NVE (NASDAQ:NVEC) Stock Price Crosses Above Two Hundred Day Moving Average – Here’s What Happened

NVE Corporation (NASDAQ:NVEC) shares passed above its 200-day moving average during trading on Tuesday. The stock has a 200-day moving average of $95.39 and traded as high as $111.85. NVE shares last traded at $111.07, with a volume of 69,623 shares trading hands.

Analyst Ratings Changes

NVEC has been the subject of a number of research 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 cut NVE from a “buy” rating to a “hold” rating in a report on Saturday, September 12th. One investment analyst has rated the stock with a Buy rating, According to MarketBeat.com, the stock presently has a consensus rating of “Buy”.

NVE Stock Up 0.7%

The business’s fifty day moving average is $110.17 and its 200 day moving average is $95.68. The firm has a market capitalization of $536.27 million, a price-to-earnings ratio of 29.78 and a beta of 1.36.

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

NVE Announces Dividend

The company also recently disclosed 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 was Monday, August 3rd. This represents a $4.00 dividend on an annualized basis and a dividend yield of 3.6%. NVE’s dividend payout ratio (DPR) is presently 107.53%.

Insider Activity

In other NVE news, Director Daniel Baker sold 21,140 shares of the business’s stock in a transaction that occurred on Tuesday, September 8th. The stock was sold at an average price of $101.49, for a total value of $2,145,498.60. Following the sale, the director owned 17,932 shares in the company, valued at approximately $1,819,918.68. The trade was a 54.11% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders sold 48,371 shares of company stock worth $5,249,226 in the last ninety days. 2.10% of the stock is currently owned by company insiders.

Institutional Trading of NVE

Hedge funds and other institutional investors have recently made changes to their positions in the business. Odyssean LLC acquired a new position in NVE during the second quarter worth $248,000. WINTON GROUP Ltd acquired a new stake in NVE in the 2nd quarter valued at $497,000. Bank of New York Mellon Corp acquired a new stake in NVE in the 2nd quarter valued at $4,879,000. Finally, Ranger Investment Management L.P. bought a new stake in NVE during the 2nd quarter worth about $12,686,000. 65.95% of the stock is currently owned by institutional investors and hedge funds.

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.