NVE (NASDAQ:NVEC) Trading Down 6.2% Following Insider Selling

NVE Corporation (NASDAQ:NVEC) dropped 6.2% during mid-day trading on Wednesday following insider selling activity. The stock traded as low as $105.01 and last traded at $107.7030. 27,665 shares were traded during mid-day trading, a decline of 79% from the average session volume of 134,130 shares. The stock had previously closed at $114.78.

Specifically, Director Daniel A. Baker sold 1,500 shares of the business’s stock in a transaction dated Monday, August 17th. The stock was sold at an average price of $121.50, for a total value of $182,250.00. Following the completion of the transaction, the director owned 44,803 shares of the company’s stock, valued at $5,443,564.50. The trade was a 3.24% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on NVEC shares. Wall Street Zen downgraded shares of NVE from a “buy” rating to a “hold” rating in a research note on Saturday, August 15th. Weiss Ratings upgraded shares of NVE from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Thursday, July 23rd. One analyst has rated the stock with a Buy rating, According to MarketBeat.com, the stock presently has a consensus rating of “Buy”.

NVE Trading Down 1.1%

The firm has a 50-day moving average of $106.72 and a two-hundred day moving average of $88.33. The firm has a market capitalization of $532.88 million, a P/E ratio of 29.60 and a beta of 1.37.

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

NVE Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, August 31st. Investors of record on Monday, August 3rd will be given a dividend of $1.00 per share. The ex-dividend date is Monday, August 3rd. This represents a $4.00 dividend on an annualized basis and a yield of 3.6%. NVE’s payout ratio is currently 107.53%.

Institutional Trading of NVE

Several hedge funds and other institutional investors have recently made changes to their positions in NVEC. Ranger Investment Management L.P. acquired a new position in NVE in the 2nd quarter valued at approximately $12,686,000. Handelsbanken Fonder AB increased its position in NVE by 62.8% during the 4th quarter. Handelsbanken Fonder AB now owns 102,592 shares of the semiconductor company’s stock valued at $6,087,000 after purchasing an additional 39,565 shares during the period. Bank of New York Mellon Corp bought a new position in NVE during the 2nd quarter worth approximately $4,879,000. State of Tennessee Department of Treasury boosted 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 valued at $486,000 after purchasing an additional 3,818 shares during the last quarter. Finally, Jane Street Group LLC bought a new position in NVE during the first quarter worth $351,000. 65.95% of the stock is currently owned by 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.