NVE (NASDAQ:NVEC) Posts Earnings Results

NVE (NASDAQ:NVEC) posted its quarterly earnings results on Wednesday. The semiconductor company reported $0.70 earnings per share for the quarter, Zacks reports. NVE had a net margin of 55.79% and a return on equity of 22.48%.

NVE Stock Performance

NASDAQ NVEC traded up $0.20 during trading hours on Wednesday, hitting $68.45. The company had a trading volume of 46,388 shares, compared to its average volume of 45,222. The company has a market cap of $331.30 million, a PE ratio of 24.02 and a beta of 1.24. NVE has a 1-year low of $51.50 and a 1-year high of $84.64. The business has a 50 day moving average of $64.51 and a 200-day moving average of $66.79.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings reissued a “hold (c)” rating on shares of NVE in a research report on Monday, December 29th. One research analyst has rated the stock with a Hold rating, According to MarketBeat, the company presently has an average rating of “Hold”.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in NVE by 5.7% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 2,873 shares of the semiconductor company’s stock valued at $183,000 after purchasing an additional 156 shares during the last quarter. Jane Street Group LLC purchased a new stake in shares of NVE in the 1st quarter worth about $351,000. Finally, State of Tennessee Department of Treasury grew its stake in 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 acquiring an additional 3,818 shares during the last quarter. 65.95% of the stock is currently owned by institutional investors and hedge funds.

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.