Intevac, Inc. (NASDAQ:IVAC) Short Interest Down 10.0% in September

Intevac, Inc. (NASDAQ:IVAC) saw a large decrease in short interest in the month of September. As of September 15th, there was short interest totalling 146,200 shares, a decrease of 10.0% from the August 31st total of 162,500 shares. Based on an average daily trading volume, of 103,300 shares, the short-interest ratio is presently 1.4 days.

Institutional Investors Weigh In On Intevac

Hedge funds have recently made changes to their positions in the company. Vanguard Group Inc. raised its holdings in shares of Intevac by 6.6% in the 1st quarter. Vanguard Group Inc. now owns 1,360,066 shares of the electronics maker’s stock valued at $5,223,000 after purchasing an additional 83,958 shares in the last quarter. Gamco Investors INC. ET AL raised its position in shares of Intevac by 1.0% in the 1st quarter. Gamco Investors INC. ET AL now owns 561,228 shares of the electronics maker’s stock worth $2,155,000 after acquiring an additional 5,800 shares in the last quarter. Renaissance Technologies LLC lifted its stake in shares of Intevac by 7.1% during the 2nd quarter. Renaissance Technologies LLC now owns 550,177 shares of the electronics maker’s stock worth $2,124,000 after purchasing an additional 36,600 shares during the last quarter. Palogic Value Management L.P. boosted its position in Intevac by 22.1% during the fourth quarter. Palogic Value Management L.P. now owns 372,457 shares of the electronics maker’s stock valued at $1,609,000 after purchasing an additional 67,457 shares in the last quarter. Finally, Gabelli Funds LLC grew its stake in Intevac by 1.8% in the first quarter. Gabelli Funds LLC now owns 359,086 shares of the electronics maker’s stock valued at $1,379,000 after purchasing an additional 6,406 shares during the last quarter. 60.27% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Separately, StockNews.com raised shares of Intevac from a “sell” rating to a “hold” rating in a report on Friday, September 6th.

Intevac Stock Down 0.9 %

IVAC stock opened at $3.40 on Tuesday. Intevac has a 52 week low of $3.08 and a 52 week high of $4.57. The firm has a market capitalization of $90.39 million, a P/E ratio of -8.95 and a beta of 0.80. The company has a fifty day simple moving average of $3.57 and a two-hundred day simple moving average of $3.80.

Intevac (NASDAQ:IVAC) last issued its quarterly earnings results on Monday, August 5th. The electronics maker reported ($0.12) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.21) by $0.09. The company had revenue of $14.53 million during the quarter. Intevac had a negative return on equity of 6.80% and a negative net margin of 15.08%. During the same quarter in the prior year, the business earned ($0.19) earnings per share.

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.