Zacks Investment Research upgraded shares of NVE Corporation (NASDAQ:NVEC) from a sell rating to a hold rating in a research note published on Wednesday, July 12th.
According to Zacks, “NVE Corp. is a recognized leader in the practical commercialization of spintronics, which many experts believe represents the next generation of microelectronics. NVE’s products include magnetic sensors and couplers which revolutionize data acquisition and transfer. “
NVE Corporation (NASDAQ NVEC) opened at 74.21 on Wednesday. The stock’s 50 day moving average is $78.45 and its 200 day moving average is $79.15. The stock has a market capitalization of $359.25 million, a PE ratio of 27.38 and a beta of 1.21. NVE Corporation has a 12-month low of $55.00 and a 12-month high of $88.34.
NVE Corporation (NASDAQ:NVEC) last issued its quarterly earnings data on Wednesday, July 19th. The semiconductor company reported $0.68 EPS for the quarter, topping analysts’ consensus estimates of $0.66 by $0.02. The business had revenue of $7.61 million for the quarter. NVE Corporation had a net margin of 44.87% and a return on equity of 14.02%. Equities analysts anticipate that NVE Corporation will post $2.72 EPS for the current fiscal year.
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The company also recently disclosed a quarterly dividend, which will be paid on Thursday, August 31st. Stockholders of record on Monday, July 31st will be paid a dividend of $1.00 per share. The ex-dividend date of this dividend is Thursday, July 27th. This represents a $4.00 dividend on an annualized basis and a dividend yield of 5.39%. NVE Corporation’s payout ratio is 148.15%.
In other NVE Corporation news, Director Terrence Glarner sold 1,000 shares of NVE Corporation stock in a transaction on Monday, May 22nd. The shares were sold at an average price of $79.04, for a total transaction of $79,040.00. Following the sale, the director now owns 2,200 shares of the company’s stock, valued at approximately $173,888. The sale was disclosed in a filing with the SEC, which is available at the SEC website. 2.30% of the stock is currently owned by company insiders.
A number of large investors have recently made changes to their positions in the company. Hillsdale Investment Management Inc. acquired a new stake in shares of NVE Corporation during the first quarter valued at about $248,000. Keybank National Association OH raised its position in NVE Corporation by 18.3% in the first quarter. Keybank National Association OH now owns 4,366 shares of the semiconductor company’s stock valued at $361,000 after buying an additional 675 shares in the last quarter. Kayne Anderson Rudnick Investment Management LLC raised its position in NVE Corporation by 9.7% in the first quarter. Kayne Anderson Rudnick Investment Management LLC now owns 608,599 shares of the semiconductor company’s stock valued at $50,386,000 after buying an additional 53,964 shares in the last quarter. Virginia Retirement Systems ET AL bought a new position in NVE Corporation during the first quarter valued at approximately $232,000. Finally, Parametric Portfolio Associates LLC bought a new position in NVE Corporation during the first quarter valued at approximately $305,000. 71.85% of the stock is currently owned by institutional investors.
About NVE Corporation
NVE Corporation develops and sells devices that use spintronics, a nanotechnology that relies on electron spin to acquire, store and transmit information. The Company manufactures spintronic products, including sensors and couplers that are used to acquire and transmit data. The Company has also licensed its spintronic magnetoresistive random access memory technology (MRAM).
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