Intevac, Inc. Sees Significant Decline in Short Interest

Intevac, Inc. (NASDAQ:IVAC) experienced a notable decline in short interest during February. As of February 28th, the total short interest reached 97,500 shares, reflecting a decrease of 16.7% from the 117,100 shares reported on February 13th. This figure indicates that approximately 0.4% of Intevac's shares are currently short sold. With an average daily trading volume of 332,500 shares, the short-interest ratio now stands at 0.3 days.

Analysts Adjust Price Ratings

In a separate development, StockNews.com initiated coverage on Intevac's shares in a research report released on March 13th, assigning a "sell" rating to the stock.

Get Our Latest Stock Report on Intevac

Intevac's Stock Performance Sees Marginal Increase

On Tuesday, Intevac's stock rose by 0.2%, reaching $4.04. During this trading session, approximately 270,805 shares were traded, surpassing the company's average volume of 154,024 shares. Over the past year, Intevac has seen a low of $2.46 and a high of $4.42. The company's current market capitalization is $109.76 million, with a price-to-earnings (P/E) ratio of -12.24 and a beta value of 0.62. The 50-day moving average is recorded at $3.73, while the 200-day moving average stands at $3.41.

Special Dividend Announcement from Intevac

Intevac has also announced a special dividend, which is set to be paid on March 28th. Shareholders recorded as of March 24th will receive a dividend of $0.052. Currently, Intevac's dividend payout ratio stands at -60.61%.

Institutional Investors Show Interest in Intevac

Interest from institutional investors has been evident, as many have bought and sold shares of Intevac recently. For example, Connor Clark & Lunn Investment Management Ltd. increased its holdings in Intevac by 9.8% during the third quarter, now owning 112,336 shares worth $382,000 after acquiring an additional 10,013 shares. Geode Capital Management LLC raised its position by 2.9%, now holding 287,163 shares valued at $977,000 following the purchase of an additional 8,063 shares in the previous quarter. Additionally, XTX Topco Ltd. bought a new position valued at about $49,000 during the third quarter. Marquette Asset Management LLC boosted its holdings by 29.0% in the fourth quarter, bringing their total to 66,273 shares valued at $225,000 after an additional purchase of 14,888 shares. Finally, Peapod Lane Capital LLC acquired a new stake valued at approximately $1,562,000 in the same quarter. Currently, institutional investors hold 60.27% of Intevac's stock.

About Intevac

Intevac, Inc. and its subsidiaries focus on designing, developing, and manufacturing thin-film processing systems across the United States, Europe, and Asia. They provide vacuum process equipment solutions tailored for the production of small substrates with specific thin-film characteristics, catering to markets including hard disk drives and advanced coatings.

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This article provides a summary of Intevac, Inc.'s short interest changes along with recent stock performance and other related company news.

Considerations for Investors

Before considering an investment in Intevac, it is advisable to conduct thorough research and consult with financial advisors on the potential risks and rewards involved.

Intevac, Stocks, Investing