Wall Street Zen upgraded shares of NVE (NASDAQ:NVEC – Free Report) from a hold rating to a buy rating in a research report released on Sunday morning.
Separately, Weiss Ratings raised NVE from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Thursday, July 23rd. One research analyst has rated the stock with a Buy rating, According to MarketBeat, the company currently has an average rating of “Buy”.
Read Our Latest Research Report on NVE
NVE Price Performance
NVE (NASDAQ:NVEC – Get Free Report) 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 business had revenue of $11.03 million during the quarter.
NVE Announces Dividend
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, August 31st. Shareholders of record on Monday, August 3rd will be paid a $1.00 dividend. This represents a $4.00 dividend on an annualized basis and a dividend yield of 3.6%. The ex-dividend date of this dividend is Monday, August 3rd. NVE’s dividend payout ratio (DPR) is 107.53%.
Insider Activity
In other news, CEO Daniel A. Baker sold 15,222 shares of NVE stock in a transaction dated Wednesday, July 29th. The shares were sold at an average price of $114.08, for a total transaction of $1,736,525.76. Following the completion of the transaction, the chief executive officer directly owned 46,303 shares in the company, valued at $5,282,246.24. This trade represents a 24.74% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders have sold 21,500 shares of company stock worth $2,480,510 in the last ninety days. 2.10% of the stock is owned by company insiders.
Institutional Investors Weigh In On NVE
A number of institutional investors and hedge funds have recently made changes to their positions in NVEC. Ranger Investment Management L.P. bought a new position in NVE in the 2nd quarter valued at about $12,686,000. Handelsbanken Fonder AB increased its holdings in NVE by 62.8% during the 4th quarter. Handelsbanken Fonder AB now owns 102,592 shares of the semiconductor company’s stock worth $6,087,000 after purchasing an additional 39,565 shares in the last quarter. Bank of New York Mellon Corp purchased a new stake in shares of NVE in the second quarter worth approximately $4,879,000. State of Tennessee Department of Treasury raised its stake in shares of NVE by 137.4% in the second quarter. State of Tennessee Department of Treasury now owns 6,596 shares of the semiconductor company’s stock worth $486,000 after purchasing an additional 3,818 shares during the last quarter. Finally, Jane Street Group LLC bought a new position in shares of NVE in the first quarter valued at approximately $351,000. Institutional investors and hedge funds own 65.95% of the company’s stock.
About NVE
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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