NVE (NASDAQ:NVEC) Stock Price Down 5.1% – Here’s What Happened

NVE Corporation (NASDAQ:NVEC) fell 5.1% on Tuesday . The company traded as low as $111.55 and last traded at $110.9250. 8,264 shares changed hands during mid-day trading, a decline of 91% from the average session volume of 88,747 shares. The stock had previously closed at $116.92.

Wall Street Analyst Weigh In

Separately, Weiss Ratings upgraded shares of NVE from a “hold (c)” rating to a “hold (c+)” rating in a report on Monday, June 8th. One investment analyst has rated the stock with a Hold rating, According to MarketBeat.com, the company has a consensus rating of “Hold”.

NVE Trading Down 5.7%

The stock has a market capitalization of $492.57 million, a PE ratio of 32.41 and a beta of 1.40. The firm has a 50 day moving average price of $91.05 and a 200 day moving average price of $75.52.

NVE (NASDAQ:NVEC) last posted its quarterly earnings data on Wednesday, May 6th. The semiconductor company reported $1.02 EPS for the quarter. The firm had revenue of $7.65 million during the quarter. NVE had a return on equity of 25.62% and a net margin of 57.72%.

NVE Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, May 29th. Stockholders of record on Monday, May 18th were paid a $1.00 dividend. This represents a $4.00 annualized dividend and a dividend yield of 3.9%. The ex-dividend date was Monday, May 18th. NVE’s dividend payout ratio is 127.39%.

Institutional Investors Weigh In On NVE

Several hedge funds and other institutional investors have recently modified their holdings of NVEC. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in shares of NVE by 5.7% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 2,873 shares of the semiconductor company’s stock worth $183,000 after purchasing an additional 156 shares in the last quarter. Jane Street Group LLC purchased a new stake in shares of NVE in the 1st quarter worth $351,000. State of Tennessee Department of Treasury increased its stake in shares of NVE by 137.4% in the 2nd quarter. State of Tennessee Department of Treasury now owns 6,596 shares of the semiconductor company’s stock worth $486,000 after purchasing an additional 3,818 shares in the last quarter. Isthmus Partners LLC increased its stake in shares of NVE by 16.4% in the 3rd quarter. Isthmus Partners LLC now owns 50,998 shares of the semiconductor company’s stock worth $3,329,000 after purchasing an additional 7,186 shares in the last quarter. Finally, Handelsbanken Fonder AB increased its stake in shares of NVE by 2,103.7% in the 3rd quarter. Handelsbanken Fonder AB now owns 63,027 shares of the semiconductor company’s stock worth $4,114,000 after purchasing an additional 60,167 shares in the last quarter. 65.95% of the stock is currently owned by hedge funds and other institutional investors.

NVE Company Profile

NVE Corporation (NASDAQ:NVEC) is a technology company specializing in the development, manufacturing, and marketing of spintronic products. The company’s core expertise lies in magnetoresistive sensing and magnetic-field-based digital isolation, leveraging patented spin-valve and tunneling magnetoresistance technologies to deliver high-performance, low-power solutions.

NVE’s product portfolio includes magnetic sensors for current, position, and angle sensing applications, as well as micro-isolators and digital isolators that provide galvanic isolation in industrial, automotive, medical, instrumentation, and consumer electronics systems.