Intevac (NASDAQ:IVAC) Issues Earnings Results

Intevac (NASDAQ:IVAC) released its quarterly earnings data on Thursday. The electronics maker reported ($0.10) earnings per share for the quarter, reports. Intevac had a negative return on equity of 8.17% and a negative net margin of 19.52%. The company had revenue of $9.63 million for the quarter.

Intevac Stock Up 7.3 %

Shares of IVAC stock opened at $4.39 on Friday. The business’s fifty day moving average price is $3.83 and its 200 day moving average price is $3.89. Intevac has a 1-year low of $3.07 and a 1-year high of $6.48.

Analyst Ratings Changes

Separately, StockNews.com lowered shares of Intevac from a “hold” rating to a “sell” rating in a research note on Friday.

Institutional Investors Weigh In On Intevac

A number of hedge funds and other institutional investors have recently bought and sold shares of IVAC. Gamco Investors INC. ET AL increased its holdings in shares of Intevac by 41.1% in the 3rd quarter. Gamco Investors INC. ET AL now owns 552,435 shares of the electronics maker’s stock valued at $1,718,000 after purchasing an additional 160,935 shares in the last quarter. Palogic Value Management L.P. boosted its stake in shares of Intevac by 22.1% during the 4th quarter. Palogic Value Management L.P. now owns 372,457 shares of the electronics maker’s stock worth $1,609,000 after acquiring an additional 67,457 shares in the last quarter. Gabelli Funds LLC grew its holdings in shares of Intevac by 11.2% in the 4th quarter. Gabelli Funds LLC now owns 352,680 shares of the electronics maker’s stock worth $1,524,000 after acquiring an additional 35,628 shares during the period. Teton Advisors Inc. increased its stake in Intevac by 3.3% in the 3rd quarter. Teton Advisors Inc. now owns 317,000 shares of the electronics maker’s stock valued at $986,000 after purchasing an additional 10,000 shares in the last quarter. Finally, Potomac Capital Management Inc. raised its holdings in Intevac by 48.6% during the third quarter. Potomac Capital Management Inc. now owns 260,000 shares of the electronics maker’s stock worth $809,000 after purchasing an additional 85,000 shares during the last quarter. Institutional investors and hedge funds 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.