NVE (NASDAQ:NVEC) Stock Price Breaks Above 200 Day Moving Average – What’s Next?

NVE Corporation (NASDAQ:NVEC)’s share price passed above its two hundred day moving average during trading on Wednesday. The stock has a two hundred day moving average of $97.28 and traded as high as $115.62. NVE shares last traded at $111.92, with a volume of 132,001 shares changing hands.

Analyst Ratings Changes

NVEC has been the topic of a number of recent research reports. Weiss Ratings raised NVE from a “buy (b-)” rating to a “buy (b)” rating in a report on Thursday. Wall Street Zen downgraded shares of NVE from a “buy” rating to a “hold” rating in a research note on Saturday, September 12th. One equities research analyst has rated the stock with a Buy rating, According to MarketBeat.com, the stock presently has an average rating of “Buy”.

NVE Price Performance

The stock has a market capitalization of $550.55 million, a P/E ratio of 30.60 and a beta of 1.34. The business’s 50 day simple moving average is $109.44 and its 200-day simple moving average is $97.60.

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. NVE had a net margin of 57.64% and a return on equity of 30.53%. The business had revenue of $11.03 million for the quarter.

NVE Dividend Announcement

The company 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. This represents a $4.00 dividend on an annualized basis and a yield of 3.5%. The ex-dividend date was Monday, August 3rd. NVE’s payout ratio is presently 107.53%.

Insider Activity at NVE

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 transaction of $2,145,498.60. Following the transaction, the director owned 17,932 shares of the company’s stock, valued at $1,819,918.68. The trade was a 54.11% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Over the last ninety days, insiders have sold 48,371 shares of company stock valued at $5,249,226. Company insiders own 2.10% of the company’s stock.

Hedge Funds Weigh In On NVE

Large investors have recently made changes to their positions in the company. GAMMA Investing LLC grew its position in NVE by 55.3% during the third quarter. GAMMA Investing LLC now owns 340 shares of the semiconductor company’s stock worth $37,000 after buying an additional 121 shares in the last quarter. Odyssean LLC bought a new stake in shares of NVE during the 2nd quarter valued at $248,000. WINTON GROUP Ltd bought a new stake in shares of NVE during the 2nd quarter valued at $497,000. Bank of New York Mellon Corp acquired a new stake in shares of NVE during the 2nd quarter worth $4,879,000. Finally, Ranger Investment Management L.P. bought a new position in shares of NVE in the second quarter worth $12,686,000. Institutional investors own 65.95% of the company’s stock.

About NVE

NVE Corporation (NASDAQ: NVEC) develops and manufactures spintronic devices that use electron-spin properties to acquire, transmit, and store data. The company’s technology is designed to provide high sensitivity, low power consumption, and electrical isolation in applications that require the transfer or detection of digital signals.

Its product portfolio includes magnetic sensors, digital isolators, and couplers. These components are used in industrial equipment, factory automation, medical devices, energy systems, transportation, and other applications that require sensing, signal isolation, or communication between electrically separated circuits.