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

Equities research analysts at StockNews.com initiated coverage on shares of Intevac (NASDAQ:IVAC) in a research report issued on Sunday. The brokerage set a “sell” rating on the electronics maker’s stock.

Intevac Price Performance

Shares of Intevac stock opened at $4.00 on Friday. Intevac has a 1-year low of $2.46 and a 1-year high of $4.42. The company’s fifty day simple moving average is $3.89 and its 200-day simple moving average is $3.47. The stock has a market capitalization of $108.54 million, a PE ratio of -12.11 and a beta of 0.62.

Institutional Investors Weigh In On Intevac

Several hedge funds and other institutional investors have recently added to or reduced their stakes in IVAC. Squarepoint Ops LLC boosted its position in shares of Intevac by 56.5% in the fourth quarter. Squarepoint Ops LLC now owns 76,256 shares of the electronics maker’s stock worth $259,000 after purchasing an additional 27,532 shares during the period. Cubist Systematic Strategies LLC lifted its stake in shares of Intevac by 203.2% during the 4th 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. Bridgeway Capital Management LLC boosted its holdings in Intevac by 38.9% in the 4th quarter. Bridgeway Capital Management LLC now owns 81,700 shares of the electronics maker’s stock worth $278,000 after buying an additional 22,900 shares during the period. Boothbay Fund Management LLC increased its stake in Intevac by 49.2% in the 4th 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 in the last quarter. Finally, Price T Rowe Associates Inc. MD increased its stake in Intevac by 32.3% in the 4th 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 in the last quarter. 60.27% of the stock is owned by hedge funds and other 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.