NVE (NASDAQ:NVEC) Director Sells $182,250.00 in Stock

NVE Corporation (NASDAQ:NVEC) Director Daniel Baker sold 1,500 shares of the business’s stock in a transaction that occurred on Monday, August 17th. The shares were sold at an average price of $121.50, for a total value of $182,250.00. Following the completion of the sale, the director owned 44,803 shares of the company’s stock, valued at $5,443,564.50. This trade represents a 3.24% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

NVE Stock Down 0.2%

NVEC stock opened at $109.89 on Friday. NVE Corporation has a 52 week low of $57.21 and a 52 week high of $135.00. The firm has a 50-day simple moving average of $106.58 and a 200-day simple moving average of $88.48. The stock has a market capitalization of $531.87 million, a P/E ratio of 29.54 and a beta of 1.37.

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

NVE Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, August 31st. Investors of record on Monday, August 3rd will be given a dividend of $1.00 per share. This represents a $4.00 annualized dividend and a yield of 3.6%. The ex-dividend date is Monday, August 3rd. NVE’s dividend payout ratio (DPR) is presently 107.53%.

Wall Street Analysts Forecast Growth

NVEC has been the topic of several recent analyst reports. Weiss Ratings upgraded shares of NVE from a “hold (c+)” rating to a “buy (b-)” rating in a report on Thursday, July 23rd. Wall Street Zen downgraded shares of NVE from a “buy” rating to a “hold” rating in a report on Saturday, August 15th. One investment analyst has rated the stock with a Buy rating, According to data from MarketBeat, NVE presently has an average rating of “Buy”.

Institutional Trading of NVE

A number of hedge funds and other institutional investors have recently modified their holdings of NVEC. Ranger Investment Management L.P. acquired a new position in NVE in the second quarter valued at about $12,686,000. Handelsbanken Fonder AB increased its position in shares of NVE by 62.8% during the fourth quarter. Handelsbanken Fonder AB now owns 102,592 shares of the semiconductor company’s stock valued at $6,087,000 after acquiring an additional 39,565 shares during the last quarter. Bank of New York Mellon Corp purchased a new stake in shares of NVE in the 2nd quarter valued at approximately $4,879,000. State of Tennessee Department of Treasury lifted its holdings in shares of NVE by 137.4% in the 2nd 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. Finally, Jane Street Group LLC acquired a new position in shares of NVE in the 1st quarter worth approximately $351,000. 65.95% of the stock is owned by institutional investors and hedge funds.

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.