Short Interest in Intevac, Inc. (NASDAQ:IVAC) Drops By 16.7%

Intevac, Inc. (NASDAQ:IVAC) saw a large decrease in short interest during the month of February. As of February 28th, there was short interest totalling 97,500 shares, a decrease of 16.7% from the February 13th total of 117,100 shares. Currently, 0.4% of the shares of the stock are short sold. Based on an average trading volume of 332,500 shares, the days-to-cover ratio is currently 0.3 days.

Intevac Price Performance

NASDAQ:IVAC traded down $0.01 during mid-day trading on Wednesday, reaching $4.03. The stock had a trading volume of 119,556 shares, compared to its average volume of 153,841. The stock has a market cap of $109.49 million, a P/E ratio of -12.21 and a beta of 0.62. The business’s 50 day moving average is $3.74 and its 200 day moving average is $3.41. Intevac has a fifty-two week low of $2.46 and a fifty-two week high of $4.42.

Intevac Dividend Announcement

The company also recently announced a special dividend, which will be paid on Friday, March 28th. Investors of record on Monday, March 24th will be given a $0.052 dividend. The ex-dividend date is Monday, March 24th. Intevac’s dividend payout ratio (DPR) is currently -60.61%.

Analyst Ratings Changes

Separately, StockNews.com started coverage on Intevac in a report on Thursday, March 13th. They set a “sell” rating on the stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the company. Cubist Systematic Strategies LLC increased its stake in shares of Intevac by 203.2% in the fourth quarter. Cubist Systematic Strategies LLC now owns 10,713 shares of the electronics maker’s stock valued at $36,000 after buying an additional 7,180 shares in the last quarter. XTX Topco Ltd bought a new position in Intevac in the third quarter valued at about $49,000. Boothbay Fund Management LLC boosted its holdings in Intevac by 49.2% during the fourth quarter. Boothbay Fund Management LLC now owns 34,426 shares of the electronics maker’s stock worth $117,000 after buying an additional 11,353 shares during the last quarter. Price T Rowe Associates Inc. MD boosted its holdings in Intevac by 32.3% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 39,700 shares of the electronics maker’s stock worth $135,000 after buying an additional 9,700 shares during the last quarter. Finally, Marquette Asset Management LLC boosted its holdings in Intevac by 29.0% during the fourth quarter. Marquette Asset Management LLC now owns 66,273 shares of the electronics maker’s stock worth $225,000 after buying an additional 14,888 shares during the last quarter. 60.27% of the stock is owned by 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.