Intevac, Inc. (NASDAQ:IVAC) Short Interest Declines Significantly in February

Intevac, Inc. (NASDAQ:IVAC) experienced a notable decline in short interest during February. As of February 28, the total short interest stood at 97,500 shares, marking a significant drop of 16.7% compared to the earlier total of 117,100 shares recorded on February 13. This figure represents approximately 0.4% of the company's total shares being short sold. With an average daily trading volume of 332,500 shares, the current short-interest ratio is 0.3 days.

Analysts Set New Price Targets

In a separate development, StockNews.com commenced coverage on Intevac shares on March 13 and assigned a "sell" rating to the stock.

Get Our Latest Stock Report on Intevac

Intevac Stock Moves Slightly Upwards

The stock of Intevac traded up by 0.2%, gaining $0.01 to reach $4.04 on Tuesday. A total of 270,805 shares changed hands, which is higher than the average trading volume of 154,024 shares. Intevac has recorded a fifty-two week low of $2.46 alongside a high of $4.42 during the same period. The company's market capitalization stands at $109.76 million, with a negative P/E ratio of -12.24 and a beta of 0.62. Presently, its 50-day moving average is at $3.73, and the 200-day moving average is $3.41.

Intevac Declares Special Dividend

Intevac recently announced a special dividend, set to be paid on March 28. Shareholders who are on record as of March 24 will receive a dividend of $0.052. Currently, the company's dividend payout ratio is at -60.61%.

Institutional Investors' Activity in Intevac

Recent activity from institutional investors shows that several have either bought or sold shares of Intevac. Connor Clark & Lunn Investment Management Ltd. increased its stake in Intevac by 9.8% in the third quarter, bringing its ownership to 112,336 shares valued at approximately $382,000 after acquiring an additional 10,013 shares. Similarly, Geode Capital Management LLC raised its position by 2.9% during the same quarter, now holding 287,163 shares valued at around $977,000 after purchasing 8,063 more shares. XTX Topco Ltd established a new position in Intevac during the third quarter valued at close to $49,000. Furthermore, Marquette Asset Management LLC enhanced its holdings by 29.0% in the fourth quarter, now owning 66,273 shares worth $225,000 after adding 14,888 shares. Finally, Peapod Lane Capital LLC bought a new stake valued at about $1,562,000 in Intevac during the same quarter. Institutional investors collectively own 60.27% of the company's stock.

About Intevac

Intevac, Inc., along with its subsidiaries, specializes in designing, developing, and manufacturing thin-film processing systems across the United States, Europe, and Asia. The company focuses on creating vacuum process equipment solutions intended for the production of small substrates with precise thin-film characteristics, catering to industries such as hard disk drives, advanced coatings, and other related thin-film markets.

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