Mon Sep 30 01:19:12 UTC 2024: ## Intevac’s Short Interest Drops, Institutional Investors Increase Holdings

**New York, NY -** Intevac, Inc. (NASDAQ: IVAC), a manufacturer of thin-film processing systems, saw a significant decline in short interest during September, according to data released by MarketBeat News. As of September 15th, the short interest totalled 146,200 shares, a 10% drop from the August 31st total of 162,500 shares.

This decrease in short interest suggests that investors are becoming more optimistic about the company’s future prospects. This sentiment is further supported by recent activity from several hedge funds, including BNP Paribas Financial Markets, Teton Advisors Inc., Gamco Investors INC. ET AL, Firsthand Capital Management Inc., and Gabelli Funds LLC, which have all increased their holdings in Intevac. Overall, institutional investors now own 60.27% of the company’s stock.

While StockNews.com upgraded Intevac from a “sell” rating to a “hold” rating on September 6th, the company’s share price remained flat at $3.43 during midday trading on Friday.

Intevac reported its quarterly earnings results on August 5th, exceeding analysts’ expectations by reporting ($0.12) earnings per share (EPS) for the quarter, compared to the estimated ($0.21). The company also generated $14.53 million in revenue during the quarter.

Despite the recent positive developments, Intevac faces challenges in the electronics manufacturing industry, which are reflected in its negative return on equity and net margin. However, the company’s focus on developing and manufacturing innovative thin-film processing systems for a variety of industries, including hard disk drives and advanced coatings, positions it for potential growth in the future.

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