NVE (NASDAQ:NVEC) Stock Price Down 6.2% – Here’s What Happened

Shares of NVE Corporation (NASDAQ:NVEC) fell 6.2% on Wednesday . The stock traded as low as $105.01 and last traded at $107.7030. 27,665 shares were traded during trading, a decline of 79% from the average session volume of 134,130 shares. The stock had previously closed at $114.78.

Analyst Ratings Changes

NVEC has been the topic of a number of analyst reports. Weiss Ratings raised NVE from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Thursday, July 23rd. Wall Street Zen lowered NVE from a “buy” rating to a “hold” rating in a research note on Saturday. One equities research analyst has rated the stock with a Buy rating, According to MarketBeat.com, the stock has a consensus rating of “Buy”.

NVE Stock Down 4.2%

The company has a market capitalization of $532.07 million, a PE ratio of 29.65 and a beta of 1.37. The stock’s fifty day moving average price is $106.67 and its two-hundred day moving average price is $87.75.

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

NVE Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, August 31st. Shareholders of record on Monday, August 3rd will be issued a $1.00 dividend. The ex-dividend date is Monday, August 3rd. This represents a $4.00 annualized dividend and a yield of 3.6%. NVE’s dividend payout ratio is 107.53%.

Insider Activity at NVE

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 sale, the chief executive officer owned 46,303 shares of the company’s stock, valued at approximately $5,282,246.24. The trade was a 24.74% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Over the last three months, insiders have sold 20,000 shares of company stock valued at $2,298,260. Company insiders own 2.10% of the company’s stock.

Institutional Trading of NVE

Several institutional investors and hedge funds have recently bought and sold shares of NVEC. Ranger Investment Management L.P. bought a new stake in NVE during the second quarter valued at about $12,686,000. Handelsbanken Fonder AB lifted its position in shares of NVE by 62.8% in 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 during the period. Bank of New York Mellon Corp bought a new stake in NVE during the 2nd quarter valued at $4,879,000. State of Tennessee Department of Treasury grew its stake in 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 valued at $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 during the 1st quarter worth approximately $351,000. 65.95% of the stock is currently owned by hedge funds and other institutional investors.

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.