NVE (NVEC) Raised to “Hold” at BidaskClub

BidaskClub upgraded shares of NVE (NASDAQ:NVEC) from a sell rating to a hold rating in a report released on Saturday morning.

Separately, ValuEngine downgraded NVE from a buy rating to a hold rating in a research report on Monday, October 8th.

Shares of NVEC opened at $95.97 on Friday. NVE has a 52-week low of $68.50 and a 52-week high of $135.00. The firm has a market capitalization of $462.80 million, a price-to-earnings ratio of 29.22 and a beta of 1.29.

NVE (NASDAQ:NVEC) last issued its quarterly earnings data on Monday, October 15th. The semiconductor company reported $0.88 earnings per share (EPS) for the quarter. NVE had a return on equity of 18.42% and a net margin of 52.49%. The firm had revenue of $7.51 million during the quarter.

The firm also recently disclosed a quarterly dividend, which was paid on Friday, November 30th. Shareholders of record on Monday, October 29th were given a $1.00 dividend. The ex-dividend date of this dividend was Friday, October 26th. This represents a $4.00 annualized dividend and a yield of 4.17%.

In other NVE news, Director Patricia M. Hollister sold 2,000 shares of NVE stock in a transaction on Friday, November 16th. The stock was sold at an average price of $84.02, for a total value of $168,040.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Curt A. Reynders sold 2,075 shares of NVE stock in a transaction on Friday, November 30th. The shares were sold at an average price of $95.15, for a total value of $197,436.25. Following the completion of the transaction, the chief financial officer now owns 5,500 shares of the company’s stock, valued at approximately $523,325. The disclosure for this sale can be found here. Insiders own 2.40% of the company’s stock.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Cornerstone Wealth Management LLC acquired a new stake in shares of NVE in the 2nd quarter valued at $100,000. Sei Investments Co. acquired a new stake in shares of NVE in the 2nd quarter valued at $183,000. BB&T Corp acquired a new stake in shares of NVE in the 2nd quarter valued at $203,000. Nisa Investment Advisors LLC increased its stake in shares of NVE by 2,100.0% in the 2nd quarter. Nisa Investment Advisors LLC now owns 2,200 shares of the semiconductor company’s stock valued at $268,000 after buying an additional 2,100 shares during the period. Finally, MetLife Investment Advisors LLC increased its stake in shares of NVE by 44.0% in the 3rd quarter. MetLife Investment Advisors LLC now owns 3,752 shares of the semiconductor company’s stock valued at $397,000 after buying an additional 1,147 shares during the period. 75.71% of the stock is owned by institutional investors.

About NVE

NVE Corporation develops and sells devices that use spintronics, a nanotechnology that utilizes electron spin to acquire, store, and transmit information. The company manufactures spintronic products, including sensors and couplers for use in acquiring and transmitting data. Its products comprise standard sensors to detect the presence of a magnetic or metallic material to determine position or speed primarily for the factory automation market; and custom and medical sensors for medical devices to replace electromechanical magnetic switches.

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