Intevac (NASDAQ:IVAC) Upgraded at StockNews.com

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

Intevac Price Performance

Shares of IVAC stock opened at $3.44 on Friday. The stock has a market cap of $91.45 million, a PE ratio of -9.05 and a beta of 0.80. The stock has a 50-day moving average of $3.73 and a 200-day moving average of $3.85. Intevac has a one year low of $3.07 and a one year high of $4.57.

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

Institutional Trading of Intevac

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

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.