NVE (NASDAQ:NVEC) Cut to Hold at Wall Street Zen

Wall Street Zen cut shares of NVE (NASDAQ:NVEC) from a buy rating to a hold rating in a research note published on Saturday morning.

Separately, Weiss Ratings upgraded shares of NVE from a “hold (c+)” rating to a “buy (b-)” rating in a report on Thursday, July 23rd. One research analyst has rated the stock with a Buy rating, Based on data from MarketBeat.com, the company currently has a consensus rating of “Buy”.

NVE Stock Down 0.1%

NVE stock opened at $121.09 on Friday. NVE has a 12-month low of $57.21 and a 12-month high of $135.00. The firm’s fifty day moving average is $106.47 and its 200 day moving average is $87.45. The company has a market capitalization of $586.08 million, a PE ratio of 32.55 and a beta of 1.37.

NVE (NASDAQ:NVEC) last issued its earnings results on Wednesday, July 22nd. The semiconductor company reported $1.32 earnings per share (EPS) for the quarter. The business had revenue of $11.03 million for the quarter. NVE had a net margin of 57.64% and a return on equity of 30.53%.

NVE Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, August 31st. Stockholders of record on Monday, August 3rd will be issued a dividend of $1.00 per share. The ex-dividend date is Monday, August 3rd. This represents a $4.00 annualized dividend and a dividend yield of 3.3%. NVE’s payout ratio is currently 107.53%.

Insider Buying and Selling at NVE

In related news, CEO Daniel A. Baker sold 15,222 shares of the stock in a transaction on Wednesday, July 29th. The stock was sold at an average price of $114.08, for a total value of $1,736,525.76. Following the transaction, the chief executive officer directly owned 46,303 shares in the company, valued at $5,282,246.24. This trade represents a 24.74% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Insiders sold 20,000 shares of company stock worth $2,298,260 over the last quarter. 2.10% of the stock is owned by corporate insiders.

Institutional Trading of NVE

Several hedge funds have recently bought and sold shares of the business. Ranger Investment Management L.P. acquired a new position in NVE during the second quarter worth $12,686,000. Handelsbanken Fonder AB grew its holdings in shares of NVE by 62.8% during the fourth quarter. Handelsbanken Fonder AB now owns 102,592 shares of the semiconductor company’s stock valued at $6,087,000 after buying an additional 39,565 shares during the last quarter. Bank of New York Mellon Corp acquired a new position in shares of NVE during the second quarter valued at about $4,879,000. State of Tennessee Department of Treasury grew its holdings in shares of NVE by 137.4% during the second quarter. State of Tennessee Department of Treasury now owns 6,596 shares of the semiconductor company’s stock valued at $486,000 after buying an additional 3,818 shares during the last quarter. Finally, Jane Street Group LLC bought a new stake in shares of NVE during the first quarter worth about $351,000. Institutional investors and hedge funds own 65.95% of the company’s stock.

About NVE

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.