Intevac, Inc. Sees Significant Decrease in Short Interest

Intevac, Inc. (NASDAQ:IVAC) experienced a notable reduction in short interest during February. As of February 28th, the total short interest was 97,500 shares, reflecting a decrease of 16.7% from the 117,100 shares reported on February 13th. This means that around 0.4% of the company's total shares are currently sold short. Given the average daily trading volume of 332,500 shares, the current short-interest ratio stands at just 0.3 days.

Analysts Set New Price Targets

In a related note, StockNews.com began coverage on Intevac's shares in a research report issued on March 13th. They have assigned a 'sell' rating for the stock, indicating their outlook on the company's performance.

Intevac Stock Performance

On Tuesday, IVAC's stock rose by 0.2%, increasing by $0.01 to reach $4.04 per share. A total of 270,805 shares were traded during the day, surpassing the average trading volume of 154,024. The stock has shown significant price variability, with a fifty-two week low of $2.46 and a high of $4.42. The company's market capitalization is currently $109.76 million, and it has a price-to-earnings (P/E) ratio of -12.24, along with a beta of 0.62. The stock's 50-day moving average is positioned at $3.73, while the 200-day moving average stands at $3.41.

Intevac Announces Dividend

Intevac has also announced a special dividend, which is set to be paid out on March 28th. Shareholders recorded as of March 24th will receive a dividend of $0.052. The company’s current dividend payout ratio is reported at -60.61%, indicating a need for careful financial assessment.

Institutional Investors Weigh In on Intevac

Recent activity from institutional investors shows increased trading in Intevac shares. Connor Clark & Lunn Investment Management Ltd. increased its stake by 9.8% during the third quarter, acquiring a total of 112,336 shares valued at around $382,000. Similarly, Geode Capital Management LLC raised its holdings by 2.9%, owning 287,163 shares amounting to approximately $977,000 after acquiring an additional 8,063 shares. Other investors such as XTX Topco Ltd. and Marquette Asset Management LLC also made moves to purchase or increase their stakes in Intevac. Currently, institutional investors hold about 60.27% of the company's shares.

About Intevac

Intevac, Inc. designs, develops, and manufactures thin-film processing systems utilized across various industries. The company offers vacuum process equipment solutions tailored for small substrates with specific thin-film properties, commonly found in hard disk drives, advanced coatings, and other related markets.

Intevac, Stock, Dividend