Intevac (NASDAQ:IVAC) Stock Rating Upgraded by StockNews.com

StockNews.com upgraded shares of Intevac (NASDAQ:IVAC) from a sell rating to a hold rating in a research note released on Friday.

Intevac Stock Down 1.2 %

Shares of NASDAQ IVAC opened at $3.40 on Friday. The stock’s fifty day simple moving average is $3.73 and its 200 day simple moving average is $3.85. The stock has a market capitalization of $91.56 million, a price-to-earnings ratio of -8.95 and a beta of 0.80. Intevac has a 52-week low of $3.07 and a 52-week high of $4.57.

Intevac (NASDAQ:IVAC) last posted its quarterly earnings data 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 period in the prior year, the business posted ($0.19) EPS.

Hedge Funds Weigh In On Intevac

A number of hedge funds have recently modified their holdings of IVAC. BNP Paribas Financial Markets grew its stake in Intevac by 42.9% in the first quarter. BNP Paribas Financial Markets now owns 11,504 shares of the electronics maker’s stock valued at $44,000 after purchasing an additional 3,452 shares in the last quarter. Teton Advisors Inc. increased its holdings in Intevac by 1.5% in the first quarter. Teton Advisors Inc. now owns 305,000 shares of the electronics maker’s stock worth $1,171,000 after buying an additional 4,500 shares during the last quarter. Gamco Investors INC. ET AL increased its holdings in Intevac by 1.0% in the first quarter. Gamco Investors INC. ET AL now owns 561,228 shares of the electronics maker’s stock worth $2,155,000 after buying an additional 5,800 shares during the last quarter. Firsthand Capital Management Inc. bought a new position in Intevac during the fourth quarter valued at approximately $25,000. Finally, Gabelli Funds LLC lifted its stake in Intevac by 1.8% in the first quarter. Gabelli Funds LLC now owns 359,086 shares of the electronics maker’s stock valued at $1,379,000 after acquiring an additional 6,406 shares during the last quarter. 60.27% of the stock is 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.