NVE (NASDAQ:NVEC) Raised to Buy at Wall Street Zen

Key Points

• NVE was upgraded to “Buy” from “Hold” by Wall Street Zen, while Weiss Ratings also recently raised its rating; MarketBeat reports a consensus “Buy” rating.
• NVE shares opened at $109.89, with a $531.87 million market capitalization and a 29.54 price-to-earnings ratio. The company recently reported quarterly EPS of $1.32 on $11.03 million in revenue, along with a 57.64% net margin.
• Insiders sold 21,500 shares worth approximately $2.48 million during the last quarter, while institutional ownership stands at 65.95%; several major investors initiated or increased positions in the company.

NVE (NASDAQ:NVEC - Get Free Report) was upgraded by analysts at Wall Street Zen from a "hold" rating to a "buy" rating in a research note issued on Sunday.

Separately, Weiss Ratings raised shares of NVE from a "hold (c+)" rating to a "buy (b-)" rating in a research note on Thursday, July 23rd. One equities research analyst has rated the stock with a Buy rating, Based on data from MarketBeat, NVE has a consensus rating of "Buy".

NVE Trading Down 0.2%

Shares of NVEC opened at $109.89 on Friday. The firm has a market cap of $531.87 million, a PE ratio of 29.54 and a beta of 1.37. NVE has a 1-year low of $57.21 and a 1-year high of $135.00. The firm has a fifty day simple moving average of $106.58 and a two-hundred day simple moving average of $88.48.

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

Insider Activity

In other news, Director Daniel A. Baker sold 1,500 shares of the business's stock in a transaction dated Monday, August 17th. The shares were sold at an average price of $121.50, for a total transaction of $182,250.00. Following the completion of the sale, the director owned 44,803 shares of the company's stock, valued at $5,443,564.50. The trade was a 3.24% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Insiders have sold a total of 21,500 shares of company stock valued at $2,480,510 in the last quarter. 2.10% of the stock is owned by company insiders.

Institutional Investors Weigh In On NVE

Large investors have recently bought and sold shares of the company. Odyssean LLC acquired a new stake in shares of NVE in the second quarter worth approximately $248,000. Ranger Investment Management L.P. purchased a new position in NVE in the 2nd quarter valued at $12,686,000. Bank of New York Mellon Corp acquired a new stake in NVE during the 2nd quarter worth $4,879,000. McMillan Office Inc. acquired a new stake in NVE during the 4th quarter worth $30,000. Finally, Handelsbanken Fonder AB grew 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 worth $6,087,000 after buying an additional 39,565 shares in the last quarter. 65.95% of the stock is currently owned by hedge funds and other institutional investors.

NVE Company Profile

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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