Russell Investments Group Ltd. grew its position in shares of Intevac, Inc. (NASDAQ:IVAC – Free Report) by 608.5% during the 1st quarter, according to the company in its most recent filing with the SEC. The firm owned 143,112 shares of the electronics maker’s stock after purchasing an additional 122,912 shares during the quarter. Russell Investments Group Ltd. owned 0.55% of Intevac worth $1,049,000 as of its most recent filing with the SEC.
Several other hedge funds also recently modified their holdings of the company. Barclays PLC acquired a new position in shares of Intevac during the 1st quarter valued at $113,000. Royce & Associates LP increased its position in shares of Intevac by 3.9% during the 1st quarter. Royce & Associates LP now owns 2,600,152 shares of the electronics maker’s stock valued at $19,059,000 after purchasing an additional 96,698 shares during the period. Jump Financial LLC acquired a new position in shares of Intevac during the 1st quarter valued at $251,000. AMH Equity Ltd increased its position in shares of Intevac by 33.2% during the 1st quarter. AMH Equity Ltd now owns 333,000 shares of the electronics maker’s stock valued at $2,441,000 after purchasing an additional 83,000 shares during the period. Finally, Millennium Management LLC increased its position in shares of Intevac by 33.9% during the 4th quarter. Millennium Management LLC now owns 76,122 shares of the electronics maker’s stock valued at $493,000 after purchasing an additional 19,276 shares during the period. 73.67% of the stock is currently owned by institutional investors and hedge funds.
Analyst Upgrades and Downgrades
Several brokerages have recently issued reports on IVAC. StockNews.com initiated coverage on Intevac in a research report on Thursday, August 17th. They set a “sell” rating on the stock. Benchmark cut Intevac from a “buy” rating to a “hold” rating in a report on Wednesday, June 14th. Partner Cap Sec restated a “fundamental buy” rating on shares of Intevac in a report on Thursday, May 4th. Finally, TheStreet cut Intevac from a “c-” rating to a “d+” rating in a report on Tuesday, June 6th.
Intevac Stock Down 1.4 %
Shares of NASDAQ IVAC opened at $3.47 on Friday. The stock has a market capitalization of $91.26 million, a price-to-earnings ratio of -5.88 and a beta of 0.62. The stock’s fifty day simple moving average is $3.59 and its 200 day simple moving average is $5.26. Intevac, Inc. has a 52-week low of $3.35 and a 52-week high of $7.54.
Intevac (NASDAQ:IVAC – Get Free Report) last issued its earnings results on Wednesday, August 2nd. The electronics maker reported ($0.19) EPS for the quarter, topping the consensus estimate of ($0.21) by $0.02. The business had revenue of $10.30 million during the quarter, compared to analysts’ expectations of $8.50 million. Intevac had a negative return on equity of 12.79% and a negative net margin of 34.60%. As a group, analysts anticipate that Intevac, Inc. will post -0.78 earnings per share for the current year.
Intevac Company Profile
Intevac, Inc, together with its subsidiaries, designs and develops 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 for the hard disk drive, display cover panel, and other adjacent thin-film markets.
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