NVE (NASDAQ:NVEC) Cut to “Hold” at Wall Street Zen

Wall Street Zen cut shares of NVE (NASDAQ:NVEC) from a buy rating to a hold rating in a research report released on Saturday morning,Wall Street Zen reports.

Separately, Weiss Ratings upgraded shares of NVE from a “hold (c+)” rating to a “buy (b-)” rating in a report on Thursday, July 23rd. One equities research analyst has rated the stock with a Buy rating, According to data from MarketBeat, the stock presently has an average rating of “Buy”.

NVE Stock Performance

Shares of NVEC stock opened at $97.26 on Friday. NVE has a 52-week low of $57.21 and a 52-week high of $135.00. The stock has a market cap of $470.45 million, a PE ratio of 26.15 and a beta of 1.36. The firm’s 50 day moving average price is $106.23 and its two-hundred day moving average price is $92.61.

NVE (NASDAQ:NVEC) last issued its earnings results on Wednesday, July 22nd. The semiconductor company reported $1.32 EPS for the quarter. The company had revenue of $11.03 million during the quarter. NVE had a net margin of 57.64% and a return on equity of 30.53%.

NVE Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, August 31st. Investors of record on Monday, August 3rd were issued a dividend of $1.00 per share. The ex-dividend date of this dividend was Monday, August 3rd. This represents a $4.00 annualized dividend and a dividend yield of 4.1%. NVE’s payout ratio is presently 107.53%.

Insider Buying and Selling

In other NVE news, Director Daniel Baker sold 21,140 shares of the stock in a transaction dated Tuesday, September 8th. The shares were sold at an average price of $101.49, for a total value of $2,145,498.60. Following the transaction, the director directly owned 17,932 shares of the company’s stock, valued at $1,819,918.68. This represents a 54.11% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In the last quarter, insiders have sold 48,371 shares of company stock valued at $5,249,226. 2.10% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On NVE

Several institutional investors and hedge funds have recently made changes to their positions in the company. Ranger Investment Management L.P. acquired a new position in NVE in the 2nd quarter valued at $12,686,000. Handelsbanken Fonder AB grew its position in shares of 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 acquired a new position in shares of NVE during the 2nd quarter worth approximately $4,879,000. California State Teachers Retirement System increased its holdings in shares of NVE by 2,613.4% during the second quarter. California State Teachers Retirement System now owns 7,109 shares of the semiconductor company’s stock worth $743,000 after purchasing an additional 6,847 shares during the period. Finally, WINTON GROUP Ltd bought a new position in shares of NVE during the second quarter worth approximately $497,000. Institutional investors and hedge funds own 65.95% of the company’s stock.

NVE Company Profile

NVE Corporation (NASDAQ:NVEC) is a technology company that develops and manufactures devices based on spintronics, a field that uses the spin of electrons to create electronic components. The company’s products are designed to provide sensing, data transfer and other electronic functions in applications where low power consumption, small size and high reliability are important.

NVE offers magnetic sensors, couplers and isolators, including standard and custom components for industrial, medical, automotive and other electronic systems.