StockNews.com Initiates Coverage on Intevac (NASDAQ:IVAC)

StockNews.com initiated coverage on shares of Intevac (NASDAQ:IVAC) in a report issued on Friday. The firm issued a sell rating on the electronics maker’s stock.

Intevac Stock Performance

Intevac stock opened at $4.03 on Friday. The firm’s 50 day moving average price is $3.77 and its two-hundred day moving average price is $3.42. The firm has a market cap of $109.49 million, a PE ratio of -12.21 and a beta of 0.62. Intevac has a twelve month low of $2.46 and a twelve month high of $4.42.

Intevac Announces Dividend

The company also recently announced a special dividend, which will be paid on Friday, March 28th. Shareholders of record on Monday, March 24th will be paid a $0.052 dividend. The ex-dividend date of this dividend is Monday, March 24th. Intevac’s dividend payout ratio (DPR) is currently -60.61%.

Institutional Investors Weigh In On Intevac

A number of hedge funds and other institutional investors have recently made changes to their positions in IVAC. Gabelli Funds LLC grew its stake in shares of Intevac by 1.9% in the 4th quarter. Gabelli Funds LLC now owns 317,299 shares of the electronics maker’s stock valued at $1,079,000 after buying an additional 5,800 shares in the last quarter. Cubist Systematic Strategies LLC raised its position in Intevac by 203.2% during the fourth quarter. Cubist Systematic Strategies LLC now owns 10,713 shares of the electronics maker’s stock valued at $36,000 after acquiring an additional 7,180 shares in the last quarter. Geode Capital Management LLC lifted its stake in Intevac by 2.9% in the third quarter. Geode Capital Management LLC now owns 287,163 shares of the electronics maker’s stock valued at $977,000 after acquiring an additional 8,063 shares during the last quarter. Price T Rowe Associates Inc. MD grew its position in Intevac by 32.3% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 39,700 shares of the electronics maker’s stock worth $135,000 after acquiring an additional 9,700 shares in the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. increased its stake 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 purchasing an additional 10,013 shares during 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.