Intevac, Inc. (NASDAQ:IVAC – Get Free Report) was the recipient of a significant drop in short interest during the month of June. As of June 30th, there was short interest totalling 734,000 shares, a drop of 12.4% from the June 15th total of 838,200 shares. Based on an average daily volume of 126,100 shares, the days-to-cover ratio is presently 5.8 days.
Analysts Set New Price Targets
Separately, StockNews.com raised shares of Intevac from a “sell” rating to a “hold” rating in a report on Tuesday, July 2nd.
Check Out Our Latest Report on IVAC
Intevac Stock Down 1.0 %
Intevac (NASDAQ:IVAC – Get Free Report) last posted its earnings results on Thursday, April 25th. The electronics maker reported ($0.10) earnings per share (EPS) for the quarter. The firm had revenue of $9.63 million during the quarter. Intevac had a negative net margin of 19.52% and a negative return on equity of 8.17%.
Institutional Investors Weigh In On Intevac
Several hedge funds have recently modified their holdings of the company. Vanguard Group Inc. increased its stake in shares of Intevac by 6.6% during the first quarter. Vanguard Group Inc. now owns 1,360,066 shares of the electronics maker’s stock worth $5,223,000 after purchasing an additional 83,958 shares in the last quarter. Gamco Investors INC. ET AL raised its holdings in shares of Intevac by 1.0% during the first quarter. Gamco Investors INC. ET AL now owns 561,228 shares of the electronics maker’s stock valued at $2,155,000 after acquiring an additional 5,800 shares during the last quarter. Palogic Value Management L.P. lifted its position in shares of Intevac by 22.1% in the fourth quarter. Palogic Value Management L.P. now owns 372,457 shares of the electronics maker’s stock valued at $1,609,000 after acquiring an additional 67,457 shares in the last quarter. Gabelli Funds LLC boosted its stake in shares of Intevac by 1.8% in the first quarter. Gabelli Funds LLC now owns 359,086 shares of the electronics maker’s stock worth $1,379,000 after acquiring an additional 6,406 shares during the last quarter. Finally, Teton Advisors Inc. increased its position in shares of Intevac by 1.5% during the first quarter. Teton Advisors Inc. now owns 305,000 shares of the electronics maker’s stock worth $1,171,000 after purchasing an additional 4,500 shares in the last quarter. 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.
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