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

StockNews.com assumed coverage on shares of Intevac (NASDAQ:IVAC) in a report released on Saturday morning. The brokerage issued a sell rating on the electronics maker’s stock.

Intevac Trading Down 0.1 %

Intevac stock opened at $4.00 on Friday. Intevac has a 12-month low of $2.46 and a 12-month high of $4.42. The firm has a market capitalization of $108.54 million, a price-to-earnings ratio of -12.11 and a beta of 0.62. The firm has a 50 day moving average of $3.83 and a 200 day moving average of $3.45.

Intevac Announces Dividend

The firm also recently declared a special dividend, which was paid on Friday, March 28th. Shareholders of record on Monday, March 24th were paid a $0.052 dividend. The ex-dividend date of this dividend was Monday, March 24th. Intevac’s payout ratio is -60.61%.

Hedge Funds Weigh In On Intevac

A number of hedge funds and other institutional investors have recently modified their holdings of IVAC. Connor Clark & Lunn Investment Management Ltd. lifted its stake in Intevac by 9.8% in the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 112,336 shares of the electronics maker’s stock worth $382,000 after purchasing an additional 10,013 shares in the last quarter. Geode Capital Management LLC lifted its position in shares of Intevac by 2.9% in the third quarter. Geode Capital Management LLC now owns 287,163 shares of the electronics maker’s stock worth $977,000 after buying an additional 8,063 shares in the last quarter. XTX Topco Ltd bought a new position in Intevac during the third quarter valued at approximately $49,000. Marquette Asset Management LLC grew its holdings in Intevac by 29.0% during the 4th quarter. Marquette Asset Management LLC now owns 66,273 shares of the electronics maker’s stock valued at $225,000 after buying an additional 14,888 shares in the last quarter. Finally, Peapod Lane Capital LLC bought a new stake in Intevac in the 4th quarter worth approximately $1,562,000. Institutional investors own 60.27% of the company’s stock.

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.