NVE (NASDAQ:NVEC) Shares Down 5.1% – Should You Sell?

NVE Corporation (NASDAQ:NVEC)’s share price was down 5.1% on Tuesday . The stock traded as low as $111.55 and last traded at $110.9250. Approximately 8,264 shares changed hands during mid-day trading, a decline of 91% from the average daily volume of 88,747 shares. The stock had previously closed at $116.92.

Analysts Set New Price Targets

Separately, Weiss Ratings raised shares of NVE from a “hold (c)” rating to a “hold (c+)” rating in a research report on Monday, June 8th. One analyst has rated the stock with a Hold rating, According to MarketBeat, the company has a consensus rating of “Hold”.

NVE Stock Down 4.8%

The business’s 50-day moving average price is $89.65 and its 200-day moving average price is $74.92. The firm has a market capitalization of $526.69 million, a PE ratio of 34.71 and a beta of 1.39.

NVE (NASDAQ:NVEC) last posted its quarterly earnings results on Wednesday, May 6th. The semiconductor company reported $1.02 earnings per share (EPS) for the quarter. The business had revenue of $7.65 million during the quarter. NVE had a net margin of 57.72% and a return on equity of 25.62%.

NVE Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, May 29th. Stockholders of record on Monday, May 18th were paid a $1.00 dividend. The ex-dividend date of this dividend was Monday, May 18th. This represents a $4.00 dividend on an annualized basis and a dividend yield of 3.7%. NVE’s dividend payout ratio is 127.39%.

Hedge Funds Weigh In On NVE

A number of hedge funds have recently modified their holdings of the stock. Handelsbanken Fonder AB increased its stake in shares of NVE by 62.8% in the fourth quarter. Handelsbanken Fonder AB now owns 102,592 shares of the semiconductor company’s stock worth $6,087,000 after acquiring an additional 39,565 shares during the last quarter. Isthmus Partners LLC increased its stake in shares of NVE by 16.4% in the third quarter. Isthmus Partners LLC now owns 50,998 shares of the semiconductor company’s stock worth $3,329,000 after acquiring an additional 7,186 shares during the last quarter. State of Tennessee Department of Treasury increased 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 acquiring an additional 3,818 shares during the last quarter. Jane Street Group LLC bought a new stake in shares of NVE in the 1st quarter valued at approximately $351,000. Finally, SG Americas Securities LLC grew its stake in shares of NVE by 78.9% in the 4th quarter. SG Americas Securities LLC now owns 3,930 shares of the semiconductor company’s stock valued at $233,000 after buying an additional 1,733 shares in the last quarter. 65.95% of the stock is 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.