Insider Selling: NVE Corp (NVEC) Director Sells $168,040.00 in Stock
NVE Corp (NASDAQ:NVEC) Director Patricia M. Hollister sold 2,000 shares of the business’s stock in a transaction dated Friday, November 16th. The stock was sold at an average price of $84.02, for a total value of $168,040.00. The sale was disclosed in a filing with the SEC, which is available through this link.
Shares of NVEC stock opened at $84.68 on Monday. The stock has a market capitalization of $410.19 million, a PE ratio of 25.90 and a beta of 1.29. NVE Corp has a one year low of $68.50 and a one year high of $135.00.
NVE (NASDAQ:NVEC) last announced its quarterly earnings results on Monday, October 15th. The semiconductor company reported $0.88 EPS for the quarter. The company had revenue of $7.51 million during the quarter. NVE had a return on equity of 18.42% and a net margin of 52.49%.
Several hedge funds have recently made changes to their positions in the company. Conestoga Capital Advisors LLC grew its stake in shares of NVE by 15.8% during the third quarter. Conestoga Capital Advisors LLC now owns 442,379 shares of the semiconductor company’s stock valued at $46,839,000 after buying an additional 60,457 shares during the last quarter. Brown Advisory Inc. acquired a new position in shares of NVE in the second quarter worth about $4,289,000. Wells Fargo & Company MN boosted its holdings in shares of NVE by 20.2% in the third quarter. Wells Fargo & Company MN now owns 160,878 shares of the semiconductor company’s stock worth $17,034,000 after buying an additional 27,043 shares during the period. BlackRock Inc. boosted its holdings in shares of NVE by 5.9% in the second quarter. BlackRock Inc. now owns 346,334 shares of the semiconductor company’s stock worth $42,177,000 after buying an additional 19,206 shares during the period. Finally, Dimensional Fund Advisors LP boosted its holdings in shares of NVE by 13.6% in the third quarter. Dimensional Fund Advisors LP now owns 123,531 shares of the semiconductor company’s stock worth $13,079,000 after buying an additional 14,765 shares during the period. 78.17% of the stock is owned by institutional investors.
Several analysts have weighed in on the company. BidaskClub cut NVE from a “sell” rating to a “strong sell” rating in a report on Thursday, October 11th. ValuEngine cut NVE from a “buy” rating to a “hold” rating in a report on Monday, October 8th.
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NVE Corporation develops and sells devices that use spintronics, a nanotechnology that utilizes electron spin to acquire, store, and transmit information. The company manufactures spintronic products, including sensors and couplers for use in acquiring and transmitting data. Its products comprise standard sensors to detect the presence of a magnetic or metallic material to determine position or speed primarily for the factory automation market; and custom and medical sensors for medical devices to replace electromechanical magnetic switches.
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