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

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

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

Intevac Price Performance

IVAC stock opened at $2.79 on Friday. The company’s 50 day simple moving average is $3.19 and its 200-day simple moving average is $3.56. Intevac has a 12 month low of $2.46 and a 12 month high of $4.57. The firm has a market capitalization of $75.25 million, a PE ratio of -8.45 and a beta of 0.79.

Intevac (NASDAQ:IVAC) last announced its earnings results on Monday, November 11th. The electronics maker reported ($0.08) EPS for the quarter, beating analysts’ consensus estimates of ($0.15) by $0.07. The firm had revenue of $28.51 million for the quarter. Intevac had a negative return on equity of 8.82% and a negative net margin of 13.55%.

Hedge Funds Weigh In On Intevac

Several institutional investors and hedge funds have recently modified their holdings of the company. Vanguard Group Inc. grew its stake in Intevac by 6.6% in the 1st quarter. Vanguard Group Inc. now owns 1,360,066 shares of the electronics maker’s stock worth $5,223,000 after acquiring an additional 83,958 shares during the period. Acuitas Investments LLC grew its position in shares of Intevac by 55.1% in the second quarter. Acuitas Investments LLC now owns 285,260 shares of the electronics maker’s stock valued at $1,101,000 after purchasing an additional 101,344 shares during the period. Renaissance Technologies LLC increased its stake in Intevac by 7.1% in the second quarter. Renaissance Technologies LLC now owns 550,177 shares of the electronics maker’s stock valued at $2,124,000 after purchasing an additional 36,600 shares during the last quarter. Squarepoint Ops LLC lifted its position in Intevac by 24.7% during the second quarter. Squarepoint Ops LLC now owns 66,317 shares of the electronics maker’s stock worth $256,000 after buying an additional 13,144 shares during the period. Finally, Point72 Asia Singapore Pte. Ltd. acquired a new stake in Intevac in the 2nd quarter worth about $144,000. 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.