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

Investment analysts at StockNews.com initiated coverage on shares of Intevac (NASDAQ:IVAC - Get Free Report) in a note issued to investors on Sunday. The brokerage set a "hold" rating on the electronics maker's stock.

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

Intevac Trading Up 2.6 %

Shares of NASDAQ:IVAC traded up $0.07 during midday trading on Friday, hitting $2.80. 82,247 shares of the stock were exchanged, compared to its average volume of 176,275. Intevac has a twelve month low of $2.46 and a twelve month high of $4.57. The company has a 50 day moving average price of $3.12 and a 200-day moving average price of $3.51. The stock has a market cap of $75.52 million, a P/E ratio of -8.48 and a beta of 0.74.

Intevac (NASDAQ:IVAC - Get Free Report) last posted its earnings results on Monday, November 11th. The electronics maker reported ($0.08) earnings per share for the quarter, beating the consensus estimate of ($0.15) by $0.07. Intevac had a negative net margin of 13.55% and a negative return on equity of 8.82%. The firm had revenue of $28.51 million during the quarter.

Institutional Trading of Intevac

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in IVAC. XTX Topco Ltd purchased a new stake in shares of Intevac during the third quarter worth about $49,000. Point72 Asia Singapore Pte. Ltd. purchased a new position in shares of Intevac during the second quarter valued at approximately $144,000. Squarepoint Ops LLC boosted 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 acquiring an additional 13,144 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. grew 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 acquiring an additional 10,013 shares during the period. Finally, RBF Capital LLC raised its holdings in Intevac by 6.6% in the 3rd quarter. RBF Capital LLC now owns 221,553 shares of the electronics maker's stock valued at $753,000 after acquiring an additional 13,777 shares during the last quarter. Hedge funds and other institutional investors own 60.27% of the company's stock.

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.