NVE (NASDAQ:NVEC) Raised to Hold at BidaskClub

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BidaskClub upgraded shares of NVE (NASDAQ:NVEC) from a sell rating to a hold rating in a report issued on Thursday, BidAskClub reports.

Shares of NASDAQ NVEC opened at $70.60 on Thursday. The stock has a fifty day simple moving average of $71.96 and a two-hundred day simple moving average of $67.58. NVE has a 1-year low of $60.98 and a 1-year high of $104.30. The firm has a market cap of $342.13 million, a price-to-earnings ratio of 24.43 and a beta of 1.37.

NVE (NASDAQ:NVEC) last announced its quarterly earnings data on Wednesday, January 22nd. The semiconductor company reported $0.77 earnings per share for the quarter. NVE had a return on equity of 17.18% and a net margin of 57.13%. The business had revenue of $6.47 million during the quarter.

The company also recently disclosed a quarterly dividend, which will be paid on Friday, February 28th. Shareholders of record on Monday, February 3rd will be issued a dividend of $1.00 per share. This represents a $4.00 annualized dividend and a yield of 5.67%. The ex-dividend date of this dividend is Friday, January 31st.

In other NVE news, CFO Curt A. Reynders sold 1,429 shares of the stock in a transaction on Friday, February 14th. The stock was sold at an average price of $75.67, for a total transaction of $108,132.43. Following the completion of the transaction, the chief financial officer now directly owns 2,871 shares of the company’s stock, valued at $217,248.57. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CFO Curt A. Reynders sold 1,200 shares of the stock in a transaction on Wednesday, February 5th. The shares were sold at an average price of $74.51, for a total value of $89,412.00. Following the transaction, the chief financial officer now directly owns 4,300 shares of the company’s stock, valued at $320,393. The disclosure for this sale can be found here. Over the last three months, insiders have sold 4,629 shares of company stock valued at $342,004. 2.30% of the stock is owned by corporate insiders.

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Morgan Stanley boosted its holdings in shares of NVE by 53.7% in the second quarter. Morgan Stanley now owns 3,471 shares of the semiconductor company’s stock worth $242,000 after acquiring an additional 1,213 shares during the period. Bridge City Capital LLC boosted its holdings in shares of NVE by 27.5% in the third quarter. Bridge City Capital LLC now owns 15,256 shares of the semiconductor company’s stock worth $1,012,000 after acquiring an additional 3,289 shares during the period. Connors Investor Services Inc. boosted its holdings in shares of NVE by 41.2% in the third quarter. Connors Investor Services Inc. now owns 5,423 shares of the semiconductor company’s stock worth $360,000 after acquiring an additional 1,582 shares during the period. California Public Employees Retirement System boosted its holdings in shares of NVE by 12.9% in the third quarter. California Public Employees Retirement System now owns 14,681 shares of the semiconductor company’s stock worth $974,000 after acquiring an additional 1,682 shares during the period. Finally, Russell Investments Group Ltd. bought a new stake in NVE during the third quarter valued at $4,901,000. 70.49% of the stock is owned by institutional investors and hedge funds.

NVE Company Profile

NVE Corporation develops and sells devices that use spintronics, a nanotechnology that utilizes electron spin to acquire, store, and transmit information. The company manufactures spintronic products, including sensors and couplers for use in acquiring and transmitting data. Its products comprise standard sensors to detect the presence of a magnetic or metallic material to determine position or speed primarily for the factory automation market; and custom and medical sensors for medical devices to replace electromechanical magnetic switches.

Read More: What is Cost of Goods Sold (COGS)?

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