC) by 16.8% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 94,386 shares of the electronics maker’s stock after selling 19,000 shares during the period. State Street Corp’s holdings in Intevac were worth $321,000 at the end of the most recent reporting period.

Other hedge funds have also recently modified their holdings of the company. Acuitas Investments LLC boosted its holdings in Intevac by 55.1% during the 2nd quarter. Acuitas Investments LLC now owns 285,260 shares of the electronics maker’s stock valued at $1,101,000 after acquiring an additional 101,344 shares during the period. Royce & Associates LP boosted its stake in shares of Intevac by 1.2% during the third quarter. Royce & Associates LP now owns 3,545,897 shares of the electronics maker’s stock valued at $12,056,000 after purchasing an additional 43,052 shares during the period. Point72 Asia Singapore Pte. Ltd. purchased a new stake in shares of Intevac during the second quarter valued at $144,000. Renaissance Technologies LLC grew its holdings 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 purchasing an additional 36,600 shares during the last quarter. Finally, RBF Capital LLC increased its stake 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 buying an additional 13,777 shares during the period. Institutional investors own 60.27% of the company’s stock.

Intevac Price Performance

IVAC stock opened at $3.51 on Friday. Intevac, Inc. has a 1-year low of $2.46 and a 1-year high of $4.51. The business has a 50-day moving average price of $3.05 and a 200 day moving average price of $3.44. The company has a market capitalization of $94.68 million, a P/E ratio of -10.64 and a beta of 0.66.

Intevac (NASDAQ:IVAC) last announced its quarterly earnings results on Monday, November 11th. The electronics maker reported ($0.08) earnings per share 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.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on IVAC shares. Benchmark restated a “hold” rating on shares of Intevac in a research note on Tuesday, November 12th. StockNews.com started coverage on Intevac in a research note on Wednesday. They issued a “hold” rating on the stock.

Intevac 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.