NVE (NASDAQ:NVEC) Stock Price Down 6.2% - Here's What Happened

Key Points

• NVE’s stock fell 6.2% to about $107.70 in mid-day trading, with volume down 79% from its average. The company has a $532.1 million market capitalization and trades at a P/E ratio of 29.65.
• Analyst views were mixed: Wall Street Zen downgraded NVE to “hold,” while Weiss Ratings upgraded it to “buy.” MarketBeat’s overall analyst rating remains “Buy.”
• NVE reported quarterly EPS of $1.32 on $11.03 million in revenue and declared a $1.00 quarterly dividend, equivalent to a 3.6% yield. Separately, CEO Daniel A. Baker sold 15,222 shares, and insiders sold 20,000 shares over the past quarter.

NVE Corporation (NASDAQ:NVEC - Get Free Report)'s stock price fell 6.2% during trading on Wednesday . The stock traded as low as $105.01 and last traded at $107.7030. Approximately 27,665 shares changed hands during mid-day trading, a decline of 79% from the average daily volume of 134,130 shares. The stock had previously closed at $114.78.

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on the company. Wall Street Zen downgraded NVE from a "buy" rating to a "hold" rating in a research note on Saturday. Weiss Ratings upgraded shares of NVE from a "hold (c+)" rating to a "buy (b-)" rating in a research report on Thursday, July 23rd. One research analyst has rated the stock with a Buy rating, According to MarketBeat.com, the stock has an average rating of "Buy".

NVE Stock Performance

The firm has a 50 day simple moving average of $106.67 and a 200 day simple moving average of $87.75. The firm has a market cap of $532.07 million, a P/E ratio of 29.65 and a beta of 1.37.

NVE (NASDAQ:NVEC - Get Free Report) last announced its quarterly earnings results on Wednesday, July 22nd. The semiconductor company reported $1.32 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%.

NVE Announces Dividend

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

Insider Buying and Selling

In other NVE news, CEO Daniel A. Baker sold 15,222 shares of the firm's stock in a transaction dated Wednesday, July 29th. The stock was sold at an average price of $114.08, for a total transaction of $1,736,525.76. Following the sale, the chief executive officer owned 46,303 shares in the company, valued at $5,282,246.24. This trade represents a 24.74% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders sold a total of 20,000 shares of company stock valued at $2,298,260 over the last quarter. 2.10% of the stock is owned by corporate insiders.

Institutional Trading of NVE

A number of hedge funds have recently bought and sold shares of the company. McMillan Office Inc. bought a new position in NVE during the fourth quarter valued at approximately $30,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in shares of NVE by 5.7% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 2,873 shares of the semiconductor company's stock valued at $183,000 after purchasing an additional 156 shares in the last quarter. Jane Street Group LLC bought a new position in shares of NVE during the 1st quarter valued at $351,000. State of Tennessee Department of Treasury raised 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 worth $486,000 after purchasing an additional 3,818 shares during the period. Finally, Bank of New York Mellon Corp bought a new stake in NVE in the second quarter worth $4,879,000. Institutional investors own 65.95% of the company's stock.

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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