Voleon Capital Management LP Purchases 84,692 Shares of NAPCO Security Technologies, Inc. $NSSC

Key Points

• Voleon Capital Management LP significantly increased its stake in NAPCO Security Technologies by 759.2%, acquiring an additional 84,692 shares during the first quarter, bringing its total ownership to about 0.27% of the company.
• Analysts have upgraded NAPCO Security Technologies' stock ratings, with DA Davidson raising the target price from $33.00 to $45.00 and multiple firms now giving the stock a "buy" rating.
• NAPCO Security Technologies reported a profit of $0.33 per share last quarter, exceeding expectations, along with a quarterly revenue of $50.72 million, which was higher than analysts' predictions.

Voleon Capital Management LP increased its stake in shares of NAPCO Security Technologies, Inc. (NASDAQ:NSSC - Free Report) by 759.2% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 95,848 shares of the industrial products company's stock after buying an additional 84,692 shares during the quarter. Voleon Capital Management LP owned 0.27% of NAPCO Security Technologies worth $2,206,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. Goldman Sachs Group Inc. increased its stake in shares of NAPCO Security Technologies by 75.8% in the 1st quarter. Goldman Sachs Group Inc. now owns 589,290 shares of the industrial products company's stock valued at $13,565,000 after buying an additional 254,007 shares during the period. Dynamic Technology Lab Private Ltd acquired a new stake in shares of NAPCO Security Technologies in the 1st quarter valued at $540,000. Uniplan Investment Counsel Inc. increased its stake in shares of NAPCO Security Technologies by 1.0% in the 1st quarter. Uniplan Investment Counsel Inc. now owns 130,984 shares of the industrial products company's stock valued at $3,015,000 after buying an additional 1,270 shares during the period. Millennium Management LLC increased its stake in shares of NAPCO Security Technologies by 62.4% in the 1st quarter. Millennium Management LLC now owns 769,789 shares of the industrial products company's stock valued at $17,721,000 after buying an additional 295,755 shares during the period. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in shares of NAPCO Security Technologies by 4.4% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 20,899 shares of the industrial products company's stock valued at $481,000 after buying an additional 885 shares during the period. 85.07% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities research analysts have recently commented on the company. Wall Street Zen raised NAPCO Security Technologies from a "hold" rating to a "buy" rating in a research note on Saturday, August 30th. Mizuho assumed coverage on NAPCO Security Technologies in a research note on Thursday, July 10th. They issued an "outperform" rating and a $39.00 target price for the company. Zacks Research raised NAPCO Security Technologies from a "hold" rating to a "strong-buy" rating in a research note on Thursday, August 28th. Craig Hallum raised NAPCO Security Technologies from a "hold" rating to a "buy" rating and set a $40.00 target price for the company in a research note on Tuesday, August 26th. Finally, Lake Street Capital upgraded NAPCO Security Technologies from a "hold" rating to a "buy" rating and raised their price target for the stock from $26.00 to $39.00 in a research report on Tuesday, August 26th. One investment analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and two have assigned a Hold rating to the company's stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $37.67.

NAPCO Security Technologies Stock Performance

NSSC stock traded up $0.44 during midday trading on Friday, hitting $41.93. 490,822 shares of the company's stock were exchanged, compared to its average volume of 449,701. The stock's fifty day moving average price is $32.82 and its 200-day moving average price is $27.97. The company has a market cap of $1.50 billion, a PE ratio of 35.24 and a beta of 1.51. NAPCO Security Technologies, Inc. has a one year low of $19.00 and a one year high of $42.58.

NAPCO Security Technologies (NASDAQ:NSSC - Get Free Report) last posted its earnings results on Monday, August 25th. The industrial products company reported $0.33 earnings per share for the quarter, topping the consensus estimate of $0.26 by $0.07. The firm had revenue of $50.72 million for the quarter, compared to analyst estimates of $44.26 million. NAPCO Security Technologies had a return on equity of 25.42% and a net margin of 23.90%.The company's revenue for the quarter was up .8% on a year-over-year basis. During the same period in the previous year, the company posted $0.39 earnings per share. On average, analysts expect that NAPCO Security Technologies, Inc. will post 1.24 EPS for the current year.

NAPCO Security Technologies Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, October 3rd. Shareholders of record on Friday, September 12th will be issued a dividend of $0.14 per share. The ex-dividend date is Friday, September 12th. This represents a $0.56 annualized dividend and a yield of 1.3%. NAPCO Security Technologies's payout ratio is currently 47.06%.

About NAPCO Security Technologies

Napco Security Technologies, Inc develops, manufactures, and sells electronic security systems for commercial, residential, institutional, industrial, and governmental applications in the United States and internationally. Its access control systems include various types of identification readers, control panels, PC-based computers, and electronically activated door-locking devices; intrusion and fire alarm systems, consists of various detectors, a control panel, a digital keypad and signaling equipment; and door locking devices comprise microprocessor-based electronic door locks with push button, card readers and bio-metric operation, door alarms, mechanical door locks, and simple dead bolt locks.