Intevac, Inc. (NASDAQ:IVAC) Sees Significant Reduction in Short Interest

Intevac, Inc. (NASDAQ:IVAC) experienced a notable decline in short interest throughout February. As of February 28th, the total short interest was reported at 97,500 shares, reflecting a reduction of 16.7% from the previous total of 117,100 shares recorded on February 13th. This indicates that around 0.4% of the company’s stock is currently being short-sold. With an average daily trading volume of 332,500 shares, the current short-interest ratio stands at 0.3 days.

Analysts Update Price Targets

In a separate note, StockNews.com began coverage of Intevac's shares in a report released on March 13th. They have assigned a "sell" rating to the stock, reflecting a cautious outlook from some market analysts.

Intevac Stock Performance

Intevac's stock saw a slight increase of 0.2%, closing at $4.04 during trading on Tuesday. The day saw a total of 270,805 shares changing hands, a significant figure compared to its average trading volume of 154,024 shares. Over the past year, Intevac has reached a low of $2.46 and a high of $4.42. The stock has a market capitalization of approximately $109.76 million, with a price-to-earnings (P/E) ratio of -12.24 and a beta value of 0.62. The company’s 50-day moving average sits at $3.73, while the 200-day moving average is at $3.41.

Upcoming Dividend Announcement

Recently, Intevac announced a special dividend set to be distributed on March 28th. Shareholders who are on record by March 24th will receive a dividend of $0.052 per share. Currently, Intevac's dividend payout ratio stands at -60.61%, indicating a unique financial situation regarding its dividend payments.

Changes in Institutional Ownership

Recent activity among institutional investors also reflects interest in Intevac. Connor Clark & Lunn Investment Management Ltd. increased its ownership in the company by 9.8% during the third quarter, bringing its total to 112,336 shares valued at approximately $382,000 after obtaining an additional 10,013 shares. Similarly, Geode Capital Management LLC raised its stake by 2.9% in the same quarter, now holding 287,163 shares worth about $977,000 after acquiring an additional 8,063 shares. Other institutional transactions include XTX Topco Ltd purchasing new shares valued at around $49,000 and Marquette Asset Management LLC boosting its holdings by 29.0%, adding 14,888 shares to reach a total of 66,273 shares valued at $225,000. It's important to note that institutional investors collectively own 60.27% of Intevac's stock.

About Intevac

Intevac, Inc., alongside its subsidiaries, is engaged in the design, development, and manufacturing of thin-film processing systems across the United States, Europe, and Asia. The company specializes in producing vacuum process equipment solutions aimed at creating small substrates with precise thin-film properties, including applications in hard disk drives, advanced coatings, and other related thin-film markets.

Intevac, Investors, Stocks