NVE (NASDAQ:NVEC) CEO Sells 15,222 Shares of Stock

NVE Corporation (NASDAQ:NVEC) CEO Daniel Baker sold 15,222 shares of the firm’s stock in a transaction on Wednesday, July 29th. The stock was sold at an average price of $114.08, for a total value of $1,736,525.76. Following the completion of the transaction, the chief executive officer owned 46,303 shares of the company’s stock, valued at $5,282,246.24. This trade represents a 24.74% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.

NVE Price Performance

NVEC traded down $4.35 on Wednesday, reaching $112.26. 258,271 shares of the stock were exchanged, compared to its average volume of 286,550. The company’s 50-day moving average price is $100.90 and its 200 day moving average price is $82.64. The firm has a market capitalization of $543.34 million, a PE ratio of 30.18 and a beta of 1.38. NVE Corporation has a fifty-two week low of $57.21 and a fifty-two week high of $135.00.

NVE (NASDAQ:NVEC) last announced its quarterly earnings data on Wednesday, July 22nd. The semiconductor company reported $1.32 earnings per share for the quarter. NVE had a return on equity of 30.53% and a net margin of 57.64%.The business had revenue of $11.03 million for the quarter.

NVE Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, August 31st. Investors of record on Monday, August 3rd will be issued a $1.00 dividend. This represents a $4.00 annualized dividend and a yield of 3.6%. The ex-dividend date is Monday, August 3rd. NVE’s dividend payout ratio is 107.53%.

Analyst Upgrades and Downgrades

Several analysts have commented on the stock. Wall Street Zen upgraded shares of NVE from a “hold” rating to a “buy” rating in a research note on Saturday. Weiss Ratings raised shares of NVE from a “hold (c+)” rating to a “buy (b-)” rating in a report on Thursday, July 23rd. One investment analyst has rated the stock with a Buy rating, According to MarketBeat.com, NVE presently has a consensus rating of “Buy”.

Key NVE News

Here are the key news stories impacting NVE this week:

• Positive Sentiment: NVE reported quarterly earnings of $1.32 per share on $11.03 million in revenue, an earnings beat that reinforced investor confidence in the semiconductor company’s profitability. Management also affirmed its dividend, supporting the stock’s income appeal. NVE (NVEC) Is Up 38.8% After Earnings Beat And Dividend Affirmation Has The Bull Case Changed?
• Neutral Sentiment: NVE’s fundamentals remain strong, with a reported net margin of 57.64% and return on equity of 30.53%. However, the stock’s price-to-earnings ratio of about 30 and position near its 52-week high may leave shares sensitive to profit-taking if future results or guidance disappoint.

Institutional Trading of NVE

A number of hedge funds have recently modified their holdings of the stock. Handelsbanken Fonder AB raised its position in shares of NVE by 62.8% in 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. Jane Street Group LLC acquired a new position in NVE during the first quarter worth about $351,000. State of Tennessee Department of Treasury grew its stake in NVE by 137.4% during the 2nd quarter. State of Tennessee Department of Treasury now owns 6,596 shares of the semiconductor company’s stock valued at $486,000 after acquiring an additional 3,818 shares in the last quarter. SG Americas Securities LLC grew its stake in NVE by 78.9% during the 4th quarter. SG Americas Securities LLC now owns 3,930 shares of the semiconductor company’s stock valued at $233,000 after acquiring an additional 1,733 shares in the last quarter. Finally, McMillan Office Inc. acquired a new stake in NVE in the 4th quarter valued at about $30,000. Hedge funds and other institutional investors own 65.95% of the company’s stock.

NVE Company Profile

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.