Analysts Set $66.00 Price Target for NVE Corp. (NVEC)
Shares of NVE Corp. (NASDAQ:NVEC) have been given an average broker rating score of 1.00 (Strong Buy) from the one analysts that provide coverage for the stock, Zacks Investment Research reports. One equities research analyst has rated the stock with a strong buy rating.
Brokers have set a 12-month consensus price objective of $66.00 for the company and are forecasting that the company will post $0.56 EPS for the current quarter, according to Zacks. Zacks has also assigned NVE Corp. an industry rank of 30 out of 265 based on the ratings given to related companies.
Separately, Zacks Investment Research upgraded NVE Corp. from a “sell” rating to a “hold” rating in a research note on Wednesday, July 6th.
NVE Corp. (NASDAQ:NVEC) opened at 57.60 on Tuesday. NVE Corp. has a 1-year low of $45.47 and a 1-year high of $62.93. The company has a market capitalization of $278.50 million, a P/E ratio of 24.01 and a beta of 0.59. The firm has a 50-day moving average price of $58.59 and a 200 day moving average price of $57.55.
NVE Corp. (NASDAQ:NVEC) last announced its quarterly earnings data on Wednesday, July 20th. The company reported $0.65 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.54 by $0.11. NVE Corp. had a return on equity of 11.54% and a net margin of 44.52%. The firm earned $6.71 million during the quarter, compared to analysts’ expectations of $6.40 million. On average, equities analysts predict that NVE Corp. will post $2.16 EPS for the current year.
In related news, Director Terrence Glarner sold 1,000 shares of the business’s stock in a transaction on Thursday, August 11th. The stock was sold at an average price of $57.86, for a total value of $57,860.00. Following the sale, the director now owns 4,200 shares in the company, valued at approximately $243,012. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 2.40% of the stock is owned by corporate insiders.
Several large investors have recently bought and sold shares of the stock. Prudential Financial Inc. increased its stake in NVE Corp. by 12.7% in the first quarter. Prudential Financial Inc. now owns 16,023 shares of the company’s stock valued at $906,000 after buying an additional 1,800 shares in the last quarter. Geode Capital Management LLC increased its stake in NVE Corp. by 2.7% in the first quarter. Geode Capital Management LLC now owns 32,947 shares of the company’s stock valued at $1,862,000 after buying an additional 871 shares in the last quarter. Strs Ohio increased its stake in NVE Corp. by 8.2% in the second quarter. Strs Ohio now owns 10,600 shares of the company’s stock valued at $621,000 after buying an additional 800 shares in the last quarter. Swiss National Bank increased its stake in NVE Corp. by 10.4% in the second quarter. Swiss National Bank now owns 8,500 shares of the company’s stock valued at $499,000 after buying an additional 800 shares in the last quarter. Finally, Emerald Acquisition Ltd. purchased a new stake in NVE Corp. during the second quarter valued at about $360,000. Hedge funds and other institutional investors own 73.25% of the company’s stock.
About NVE Corp.
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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