Intevac (NASDAQ:IVAC) Research Coverage Started at StockNews.com

StockNews.com initiated coverage on shares of Intevac (NASDAQ:IVAC) in a research note issued to investors on Thursday morning. The brokerage issued a sell rating on the electronics maker’s stock.

Intevac Stock Performance

Shares of IVAC opened at $4.03 on Thursday. The firm has a market capitalization of $109.49 million, a P/E ratio of -12.21 and a beta of 0.62. Intevac has a 12-month low of $2.46 and a 12-month high of $4.42. The firm has a fifty day moving average price of $3.72 and a 200-day moving average price of $3.40.

Intevac Announces Dividend

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

Institutional Trading of Intevac

A number of hedge funds have recently added to or reduced their stakes in the business. Royce & Associates LP raised its holdings in Intevac by 1.2% in the third quarter. Royce & Associates LP now owns 3,545,897 shares of the electronics maker’s stock worth $12,056,000 after purchasing an additional 43,052 shares in the last quarter. Renaissance Technologies LLC raised its holdings in Intevac by 7.8% in the fourth quarter. Renaissance Technologies LLC now owns 619,977 shares of the electronics maker’s stock worth $2,108,000 after purchasing an additional 44,804 shares in the last quarter. Gamco Investors INC. ET AL raised its holdings in Intevac by 13.7% in the fourth quarter. Gamco Investors INC. ET AL now owns 590,428 shares of the electronics maker’s stock worth $2,007,000 after purchasing an additional 71,100 shares in the last quarter. Peapod Lane Capital LLC bought a new position in Intevac in the fourth quarter worth about $1,562,000. Finally, Gabelli Funds LLC raised its holdings in Intevac by 1.9% in the fourth quarter. Gabelli Funds LLC now owns 317,299 shares of the electronics maker’s stock worth $1,079,000 after purchasing an additional 5,800 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.