Zacks Investment Research upgraded shares of NVE Corporation (NASDAQ:NVEC) from a sell rating to a hold rating in a research report released on Wednesday, July 12th.

According to Zacks, “NVE Corp. is a recognized leader in the practical commercialization of spintronics, which many experts believe represents the next generation of microelectronics. NVE’s products include magnetic sensors and couplers which revolutionize data acquisition and transfer. “

Shares of NVE Corporation (NASDAQ NVEC) opened at 75.27 on Wednesday. The firm has a market cap of $364.38 million, a PE ratio of 27.77 and a beta of 1.21. NVE Corporation has a 52-week low of $55.00 and a 52-week high of $88.34. The stock has a 50 day moving average price of $78.62 and a 200-day moving average price of $79.22.

NVE Corporation (NASDAQ:NVEC) last issued its earnings results on Wednesday, July 19th. The semiconductor company reported $0.68 EPS for the quarter, topping analysts’ consensus estimates of $0.66 by $0.02. The firm had revenue of $7.61 million during the quarter. NVE Corporation had a net margin of 44.87% and a return on equity of 14.02%. On average, equities analysts anticipate that NVE Corporation will post $2.72 EPS for the current fiscal year.

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The company also recently announced a quarterly dividend, which will be paid on Thursday, August 31st. Investors of record on Monday, July 31st will be paid a dividend of $1.00 per share. The ex-dividend date is Thursday, July 27th. This represents a $4.00 dividend on an annualized basis and a dividend yield of 5.31%. NVE Corporation’s payout ratio is currently 148.15%.

In related news, Director Terrence Glarner sold 1,000 shares of the business’s stock in a transaction on Monday, May 22nd. The shares were sold at an average price of $79.04, for a total transaction of $79,040.00. Following the completion of the transaction, the director now owns 2,200 shares in the company, valued at $173,888. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Insiders own 2.30% of the company’s stock.

Several institutional investors have recently modified their holdings of NVEC. Kayne Anderson Rudnick Investment Management LLC increased its position in shares of NVE Corporation by 9.7% in the first quarter. Kayne Anderson Rudnick Investment Management LLC now owns 608,599 shares of the semiconductor company’s stock worth $50,386,000 after buying an additional 53,964 shares during the last quarter. Vanguard Group Inc. increased its position in NVE Corporation by 5.3% in the first quarter. Vanguard Group Inc. now owns 198,475 shares of the semiconductor company’s stock valued at $16,432,000 after buying an additional 10,041 shares in the last quarter. Renaissance Technologies LLC increased its position in NVE Corporation by 12.3% in the first quarter. Renaissance Technologies LLC now owns 107,900 shares of the semiconductor company’s stock valued at $8,933,000 after buying an additional 11,800 shares in the last quarter. Wells Fargo & Company MN increased its position in NVE Corporation by 36.2% in the first quarter. Wells Fargo & Company MN now owns 88,762 shares of the semiconductor company’s stock valued at $7,348,000 after buying an additional 23,613 shares in the last quarter. Finally, Dimensional Fund Advisors LP increased its position in NVE Corporation by 38.4% in the first quarter. Dimensional Fund Advisors LP now owns 51,670 shares of the semiconductor company’s stock valued at $4,278,000 after buying an additional 14,329 shares in the last quarter. Hedge funds and other institutional investors own 71.85% of the company’s stock.

About NVE Corporation

NVE Corporation develops and sells devices that use spintronics, a nanotechnology that relies on electron spin to acquire, store and transmit information. The Company manufactures spintronic products, including sensors and couplers that are used to acquire and transmit data. The Company has also licensed its spintronic magnetoresistive random access memory technology (MRAM).

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