King Luther Capital Management Corp Sells 5,321 Shares of Intevac, Inc. (NASDAQ:IVAC)

King Luther Capital Management Corp decreased its holdings in Intevac, Inc. (NASDAQ:IVAC) by 2.8% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 185,000 shares of the electronics maker’s stock after selling 5,321 shares during the period. King Luther Capital Management Corp owned about 0.69% of Intevac worth $629,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Connor Clark & Lunn Investment Management Ltd. raised its stake in 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 valued at $382,000 after buying an additional 10,013 shares during the last quarter. Royce & Associates LP boosted its position in Intevac by 1.2% in the third quarter. Royce & Associates LP now owns 3,545,897 shares of the electronics maker’s stock worth $12,056,000 after purchasing an additional 43,052 shares during the last quarter. Point72 Asia Singapore Pte. Ltd. bought a new stake in shares of Intevac during the 2nd quarter valued at about $144,000. Squarepoint Ops LLC increased its holdings in Intevac by 24.7% during the second quarter. Squarepoint Ops LLC now owns 66,317 shares of the electronics maker’s stock valued at $256,000 after buying an additional 13,144 shares during the last quarter. Finally, Renaissance Technologies LLC grew its position 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 valued at $2,124,000 after acquiring an additional 36,600 shares during the period. 60.27% of the stock is owned by institutional investors.

Intevac Stock Up 1.1 %

Shares of NASDAQ:IVAC opened at $2.68 on Friday. The firm has a fifty day simple moving average of $3.25 and a two-hundred day simple moving average of $3.61. Intevac, Inc. has a 52 week low of $2.46 and a 52 week high of $4.57. The stock has a market capitalization of $72.28 million, a P/E ratio of -8.12 and a beta of 0.79.

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

Analyst Ratings Changes

A number of research firms have recently weighed in on IVAC. Benchmark reaffirmed a “hold” rating on shares of Intevac in a research report on Tuesday, November 12th. StockNews.com assumed coverage on shares of Intevac in a research report on Friday. They set a “hold” rating on the 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.