NVE Corporation (NASDAQ:NVEC – Get Free Report) fell 5.1% during trading on Tuesday . The stock traded as low as $111.55 and last traded at $110.9250. 8,264 shares traded hands during mid-day trading, a decline of 91% from the average session volume of 88,747 shares. The stock had previously closed at $116.92.
Wall Street Analysts Forecast Growth
Separately, Weiss Ratings raised NVE from a “hold (c)” rating to a “hold (c+)” rating in a research note on Monday, June 8th. One investment analyst has rated the stock with a Hold rating, Based on data from MarketBeat, NVE currently has a consensus rating of “Hold”.
NVE Trading Down 4.8%
NVE (NASDAQ:NVEC – Get Free Report) last posted its earnings results on Wednesday, May 6th. The semiconductor company reported $1.02 earnings per share for the quarter. NVE had a return on equity of 25.62% and a net margin of 57.72%.The firm had revenue of $7.65 million during the quarter.
NVE Dividend Announcement
The business also recently announced a quarterly dividend, which was paid on Friday, May 29th. Investors of record on Monday, May 18th were issued a $1.00 dividend. This represents a $4.00 annualized dividend and a yield of 3.7%. The ex-dividend date was Monday, May 18th. NVE’s payout ratio is 127.39%.
Institutional Investors Weigh In On NVE
A number of hedge funds have recently bought and sold shares of NVEC. McMillan Office Inc. bought a new stake in NVE during the fourth quarter valued at about $30,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in NVE by 5.7% during the 1st 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 period. SG Americas Securities LLC boosted its stake in NVE by 78.9% during the 4th quarter. SG Americas Securities LLC now owns 3,930 shares of the semiconductor company’s stock valued at $233,000 after purchasing an additional 1,733 shares during the period. Jane Street Group LLC bought a new stake in NVE during the 1st quarter valued at approximately $351,000. Finally, State of Tennessee Department of Treasury boosted its stake in NVE by 137.4% during 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 period. 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.
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