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

Analysts at StockNews.com assumed coverage on shares of Intevac (NASDAQ:IVAC - Get Free Report) in a research note issued to investors on Thursday. The firm set a "hold" rating on the electronics maker's stock.

Separately, Benchmark reissued a "hold" rating on shares of Intevac in a research report on Tuesday.

Intevac Price Performance

Shares of NASDAQ IVAC traded up $0.07 during trading on Thursday, hitting $2.58. The stock had a trading volume of 237,314 shares, compared to its average volume of 79,699. The firm has a fifty day moving average of $3.37 and a two-hundred day moving average of $3.69. The company has a market capitalization of $69.48 million, a PE ratio of -7.79 and a beta of 0.79. Intevac has a 12 month low of $2.46 and a 12 month high of $4.57.

Intevac (NASDAQ:IVAC - Get Free Report) last issued its quarterly 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 business had revenue of $28.51 million for the quarter. Intevac had a negative net margin of 13.55% and a negative return on equity of 8.82%.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the company. Connor Clark & Lunn Investment Management Ltd. boosted its stake in Intevac by 9.8% in the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 112,336 shares of the electronics maker's stock worth $382,000 after purchasing an additional 10,013 shares in the last quarter. Royce & Associates LP grew its position in 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 buying an additional 43,052 shares during the period. Point72 Asia Singapore Pte. Ltd. acquired a new stake in shares of Intevac during the 2nd quarter valued at about $144,000. Squarepoint Ops LLC grew its position in shares of Intevac by 24.7% during the 2nd quarter. Squarepoint Ops LLC now owns 66,317 shares of the electronics maker's stock valued at $256,000 after acquiring an additional 13,144 shares during the period. Finally, Renaissance Technologies LLC grew its position in shares of Intevac by 7.1% during the 2nd quarter. Renaissance Technologies LLC now owns 550,177 shares of the electronics maker's stock valued at $2,124,000 after acquiring an additional 36,600 shares during the period. 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.