Intevac (NASDAQ:IVAC) Coverage Initiated by Analysts at StockNews.com

StockNews.com assumed coverage on shares of Intevac (NASDAQ:IVAC) in a research note published on Thursday. The firm issued a hold rating on the electronics maker’s stock.

Separately, Benchmark reissued a “hold” rating on shares of Intevac in a research note on Tuesday.

Intevac Stock Performance

NASDAQ:IVAC traded down $0.01 during trading hours on Thursday, reaching $2.57. The company had a trading volume of 109,758 shares, compared to its average volume of 79,834. The stock has a 50-day moving average of $3.37 and a two-hundred day moving average of $3.69. Intevac has a one year low of $2.46 and a one year high of $4.57.

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

Hedge Funds Weigh In On Intevac

Several large investors have recently made changes to their positions in the company. BNP Paribas Financial Markets grew its holdings in Intevac by 42.9% during the first quarter. BNP Paribas Financial Markets now owns 11,504 shares of the electronics maker’s stock valued at $44,000 after purchasing an additional 3,452 shares during the period. Point72 Asia Singapore Pte. Ltd. bought a new stake in shares of Intevac in the second quarter valued at about $144,000. Squarepoint Ops LLC lifted its holdings in shares of Intevac by 24.7% in the second quarter. Squarepoint Ops LLC now owns 66,317 shares of the electronics maker’s stock valued at $256,000 after purchasing an additional 13,144 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. increased its position in shares of Intevac by 9.8% in the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 112,336 shares of the electronics maker’s stock valued at $382,000 after acquiring an additional 10,013 shares during the last quarter. Finally, RBF Capital LLC increased its position in shares of Intevac by 6.6% in the third 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. Institutional investors and hedge funds 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.