Intevac’s (IVAC) Hold Rating Reiterated at Benchmark

Benchmark restated their hold rating on shares of Intevac (NASDAQ:IVAC) in a report published on Tuesday morning,Benzinga reports.

Separately, StockNews.com initiated coverage on shares of Intevac in a research note on Wednesday, November 6th. They issued a “hold” rating for the company.

Intevac Price Performance

Shares of IVAC traded down $0.07 during mid-day trading on Tuesday, hitting $2.51. 24,946 shares of the company’s stock were exchanged, compared to its average volume of 79,452. Intevac has a 52 week low of $2.46 and a 52 week high of $4.57. The company has a 50-day simple moving average of $3.37 and a 200 day simple moving average of $3.69.

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

Institutional Investors Weigh In On Intevac

Several hedge funds have recently added to or reduced their stakes in the business. Connor Clark & Lunn Investment Management Ltd. lifted its holdings 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 last quarter. Royce & Associates LP increased its position in shares of Intevac by 1.2% in the third quarter. Royce & Associates LP now owns 3,545,897 shares of the electronics maker’s stock worth $12,056,000 after purchasing an additional 43,052 shares during the period. Point72 Asia Singapore Pte. Ltd. bought a new position in shares of Intevac in the second quarter worth $144,000. Squarepoint Ops LLC increased its position 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 worth $256,000 after purchasing an additional 13,144 shares during the period. Finally, Renaissance Technologies LLC increased its position in shares of Intevac by 7.1% in the second quarter. Renaissance Technologies LLC now owns 550,177 shares of the electronics maker’s stock worth $2,124,000 after purchasing an additional 36,600 shares during the period. Institutional investors and hedge funds 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.