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

StockNews.com started coverage on shares of Intevac (NASDAQ:IVAC - Free Report) in a research report released on Wednesday. The brokerage issued a hold rating on the electronics maker's stock.

Intevac Stock Performance

IVAC stock traded up $0.06 during midday trading on Wednesday, reaching $3.31. 24,227 shares of the company were exchanged, compared to its average volume of 20,917. Intevac has a 1-year low of $3.23 and a 1-year high of $4.57. The stock's 50-day simple moving average is $3.42 and its 200 day simple moving average is $3.72. The company has a market cap of $89.14 million, a price-to-earnings ratio of -10.68 and a beta of 0.79.

Intevac (NASDAQ:IVAC - Get Free Report) last announced its earnings results on Monday, August 5th. The electronics maker reported ($0.12) EPS for the quarter, beating analysts' consensus estimates of ($0.21) by $0.09. The business had revenue of $14.53 million for 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 previous year, the firm earned ($0.19) earnings per share.

Hedge Funds Weigh In On Intevac

Institutional investors have recently modified their holdings of the business. BNP Paribas Financial Markets increased its holdings in shares of Intevac by 42.9% in the 1st quarter. BNP Paribas Financial Markets now owns 11,504 shares of the electronics maker's stock valued at $44,000 after acquiring an additional 3,452 shares during the period. Point72 Asia Singapore Pte. Ltd. acquired a new position in Intevac in the 2nd quarter valued at $144,000. Squarepoint Ops LLC increased its stake in Intevac by 24.7% in the 2nd 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 period. GSA Capital Partners LLP increased its stake in Intevac by 94.2% in the 1st quarter. GSA Capital Partners LLP now owns 111,475 shares of the electronics maker's stock valued at $428,000 after buying an additional 54,060 shares during the period. Finally, Acuitas Investments LLC increased its stake in Intevac by 55.1% in the 2nd quarter. Acuitas Investments LLC now owns 285,260 shares of the electronics maker's stock valued at $1,101,000 after buying an additional 101,344 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.