Benchmark Reaffirms Hold Rating for Intevac (NASDAQ:IVAC)

Intevac (NASDAQ:IVAC - Get Free Report)'s stock had its "hold" rating reaffirmed by equities research analysts at Benchmark in a note issued to investors on Tuesday,Benzinga reports.

Separately, StockNews.com initiated coverage on shares of Intevac in a report on Wednesday, November 6th. They set a "hold" rating on the stock.

Intevac Stock Performance

Intevac stock traded down $0.80 during trading hours on Tuesday, hitting $2.50. The company had a trading volume of 1,228,284 shares, compared to its average volume of 77,969. The company has a 50-day moving average price of $3.41 and a two-hundred day moving average price of $3.71. Intevac has a 1 year low of $2.46 and a 1 year high of $4.57. The firm has a market cap of $67.34 million, a P/E ratio of -8.35 and a beta of 0.79.

Institutional Investors Weigh In On Intevac

Several hedge funds have recently modified their holdings of the company. BNP Paribas Financial Markets raised its holdings 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 buying an additional 3,452 shares during the period. Teton Advisors Inc. boosted its position in shares of Intevac by 1.5% during 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 period. Gamco Investors INC. ET AL lifted its position 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 purchasing an additional 5,800 shares during the period. Gabelli Funds LLC lifted its position in shares of Intevac by 1.8% during the 1st 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. Finally, Connor Clark & Lunn Investment Management Ltd. raised its stake in Intevac by 9.8% during the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 112,336 shares of the electronics maker's stock valued at $382,000 after purchasing an additional 10,013 shares during the period. 60.27% of the stock is owned by institutional investors and hedge funds.

Intevac Company 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.