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

Key Points

• NVE shares moved above their 200-day moving average, reaching $100.81 before closing at $98.56, compared with a 200-day average of $90.98.
• Analyst sentiment improved, with Weiss Ratings and Wall Street Zen upgrading the stock to “Buy”; MarketBeat data shows an overall “Buy” rating.
• NVE reported $1.32 in quarterly EPS on $11.03 million in revenue and declared a $1.00 quarterly dividend, equal to a 4.1% yield, though its payout ratio was elevated at 107.53%.

NVE Corporation (NASDAQ:NVEC - Get Free Report) passed above its two hundred day moving average during trading on Thursday . The stock has a two hundred day moving average of $90.98 and traded as high as $100.81. NVE shares last traded at $98.56, with a volume of 128,616 shares changing hands.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on the stock. Weiss Ratings raised 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 shares of NVE from a "hold" rating to a "buy" rating in a research note on Sunday, August 23rd. One research analyst has rated the stock with a Buy rating, According to data from MarketBeat.com, NVE currently has an average rating of "Buy".

NVE Trading Up 0.1%

The firm has a 50-day simple moving average of $106.30 and a two-hundred day simple moving average of $90.98. The company has a market capitalization of $477.03 million, a price-to-earnings ratio of 26.49 and a beta of 1.36.

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

NVE Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, August 31st. Investors of record on Monday, August 3rd were given a dividend of $1.00 per share. This represents a $4.00 annualized dividend and a yield of 4.1%. The ex-dividend date was Monday, August 3rd. NVE's dividend payout ratio (DPR) is currently 107.53%.

Insider Transactions at NVE

In other NVE news, CEO Daniel Baker sold 15,222 shares of the company's stock in a transaction that occurred on Wednesday, July 29th. The stock was sold at an average price of $114.08, for a total value of $1,736,525.76. Following the sale, the chief executive officer owned 46,303 shares in the company, valued at approximately $5,282,246.24. This represents a 24.74% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Insiders sold 27,231 shares of company stock valued at $3,103,727 over the last three months. Insiders own 2.10% of the company's stock.

Hedge Funds Weigh In On NVE

Large investors have recently made changes to their positions in the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted 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 in the last quarter. Jane Street Group LLC purchased a new position in NVE in the first quarter valued at $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 worth $486,000 after acquiring an additional 3,818 shares during the period. Handelsbanken Fonder AB raised its position 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 acquiring an additional 39,565 shares during the period. Finally, McMillan Office Inc. purchased a new stake in shares of NVE during the 4th quarter worth about $30,000. 65.95% of the stock is currently owned by institutional investors and hedge funds.

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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