Intevac (NASDAQ:IVAC) Upgraded to “Hold” at StockNews.com

StockNews.com upgraded shares of Intevac (NASDAQ:IVAC) from a sell rating to a hold rating in a report published on Friday.

Intevac Trading Down 1.2 %

Shares of IVAC stock opened at $3.40 on Friday. Intevac has a 1 year low of $3.07 and a 1 year high of $4.57. The stock has a market cap of $91.56 million, a P/E ratio of -8.95 and a beta of 0.80. The stock has a 50 day simple moving average of $3.73 and a 200 day simple moving average of $3.85.

Intevac (NASDAQ:IVAC) last issued its quarterly earnings results on Monday, August 5th. The electronics maker reported ($0.12) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.21) by $0.09. The company had revenue of $14.53 million for the quarter. Intevac had a negative return on equity of 6.80% and a negative net margin of 15.08%. During the same quarter in the previous year, the business posted ($0.19) EPS.

Institutional Investors Weigh In On Intevac

Several large investors have recently modified their holdings of the company. Firsthand Capital Management Inc. bought a new stake in shares of Intevac during the fourth quarter valued at approximately $25,000. BNP Paribas Financial Markets lifted its position in shares of Intevac by 42.9% during the 1st quarter. BNP Paribas Financial Markets now owns 11,504 shares of the electronics maker’s stock valued at $44,000 after buying an additional 3,452 shares during the last quarter. Point72 Asia Singapore Pte. Ltd. bought a new stake in Intevac during the second quarter valued at approximately $144,000. Squarepoint Ops LLC lifted its holdings in shares of Intevac by 24.7% in the 2nd 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. Finally, Aristides Capital LLC increased its stake in Intevac by 44.0% in the 4th quarter. Aristides Capital LLC now owns 80,117 shares of the electronics maker’s stock worth $346,000 after purchasing an additional 24,462 shares during the period. 60.27% of the stock is currently owned by institutional investors and hedge funds.

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.