Intevac (NASDAQ:IVAC) Stock Price Passes Above 200-Day Moving Average – Here’s Why

Intevac, Inc. (NASDAQ:IVAC) shares crossed above its two hundred day moving average during trading on Thursday . The stock has a two hundred day moving average of $3.40 and traded as high as $3.49. Intevac shares last traded at $3.44, with a volume of 62,627 shares traded.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on IVAC. StockNews.com assumed coverage on shares of Intevac in a report on Wednesday, January 1st. They issued a “hold” rating on the stock. Benchmark reissued a “hold” rating on shares of Intevac in a report on Tuesday, November 12th.

Intevac Price Performance

The firm’s fifty day moving average price is $3.17 and its 200-day moving average price is $3.39. The company has a market cap of $93.86 million, a price-to-earnings ratio of -10.55 and a beta of 0.66.

Intevac (NASDAQ:IVAC) last posted its earnings results on Monday, November 11th. The electronics maker reported ($0.08) EPS for the quarter, topping the consensus estimate of ($0.15) by $0.07. Intevac had a negative net margin of 13.55% and a negative return on equity of 8.82%. The firm had revenue of $28.51 million during the quarter.

Institutional Trading of Intevac

Several hedge funds have recently added to or reduced their stakes in IVAC. Royce & Associates LP increased its holdings in shares of Intevac by 1.2% during the third quarter. Royce & Associates LP now owns 3,545,897 shares of the electronics maker’s stock valued at $12,056,000 after purchasing an additional 43,052 shares during the period. Point72 Asia Singapore Pte. Ltd. bought a new position in Intevac in the 2nd quarter valued at about $144,000. Renaissance Technologies LLC increased its stake in Intevac by 7.1% during the 2nd quarter. Renaissance Technologies LLC now owns 550,177 shares of the electronics maker’s stock valued at $2,124,000 after buying an additional 36,600 shares during the period. Marquette Asset Management LLC raised its position in shares of Intevac by 29.0% during the 4th quarter. Marquette Asset Management LLC now owns 66,273 shares of the electronics maker’s stock worth $225,000 after buying an additional 14,888 shares in the last quarter. Finally, XTX Topco Ltd bought a new stake in shares of Intevac during the 3rd quarter worth about $49,000. Institutional investors own 60.27% of the company’s stock.

Intevac Company Profile

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.