NVE (NASDAQ:NVEC) Shares Up 5.7% – Still a Buy?

NVE Corporation (NASDAQ:NVEC)’s stock price traded up 5.7% during mid-day trading on Tuesday . The stock traded as high as $105.20 and last traded at $106.2550. Approximately 5,029 shares traded hands during trading, a decline of 96% from the average daily volume of 132,059 shares. The stock had previously closed at $100.57.

Analyst Upgrades and Downgrades

NVEC has been the topic of several recent research reports. Weiss Ratings raised NVE from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Thursday, July 23rd. Wall Street Zen downgraded NVE from a “buy” rating to a “hold” rating in a research note on Saturday, September 12th. One analyst has rated the stock with a Buy rating, According to MarketBeat.com, the stock presently has an average rating of “Buy”.

NVE Price Performance

The company has a 50-day moving average price of $107.14 and a 200 day moving average price of $93.67. The firm has a market capitalization of $505.49 million, a PE ratio of 28.08 and a beta of 1.36.

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

NVE Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, August 31st. Investors of record on Monday, August 3rd were paid a dividend of $1.00 per share. This represents a $4.00 annualized dividend and a yield of 3.8%. The ex-dividend date of this dividend was Monday, August 3rd. NVE’s dividend payout ratio (DPR) is presently 107.53%.

Insider Transactions at NVE

In other NVE news, Director Daniel Baker sold 21,140 shares of the business’s stock in a transaction on Tuesday, September 8th. The shares were sold at an average price of $101.49, for a total value of $2,145,498.60. Following the sale, the director owned 17,932 shares in the company, valued at $1,819,918.68. The trade was a 54.11% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In the last 90 days, insiders have sold 48,371 shares of company stock valued at $5,249,226. Insiders own 2.10% of the company’s stock.

Hedge Funds Weigh In On NVE

Several institutional investors have recently bought and sold shares of NVEC. Ranger Investment Management L.P. purchased a new position in shares of NVE in the 2nd quarter worth $12,686,000. Bank of New York Mellon Corp purchased a new stake in shares of NVE during the 2nd quarter valued at about $4,879,000. WINTON GROUP Ltd bought a new position in shares of NVE in the 2nd quarter valued at about $497,000. Finally, Odyssean LLC bought a new position in shares of NVE in the 2nd quarter valued at about $248,000. Institutional investors own 65.95% of the company’s stock.

About NVE

NVE Corporation (NASDAQ:NVEC) is a technology company that develops and manufactures devices based on spintronics, a field that uses the spin of electrons to create electronic components. The company’s products are designed to provide sensing, data transfer and other electronic functions in applications where low power consumption, small size and high reliability are important.

NVE offers magnetic sensors, couplers and isolators, including standard and custom components for industrial, medical, automotive and other electronic systems.