NVE (NASDAQ:NVEC) Director Daniel Baker Sells 1,500 Shares of Stock

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

NVE Trading Down 3.0%

NVEC traded down $3.50 during midday trading on Wednesday, reaching $111.28. The company’s stock had a trading volume of 180,672 shares, compared to its average volume of 235,631. The firm has a market capitalization of $538.60 million, a price-to-earnings ratio of 29.91 and a beta of 1.37. NVE Corporation has a 1 year low of $57.21 and a 1 year high of $135.00. The stock’s 50-day moving average is $106.80 and its 200-day moving average is $88.03.

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 business had revenue of $11.03 million during the quarter.

NVE Dividend Announcement

The business 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 dividend on an annualized basis and a yield of 3.6%. The ex-dividend date of this dividend is Monday, August 3rd. NVE’s dividend payout ratio (DPR) is 107.53%.

Analysts Set New Price Targets

Several research firms have commented on NVEC. Weiss Ratings raised 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 research note on Saturday. One research analyst has rated the stock with a Buy rating, Based on data from MarketBeat, the company presently has a consensus rating of “Buy”.

NVE News Summary

Here are the key news stories impacting NVE this week:

• Neutral Sentiment: The supplied reports focus on Wolfspeed, BILL, and other unrelated companies; therefore, they do not provide a direct catalyst for NVE’s share-price movement.
• Positive Sentiment: NVE’s latest reported quarter showed $1.32 in earnings per share on $11.03 million of revenue, supported by a high 57.64% net margin and 30.53% return on equity.
• Neutral Sentiment: The stock remains valued at approximately 29.9 times earnings. Its price is above both its 50-day and 200-day moving averages, indicating strong longer-term momentum but also leaving valuation and expectations important risks for investors.

Institutional Trading of NVE

A number of institutional investors have recently made changes to their positions in NVEC. Ranger Investment Management L.P. purchased a new position in NVE in the 2nd quarter worth approximately $12,686,000. Bank of New York Mellon Corp purchased a new stake in NVE during the 2nd quarter valued at approximately $4,879,000. Handelsbanken Fonder AB grew its holdings in NVE by 62.8% during the 4th quarter. Handelsbanken Fonder AB now owns 102,592 shares of the semiconductor company’s stock valued at $6,087,000 after buying an additional 39,565 shares in the last quarter. Jane Street Group LLC bought a new stake in shares of NVE during the first quarter valued at approximately $351,000. Finally, State of Tennessee Department of Treasury raised its position in shares of NVE by 137.4% during 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 buying an additional 3,818 shares during the last quarter. Hedge funds and other institutional investors own 65.95% of the company’s stock.

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.