Insider Selling: NVE (NASDAQ:NVEC) CEO Sells $383,278.20 in Stock

Key Points

• CEO Daniel Baker sold 3,260 NVE shares at an average price of $117.57, generating $383,278.20 and reducing his position by 5.03% to 61,525 shares.
• NVE shares fell 3.7% to $112.26, though they remain well above the 52-week low of $57.21. The company has a $543.34 million market capitalization and a P/E ratio of 30.18.
• NVE reported quarterly earnings of $1.32 per share on $11.03 million in revenue and declared a $1.00 quarterly dividend, representing a 3.6% yield; analysts maintain a consensus “Buy” rating.

NVE Corporation (NASDAQ:NVEC - Get Free Report) CEO Daniel Baker sold 3,260 shares of the stock in a transaction on Tuesday, July 28th. The shares were sold at an average price of $117.57, for a total value of $383,278.20. Following the completion of the transaction, the chief executive officer owned 61,525 shares of the company's stock, valued at $7,233,494.25. This trade represents a 5.03% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website.

NVE Trading Down 3.7%

NVEC stock traded down $4.35 during mid-day trading on Wednesday, reaching $112.26. 258,271 shares of the stock traded hands, compared to its average volume of 286,550. The stock's fifty day moving average is $100.90 and its 200-day moving average is $82.64. NVE Corporation has a 52-week low of $57.21 and a 52-week high of $135.00. The company has a market cap of $543.34 million, a P/E ratio of 30.18 and a beta of 1.38.

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

NVE Dividend Announcement

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

Key Headlines Impacting NVE

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 Investors Weigh In On NVE

A number of large investors have recently bought and sold shares of NVEC. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in NVE by 5.7% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 2,873 shares of the semiconductor company's stock valued at $183,000 after buying an additional 156 shares in the last quarter. Jane Street Group LLC acquired a new position in NVE during the first quarter valued at approximately $351,000. State of Tennessee Department of Treasury raised its position in shares of 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 valued at $486,000 after purchasing an additional 3,818 shares during the period. SG Americas Securities LLC raised its position in shares of NVE by 78.9% in the fourth quarter. SG Americas Securities LLC now owns 3,930 shares of the semiconductor company's stock valued at $233,000 after purchasing an additional 1,733 shares during the period. Finally, Handelsbanken Fonder AB lifted its stake 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 worth $6,087,000 after buying an additional 39,565 shares during the last quarter. 65.95% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on NVEC. Weiss Ratings upgraded shares of NVE from a "hold (c+)" rating to a "buy (b-)" rating in a research report on Thursday, July 23rd. Wall Street Zen upgraded NVE from a "hold" rating to a "buy" rating in a report on Saturday. One research analyst has rated the stock with a Buy rating, Based on data from MarketBeat.com, NVE 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.

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