NVE (NASDAQ:NVEC) Releases Quarterly Earnings Results

Key Points

• NVE reported a quarterly earnings per share (EPS) of $0.68, with a return on equity of 23.16% and a net margin of 57.71%.
• The stock price decreased by 3.6% to $70.60, with a market capitalization of $341.70 million and a PE ratio of 23.53.
• Institutional investors hold 65.95% of NVE's stock, with significant increases in holdings reported by MIRAE ASSET GLOBAL ETFS and State of Tennessee Department of Treasury.

NVE (NASDAQ:NVEC - Get Free Report) posted its quarterly earnings data on Wednesday. The semiconductor company reported $0.68 EPS for the quarter, Zacks reports. NVE had a return on equity of 23.16% and a net margin of 57.71%.

NVE Trading Down 3.6%

NVEC stock traded down $2.65 during midday trading on Wednesday, hitting $70.60. 31,392 shares of the company's stock were exchanged, compared to its average volume of 42,902. The business has a 50-day simple moving average of $66.82 and a two-hundred day simple moving average of $67.36. The stock has a market capitalization of $341.70 million, a PE ratio of 23.53 and a beta of 1.22. NVE has a 1-year low of $51.50 and a 1-year high of $88.50.

Institutional Investors Weigh In On NVE

Institutional investors have recently modified their holdings of the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in NVE by 5.7% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 2,873 shares of the semiconductor company's stock worth $183,000 after buying an additional 156 shares during the last quarter. State of Tennessee Department of Treasury increased its position in NVE by 137.4% in the 2nd quarter. State of Tennessee Department of Treasury now owns 6,596 shares of the semiconductor company's stock valued at $486,000 after acquiring an additional 3,818 shares during the period. Finally, Jane Street Group LLC acquired a new position in NVE in the 1st quarter valued at about $351,000. 65.95% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Separately, Weiss Ratings reaffirmed a "hold (c)" rating on shares of NVE in a research note on Wednesday, October 8th. One investment analyst has rated the stock with a Hold rating, According to MarketBeat.com, NVE presently has a consensus rating of "Hold".

About NVE

NVE Corporation develops and sells devices that use spintronics, a nanotechnology that relies on electron spin to acquire, store, and transmit information in the United States and internationally. The company manufactures spintronic products, including sensors and couplers for use in acquiring and transmitting data.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.