Royce & Associates LP Boosts Position in Intevac, Inc. (IVAC)
Royce & Associates LP increased its holdings in shares of Intevac, Inc. (NASDAQ:IVAC) by 13.8% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,866,830 shares of the electronics maker’s stock after acquiring an additional 226,089 shares during the period. Royce & Associates LP owned approximately 0.08% of Intevac worth $9,708,000 at the end of the most recent reporting period.
Other large investors have also bought and sold shares of the company. Dimensional Fund Advisors LP boosted its stake in Intevac by 24.5% during the second quarter. Dimensional Fund Advisors LP now owns 1,231,623 shares of the electronics maker’s stock worth $5,973,000 after acquiring an additional 242,655 shares in the last quarter. Paloma Partners Management Co bought a new position in shares of Intevac in the second quarter worth approximately $472,000. Schneider Capital Management Corp lifted its stake in shares of Intevac by 4.1% in the third quarter. Schneider Capital Management Corp now owns 454,935 shares of the electronics maker’s stock worth $2,366,000 after buying an additional 17,830 shares in the last quarter. Millennium Management LLC bought a new position in shares of Intevac in the second quarter worth approximately $728,000. Finally, Ancora Advisors LLC lifted its stake in shares of Intevac by 20.5% in the third quarter. Ancora Advisors LLC now owns 251,997 shares of the electronics maker’s stock worth $1,310,000 after buying an additional 42,939 shares in the last quarter. 59.47% of the stock is currently owned by institutional investors and hedge funds.
Shares of NASDAQ IVAC opened at $4.60 on Friday. The company has a market capitalization of $105.40 million, a PE ratio of 27.03 and a beta of 0.92. Intevac, Inc. has a 52-week low of $4.21 and a 52-week high of $7.55.
Intevac declared that its board has authorized a stock repurchase plan on Monday, August 20th that authorizes the company to buyback $10.00 million in shares. This buyback authorization authorizes the electronics maker to repurchase up to 8.8% of its shares through open market purchases. Shares buyback plans are typically a sign that the company’s leadership believes its shares are undervalued.
In other news, CEO Wendell Thomas Blonigan bought 10,000 shares of the company’s stock in a transaction dated Monday, December 3rd. The shares were purchased at an average price of $4.75 per share, for a total transaction of $47,500.00. Following the completion of the purchase, the chief executive officer now owns 247,503 shares in the company, valued at approximately $1,175,639.25. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Corporate insiders own 13.90% of the company’s stock.
Several brokerages have recently issued reports on IVAC. Zacks Investment Research downgraded shares of Intevac from a “buy” rating to a “hold” rating in a research note on Thursday, October 18th. Maxim Group reiterated a “hold” rating on shares of Intevac in a research note on Tuesday, October 30th. Finally, ValuEngine downgraded shares of Intevac from a “hold” rating to a “sell” rating in a research note on Saturday, August 18th. Four investment analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. The company currently has a consensus rating of “Hold” and an average target price of $5.63.
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Intevac Company Profile
Intevac, Inc provides vacuum deposition equipment for various thin-film applications, and digital night-vision technologies and products to the defense industry in the United States, Asia, Europe, and internationally. It operates in two segments, Thin-Film Equipment and Photonics. The Thin-film Equipment segment designs, manufactures, markets, and services disk sputtering, etch and deposition, and disk lubrication systems; and offers upgrades, spares, and consumables, as well as provides process and applications support, customer training, installation, start-up assistance, and post-installation support services.
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