Intevac (NASDAQ:IVAC) Now Covered by StockNews.com

Research analysts at StockNews.com assumed coverage on shares of Intevac (NASDAQ:IVAC - Get Free Report) in a research report issued on Wednesday. The brokerage set a "hold" rating on the electronics maker's stock.

Separately, Benchmark reaffirmed a "hold" rating on shares of Intevac in a report on Tuesday, November 12th.

Intevac Stock Down 1.2 %

Shares of Intevac stock traded down $0.04 on Wednesday, reaching $3.40. The company's stock had a trading volume of 59,051 shares, compared to its average volume of 88,251. Intevac has a 52 week low of $2.46 and a 52 week high of $4.51. The firm's fifty day simple moving average is $3.05 and its two-hundred day simple moving average is $3.44. The company has a market capitalization of $91.71 million, a price-to-earnings ratio of -10.30 and a beta of 0.74.

Intevac (NASDAQ:IVAC - Get Free Report) last issued its earnings results on Monday, November 11th. The electronics maker reported ($0.08) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.15) by $0.07. The company 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%.

Hedge Funds Weigh In On Intevac

Several large investors have recently added to or reduced their stakes in IVAC. Connor Clark & Lunn Investment Management Ltd. lifted its holdings 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. Squarepoint Ops LLC raised its position in shares of Intevac by 24.7% during the second quarter. Squarepoint Ops LLC now owns 66,317 shares of the electronics maker's stock valued at $256,000 after buying an additional 13,144 shares during the last quarter. Point72 Asia Singapore Pte. Ltd. bought a new stake in shares of Intevac during the second quarter valued at approximately $144,000. Renaissance Technologies LLC boosted its position in shares of Intevac by 7.1% during the second quarter. Renaissance Technologies LLC now owns 550,177 shares of the electronics maker's stock worth $2,124,000 after acquiring an additional 36,600 shares during the last quarter. Finally, Acuitas Investments LLC grew its stake in Intevac by 55.1% during the second 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 in the last quarter. 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.