Needham Investment Management LLC Sells 50,000 Shares of Intevac, Inc. (NASDAQ:IVAC)

Needham Investment Management LLC lessened its holdings in shares of Intevac, Inc. (NASDAQ:IVAC) by 50.0% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 50,000 shares of the electronics maker’s stock after selling 50,000 shares during the period. Needham Investment Management LLC’s holdings in Intevac were worth $170,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Point72 Asia Singapore Pte. Ltd. bought a new stake in shares of Intevac during the 2nd quarter valued at about $144,000. Squarepoint Ops LLC boosted its position in Intevac by 24.7% during the 2nd quarter. Squarepoint Ops LLC now owns 66,317 shares of the electronics maker’s stock valued at $256,000 after acquiring an additional 13,144 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. grew its holdings in shares of Intevac by 9.8% during the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 112,336 shares of the electronics maker’s stock worth $382,000 after acquiring an additional 10,013 shares during the period. Acuitas Investments LLC raised its holdings in Intevac by 55.1% in the second quarter. Acuitas Investments LLC now owns 285,260 shares of the electronics maker’s stock worth $1,101,000 after purchasing an additional 101,344 shares in the last quarter. Finally, Renaissance Technologies LLC lifted its position in Intevac by 7.1% during the 2nd quarter. Renaissance Technologies LLC now owns 550,177 shares of the electronics maker’s stock valued at $2,124,000 after acquiring an additional 36,600 shares during the period. Institutional investors own 60.27% of the company’s stock.

Analysts Set New Price Targets

Several research firms have commented on IVAC. Benchmark reissued a “hold” rating on shares of Intevac in a report on Tuesday, November 12th. StockNews.com initiated coverage on Intevac in a research report on Saturday. They issued a “hold” rating on the stock.

Intevac Price Performance

Intevac stock opened at $2.66 on Wednesday. Intevac, Inc. has a one year low of $2.46 and a one year high of $4.57. The business’s fifty day moving average is $3.16 and its 200 day moving average is $3.54. The stock has a market capitalization of $71.74 million, a PE ratio of -8.06 and a beta of 0.74.

Intevac (NASDAQ:IVAC) last released its quarterly earnings data on Monday, November 11th. The electronics maker reported ($0.08) earnings per share for the quarter, beating the consensus estimate of ($0.15) by $0.07. Intevac had a negative net margin of 13.55% and a negative return on equity of 8.82%. The firm had revenue of $28.51 million during the quarter.

Intevac 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.