NVE (NASDAQ:NVEC) Posts Quarterly Earnings Results

NVE (NASDAQ:NVEC) posted its quarterly earnings results on Wednesday. The semiconductor company reported $0.65 EPS for the quarter, FiscalAI reports. The company had revenue of $5.58 million during the quarter. NVE had a net margin of 57.64% and a return on equity of 30.53%.

NVE Stock Up 1.0%

Shares of NASDAQ:NVEC traded up $1.02 during trading on Wednesday, hitting $103.07. The stock had a trading volume of 114,241 shares, compared to its average volume of 128,181. The company has a market capitalization of $498.55 million, a PE ratio of 27.71 and a beta of 1.34. The firm’s fifty day moving average is $106.64 and its 200 day moving average is $99.80. NVE has a 12 month low of $57.21 and a 12 month high of $135.00.

Insider Buying and Selling at NVE

In other NVE news, Director Daniel Baker sold 21,140 shares of the firm’s stock in a transaction on Tuesday, September 8th. The stock was sold at an average price of $101.49, for a total transaction of $2,145,498.60. Following the completion of the transaction, the director owned 17,932 shares of the company’s stock, valued at approximately $1,819,918.68. This trade represents a 54.11% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Insiders sold 48,371 shares of company stock worth $5,249,226 in the last 90 days. Insiders own 2.10% of the company’s stock.

Institutional Trading of NVE

Hedge funds and other institutional investors have recently modified their holdings of the business. GAMMA Investing LLC grew its holdings in NVE by 55.3% in the third quarter. GAMMA Investing LLC now owns 340 shares of the semiconductor company’s stock worth $37,000 after purchasing an additional 121 shares during the period. State of Alaska Department of Revenue increased its stake in shares of NVE by 27.0% during the third quarter. State of Alaska Department of Revenue now owns 1,039 shares of the semiconductor company’s stock valued at $114,000 after purchasing an additional 221 shares in the last quarter. Odyssean LLC bought a new position in shares of NVE during the second quarter valued at approximately $248,000. WINTON GROUP Ltd purchased a new position in shares of NVE during the second quarter valued at approximately $497,000. Finally, Bank of New York Mellon Corp purchased a new position in shares of NVE during the second quarter valued at approximately $4,879,000. 65.95% of the stock is owned by hedge funds and other institutional investors.

Key NVE News

Here are the key news stories impacting NVE this week:

• Positive Sentiment: The stock recently broke above its 200-day moving average, a technical signal that may attract momentum-oriented investors and suggests improving market sentiment. NVE Stock Price Breaks Above 200-Day Moving Average
• Neutral Sentiment: NVE scheduled its October 21 results, making the earnings announcement the key focus for investors. The company’s previous reported quarter included $11.03 million in revenue and $1.32 in earnings per share, but the current results will determine whether that performance was sustained. NVE Schedules October 21 Results
• Neutral Sentiment: Investors are also monitoring NVE’s cash-flow profile ahead of the results, particularly because the company has a relatively small market capitalization and limited trading volume, which can amplify moves around earnings. NVE Corporation Cash Flow

Analyst Ratings Changes

Several research firms recently issued reports on NVEC. Weiss Ratings raised NVE from a “buy (b-)” rating to a “buy (b)” rating in a research note on Thursday, October 8th. Wall Street Zen lowered shares of NVE from a “buy” rating to a “hold” rating in a research note on Saturday, September 12th. One research analyst has rated the stock with a Buy rating. According to MarketBeat, the stock has an average rating of “Buy”.

NVE Company Profile

NVE Corporation (NASDAQ: NVEC) develops and manufactures spintronic devices that use electron-spin properties to acquire, transmit, and store data. The company’s technology is designed to provide high sensitivity, low power consumption, and electrical isolation in applications that require the transfer or detection of digital signals.

Its product portfolio includes magnetic sensors, digital isolators, and couplers. These components are used in industrial equipment, factory automation, medical devices, energy systems, transportation, and other applications that require sensing, signal isolation, or communication between electrically separated circuits.