Daniel Baker Sells 1,500 Shares of NVE (NASDAQ:NVEC) Stock

Key Points

• Director Daniel Baker sold 1,500 NVE shares at an average price of $121.50, generating $182,250 and reducing his ownership by 3.24% to 44,803 shares.
• NVE reported quarterly EPS of $1.32 on $11.03 million in revenue, with a 57.64% net margin and 30.53% return on equity. The company also declared a $1.00 quarterly dividend, equivalent to a 3.6% annualized yield.
• Shares recently traded at $111.28, with a market capitalization of about $538.6 million and a P/E ratio of 29.91. Institutional investors own approximately 65.95% of the stock, while analyst sentiment remains a consensus “Buy.”

NVE Corporation (NASDAQ:NVEC - Get Free Report) Director Daniel Baker sold 1,500 shares of the business's stock in a transaction dated Monday, August 17th. The stock was sold at an average price of $121.50, for a total value of $182,250.00. Following the transaction, the director owned 44,803 shares of the company's stock, valued at approximately $5,443,564.50. The trade was a 3.24% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

NVE Price Performance

Shares of NASDAQ:NVEC traded down $3.50 on Wednesday, hitting $111.28. The company's stock had a trading volume of 180,672 shares, compared to its average volume of 235,631. The company has a 50-day simple moving average of $106.80 and a 200 day simple moving average of $88.03. NVE Corporation has a 1 year low of $57.21 and a 1 year high of $135.00. The company has a market capitalization of $538.60 million, a PE ratio of 29.91 and a beta of 1.37.

NVE (NASDAQ:NVEC - Get Free Report) last issued its quarterly earnings data 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 during the quarter.

NVE Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, August 31st. Investors of record on Monday, August 3rd will be given a $1.00 dividend. This represents a $4.00 dividend on an annualized basis and a yield of 3.6%. The ex-dividend date is Monday, August 3rd. NVE's dividend payout ratio (DPR) is presently 107.53%.

Institutional Investors Weigh In On NVE

Several institutional investors and hedge funds have recently bought and sold shares of the business. Handelsbanken Fonder AB raised its holdings in shares of 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 acquiring an additional 39,565 shares in the last quarter. State of Tennessee Department of Treasury lifted its stake in NVE by 137.4% in the second quarter. State of Tennessee Department of Treasury now owns 6,596 shares of the semiconductor company's stock worth $486,000 after acquiring an additional 3,818 shares during the period. Bank of New York Mellon Corp bought a new stake in NVE in the second quarter valued at $4,879,000. McMillan Office Inc. bought a new stake in NVE in the fourth quarter valued at $30,000. Finally, Jane Street Group LLC purchased a new position in NVE during the 1st quarter valued at $351,000. Hedge funds and other institutional investors own 65.95% of the company's stock.

Key Headlines Impacting NVE

Here are the key news stories impacting NVE this week:

• Neutral Sentiment: The supplied reports focus on Wolfspeed, BILL, and other unrelated companies; therefore, they do not provide a direct catalyst for NVE’s share-price movement.
• Positive Sentiment: NVE’s latest reported quarter showed $1.32 in earnings per share on $11.03 million of revenue, supported by a high 57.64% net margin and 30.53% return on equity.
• Neutral Sentiment: The stock remains valued at approximately 29.9 times earnings. Its price is above both its 50-day and 200-day moving averages, indicating strong longer-term momentum but also leaving valuation and expectations important risks for investors.

Wall Street Analysts Forecast Growth

NVEC has been the subject of a number of 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 report on Saturday. One equities research analyst has rated the stock with a Buy rating, According to data from MarketBeat, the stock has a consensus rating of "Buy".

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

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