NVE (NASDAQ:NVEC) Shares Cross Above Two Hundred Day Moving Average - Here's What Happened

Key Points

• NVE Corporation's stock price has recently crossed above its two hundred day moving average of $66.85, hitting a peak of $68.43 during trading.
• The company has declared a quarterly dividend of $1.00 per share, translating to an annualized yield of 5.9% despite a high dividend payout ratio of 133.33%.
• NVE's market capitalization stands at $327.86 million with a reported net margin of 57.71% and a return on equity of 23.16% for the last quarter.

NVE Corporation (NASDAQ:NVEC - Get Free Report)'s stock price crossed above its two hundred day moving average during trading on Wednesday . The stock has a two hundred day moving average of $66.85 and traded as high as $68.43. NVE shares last traded at $67.74, with a volume of 61,365 shares traded.

Analyst Ratings Changes

Separately, Weiss Ratings reaffirmed a "hold (c)" rating on shares of NVE in a report on Wednesday. One research analyst has rated the stock with a Hold rating, Based on data from MarketBeat.com, the stock currently has a consensus rating of "Hold".

NVE Price Performance

The company has a market capitalization of $327.86 million, a price-to-earnings ratio of 22.58 and a beta of 1.22. The company's 50-day moving average price is $64.96 and its two-hundred day moving average price is $66.85.

NVE (NASDAQ:NVEC - Get Free Report) last posted its quarterly earnings results on Wednesday, July 23rd. The semiconductor company reported $0.74 EPS for the quarter. The business had revenue of $6.11 million during the quarter. NVE had a net margin of 57.71% and a return on equity of 23.16%.

NVE Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, August 29th. Investors of record on Monday, August 4th were given a dividend of $1.00 per share. This represents a $4.00 dividend on an annualized basis and a dividend yield of 5.9%. The ex-dividend date of this dividend was Monday, August 4th. NVE's dividend payout ratio (DPR) is presently 133.33%.

Institutional Trading of NVE

A number of large investors have recently added to or reduced their stakes in NVEC. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased 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 worth $183,000 after buying an additional 156 shares during the last quarter. Canton Hathaway LLC lifted its holdings in shares of NVE by 185.0% in the 1st quarter. Canton Hathaway LLC now owns 2,950 shares of the semiconductor company's stock worth $188,000 after acquiring an additional 1,915 shares during the last quarter. Handelsbanken Fonder AB bought a new stake in shares of NVE in the 2nd quarter worth approximately $211,000. Azzad Asset Management Inc. ADV bought a new stake in NVE during the 1st quarter valued at $277,000. Finally, US Bancorp DE raised its holdings in NVE by 6.6% in the 1st quarter. US Bancorp DE now owns 4,794 shares of the semiconductor company's stock worth $306,000 after purchasing an additional 296 shares in the last quarter. Hedge funds and other institutional investors own 65.95% of the company's stock.

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.

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