The share price of Intevac Inc. (NASDAQ: IVAC) rose by $1.72 or 31.68% Wednesday on volume of 4.83 million shares to a closing price of $7.15 on the day. The share price of Intevac has increased by 28.37% on a weekly basis which achieves a total gain of 75% year-over-year.
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There are currently 23.86 million shares of IVAC stock owned by the public, with 22.07 million shares available to trade. An order related to the advanced semiconductor packaging market led to an increase in IVAC stock price.
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The order was for what?
Thin-film equipment and photonics make up Intevac’s businesses which were founded in 1991. IVAC is a leader in developing and designing high-productivity thin-film processing systems for its Thin-film Equipment business. IVAC manufactures a wide variety of substrates; including hard disk media, display cover panels, and solar photovoltaic panels.
During the last decade, IVAC has been a leading developer of advanced high-sensitivity digital sensors, cameras, and systems used primarily for defense applications in its Photonics business. A number of U.S. military programs rely on digital imaging systems offered by IVAC.
INTEVAC yesterday announced a fan-out polymerization order for advanced semiconductor packaging applications on the INTEVAC MATRIX PVD platform.
The system will be delivered in the first quarter of 2021 after the fan-out evaluation program with a leading outsourced assembly and test IVAC has completed this month. A wide range of thin-film packaging applications can be manufactured on the INTEVAC MATRIX.
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How IVAC achieved it?
It is important validation that the MATRIX PVD fan-out wafer- and panel-level system by Intevac (IVAC) meets the requirements of the next-generation advanced semiconductor packaging market. It was done after IVAC completed the evaluation program, and subsequently being purchased and accepted by customers, as said Wendell Blonigan, President and CEO of Intevac.