Intevac, Inc. (NASDAQ:IVAC – Get Rating) saw a significant drop in short interest during the month of December. As of December 15th, there was short interest totalling 90,700 shares, a drop of 11.2% from the November 30th total of 102,100 shares. Based on an average daily volume of 0 shares, the days-to-cover ratio is presently ∞ days.
Analyst Ratings Changes
Separately, StockNews.com started coverage on Intevac in a report on Thursday, December 22nd. They set a “hold” rating on the stock.
Hedge Funds Weigh In On Intevac
A number of hedge funds and other institutional investors have recently made changes to their positions in IVAC. Royce & Associates LP grew its holdings in shares of Intevac by 19.1% during the second quarter. Royce & Associates LP now owns 2,266,620 shares of the electronics maker’s stock worth $10,970,000 after buying an additional 362,884 shares during the last quarter. Gabelli Funds LLC grew its holdings in shares of Intevac by 1,365.1% during the first quarter. Gabelli Funds LLC now owns 197,850 shares of the electronics maker’s stock worth $1,058,000 after buying an additional 184,346 shares during the last quarter. Potrero Capital Research LLC purchased a new position in shares of Intevac during the first quarter worth about $678,000. GABELLI & Co INVESTMENT ADVISERS INC. purchased a new stake in Intevac in the 1st quarter valued at approximately $594,000. Finally, Westerly Capital Management LLC boosted its holdings in Intevac by 17.5% in the 1st quarter. Westerly Capital Management LLC now owns 690,000 shares of the electronics maker’s stock valued at $3,692,000 after purchasing an additional 103,000 shares in the last quarter. Hedge funds and other institutional investors own 68.37% of the company’s stock.
Intevac Stock Performance
Shares of IVAC stock opened at $6.47 on Monday. The stock’s 50-day moving average is $5.66 and its two-hundred day moving average is $5.09. The firm has a market cap of $164.60 million, a price-to-earnings ratio of 5.35 and a beta of 0.74. Intevac has a 1 year low of $4.29 and a 1 year high of $6.50.
Intevac (NASDAQ:IVAC – Get Rating) last released its quarterly earnings results on Wednesday, November 2nd. The electronics maker reported ($0.13) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.15) by $0.02. Intevac had a negative return on equity of 14.20% and a net margin of 73.17%. The firm had revenue of $10.75 million for the quarter, compared to analyst estimates of $9.75 million. As a group, research analysts predict that Intevac will post -0.71 EPS for the current year.
Intevac, Inc, together with its subsidiaries, designs and develops thin-film processing systems primarily in the United States and Asia. It designs, develops, and markets vacuum process equipment solutions for manufacturing small substrates with precise thin-film properties, such as for the hard disk drive, display cover panel, and other adjacent thin-film markets.
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