Voleon Capital Management LP Raises Stock Position in 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 NAPCO Security Technologies, Inc. (NASDAQ:NSSC - Free Report) by 759.2% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 95,848 shares of the industrial products company's stock after purchasing 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 quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Goldman Sachs Group Inc. raised its position in NAPCO Security Technologies by 75.8% in the first quarter. Goldman Sachs Group Inc. now owns 589,290 shares of the industrial products company's stock worth $13,565,000 after acquiring an additional 254,007 shares during the period. Dynamic Technology Lab Private Ltd bought a new position in NAPCO Security Technologies in the first quarter worth approximately $540,000. Uniplan Investment Counsel Inc. raised its position in NAPCO Security Technologies by 1.0% in the first quarter. Uniplan Investment Counsel Inc. now owns 130,984 shares of the industrial products company's stock worth $3,015,000 after acquiring an additional 1,270 shares during the period. Millennium Management LLC raised its position in NAPCO Security Technologies by 62.4% in the first quarter. Millennium Management LLC now owns 769,789 shares of the industrial products company's stock worth $17,721,000 after acquiring an additional 295,755 shares during the period. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in NAPCO Security Technologies by 4.4% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 20,899 shares of the industrial products company's stock worth $481,000 after acquiring an additional 885 shares during the period. Hedge funds and other institutional investors own 85.07% of the company's stock.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on the stock. Needham & Company LLC increased their price target on shares of NAPCO Security Technologies from $32.00 to $36.00 and gave the stock a "buy" rating in a research report on Tuesday, August 26th. DA Davidson raised their price objective on shares of NAPCO Security Technologies from $33.00 to $45.00 and gave the company a "buy" rating in a research report on Tuesday, August 26th. Craig Hallum upgraded shares of NAPCO Security Technologies from a "hold" rating to a "buy" rating and set a $40.00 price objective on the stock in a research report on Tuesday, August 26th. Lake Street Capital upgraded shares of NAPCO Security Technologies from a "hold" rating to a "buy" rating and raised their price objective for the company from $26.00 to $39.00 in a research report on Tuesday, August 26th. Finally, Wall Street Zen upgraded shares of NAPCO Security Technologies from a "hold" rating to a "buy" rating in a research report on Saturday, August 30th. One investment analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and two have assigned a Hold rating to the company. According to MarketBeat, NAPCO Security Technologies has a consensus rating of "Moderate Buy" and a consensus price target of $37.67.

NAPCO Security Technologies Stock Up 1.1%

NASDAQ NSSC traded up $0.44 on Friday, reaching $41.93. The company had a trading volume of 490,822 shares, compared to its average volume of 456,665. The stock has a market capitalization of $1.50 billion, a PE ratio of 35.24 and a beta of 1.51. The firm's 50 day moving average price is $33.06 and its 200 day moving average price is $28.15. NAPCO Security Technologies, Inc. has a 12 month low of $19.00 and a 12 month high of $42.58.

NAPCO Security Technologies (NASDAQ:NSSC - Get Free Report) last announced its quarterly earnings results on Monday, August 25th. The industrial products company reported $0.33 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.26 by $0.07. NAPCO Security Technologies had a net margin of 23.90% and a return on equity of 25.42%. The company had revenue of $50.72 million for the quarter, compared to the consensus estimate of $44.26 million. During the same period in the previous year, the firm posted $0.39 EPS. NAPCO Security Technologies's revenue for the quarter was up .8% compared to the same quarter last year. On average, research 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 disclosed a quarterly dividend, which will be paid on Friday, October 3rd. Shareholders of record on Friday, September 12th will be paid a $0.14 dividend. This represents a $0.56 dividend on an annualized basis and a dividend yield of 1.3%. The ex-dividend date of this dividend is Friday, September 12th. NAPCO Security Technologies's dividend payout ratio (DPR) is presently 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.