NVE (NASDAQ:NVEC) Sees Large Volume Increase – Should You Buy?

Shares of NVE Corporation (NASDAQ:NVEC) saw unusually-strong trading volume on Tuesday . Approximately 120,743 shares were traded during mid-day trading, an increase of 55% from the previous session’s volume of 77,802 shares.The stock last traded at $105.5220 and had previously closed at $106.87.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings reiterated a “hold (c)” rating on shares of NVE in a research note on Friday, March 27th. One analyst has rated the stock with a Hold rating, Based on data from MarketBeat, NVE currently has a consensus rating of “Hold”.

NVE Stock Down 4.6%

The stock has a market cap of $493.61 million, a P/E ratio of 32.41 and a beta of 1.39. The business has a 50 day moving average price of $85.22 and a two-hundred day moving average price of $73.11.

NVE (NASDAQ:NVEC) last released its quarterly earnings data on Wednesday, May 6th. The semiconductor company reported $1.02 earnings per share for the quarter. NVE had a return on equity of 25.62% and a net margin of 57.72%.The firm had revenue of $7.65 million during the quarter.

NVE Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, May 29th. Investors of record on Monday, May 18th were paid a dividend of $1.00 per share. The ex-dividend date of this dividend was Monday, May 18th. This represents a $4.00 dividend on an annualized basis and a yield of 3.9%. NVE’s dividend payout ratio is presently 127.39%.

Hedge Funds Weigh In On NVE

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. McMillan Office Inc. bought a new position in NVE during the fourth quarter valued at approximately $30,000. Handelsbanken Fonder AB boosted its stake in NVE by 62.8% during the fourth 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 during the last quarter. SG Americas Securities LLC boosted its stake in NVE by 78.9% during the fourth quarter. SG Americas Securities LLC now owns 3,930 shares of the semiconductor company’s stock valued at $233,000 after buying an additional 1,733 shares during the last quarter. Isthmus Partners LLC boosted its stake in NVE by 16.4% during the third quarter. Isthmus Partners LLC now owns 50,998 shares of the semiconductor company’s stock valued at $3,329,000 after buying an additional 7,186 shares during the last quarter. Finally, State of Tennessee Department of Treasury boosted its stake in 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. 65.95% of the stock is owned by institutional investors.

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.