Intevac (NASDAQ:IVAC) Earns Hold Rating from Benchmark

Intevac (NASDAQ:IVAC)‘s stock had its “hold” rating reaffirmed by Benchmark in a research report issued on Tuesday,Benzinga reports.

Separately, StockNews.com assumed coverage on Intevac in a research note on Wednesday, November 6th. They issued a “hold” rating on the stock.

Intevac Trading Down 1.4 %

Shares of IVAC opened at $2.51 on Tuesday. The stock has a 50 day moving average of $3.37 and a 200 day moving average of $3.69. Intevac has a 12 month low of $2.46 and a 12 month high of $4.57. The company has a market capitalization of $67.59 million, a price-to-earnings ratio of -7.61 and a beta of 0.79.

Intevac (NASDAQ:IVAC) last released its 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. The firm 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 Trading of Intevac

Several hedge funds and other institutional investors have recently modified their holdings of IVAC. 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 valued at $382,000 after buying an additional 10,013 shares in the last quarter. Royce & Associates LP boosted its holdings 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 acquiring an additional 43,052 shares during the period. Point72 Asia Singapore Pte. Ltd. purchased a new position in shares of Intevac in the second quarter valued at $144,000. Squarepoint Ops LLC raised its stake in shares of Intevac by 24.7% during the 2nd 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 during the period. Finally, Renaissance Technologies LLC lifted its holdings in Intevac by 7.1% during the 2nd 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 in the last quarter. 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.