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

StockNews.com began coverage on shares of Intevac (NASDAQ:IVAC) in a research note published on Sunday morning. The brokerage issued a sell rating on the electronics maker’s stock.

Intevac Stock Performance

Shares of NASDAQ:IVAC opened at $4.00 on Friday. The firm has a market cap of $108.54 million, a price-to-earnings ratio of -12.11 and a beta of 0.62. Intevac has a fifty-two week low of $2.46 and a fifty-two week high of $4.42. The firm has a fifty day moving average price of $3.91 and a 200 day moving average price of $3.48.

Intevac Dividend Announcement

The company also recently disclosed a special dividend, which was paid on Friday, March 28th. Shareholders of record on Monday, March 24th were issued a dividend of $0.052 per share. The ex-dividend date was Monday, March 24th. Intevac’s payout ratio is currently -60.61%.

Hedge Funds Weigh In On Intevac

Institutional investors have recently bought and sold shares of the business. XTX Topco Ltd acquired a new stake in Intevac in the third quarter valued at approximately $49,000. Geode Capital Management LLC lifted its holdings in shares of Intevac by 2.9% during the third quarter. Geode Capital Management LLC now owns 287,163 shares of the electronics maker’s stock worth $977,000 after purchasing an additional 8,063 shares during the period. Marquette Asset Management LLC boosted its holdings in shares of Intevac by 29.0% in the 4th quarter. Marquette Asset Management LLC now owns 66,273 shares of the electronics maker’s stock valued at $225,000 after acquiring an additional 14,888 shares during the last quarter. Peapod Lane Capital LLC purchased a new stake in Intevac in the fourth quarter valued at $1,562,000. Finally, Renaissance Technologies LLC grew its holdings in Intevac by 7.8% during the fourth quarter. Renaissance Technologies LLC now owns 619,977 shares of the electronics maker’s stock worth $2,108,000 after acquiring an additional 44,804 shares during the period. 60.27% of the stock is owned by hedge funds and other institutional investors.

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.