Weiss Ratings Reiterates "Hold (C)" Rating for NVE (NASDAQ:NVEC)

Key Points

• Weiss Ratings has reaffirmed a "hold (C)" rating for NVE Corporation (NASDAQ:NVEC) as of Wednesday, indicating a neutral stance on the stock's performance.
• NVE's stock saw a slight gain of 1.3%, opening at $67.74 on the same day, with a market capitalization of approximately $327.86 million.
• Institutional investors currently hold nearly 66% of NVE's stock, with companies such as Royce & Associates and Vanguard Group boosting their stakes during the first quarter.

NVE (NASDAQ:NVEC - Get Free Report)'s stock had its "hold (c)" rating reaffirmed by equities research analysts at Weiss Ratings in a report released on Wednesday,Weiss Ratings reports.

NVE Trading Up 1.3%

NVEC opened at $67.74 on Wednesday. The stock has a market capitalization of $327.86 million, a PE ratio of 22.58 and a beta of 1.22. NVE has a 1-year low of $51.50 and a 1-year high of $88.50. The firm has a 50-day moving average price of $64.96 and a two-hundred day moving average price of $66.85.

NVE (NASDAQ:NVEC - Get Free Report) last posted its quarterly earnings data on Wednesday, July 23rd. The semiconductor company reported $0.74 earnings per share for the quarter. The firm 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%.

Institutional Investors Weigh In On NVE

Several institutional investors have recently modified their holdings of the business. Royce & Associates LP grew its position in shares of NVE by 0.3% during the 1st quarter. Royce & Associates LP now owns 489,820 shares of the semiconductor company's stock worth $31,221,000 after buying an additional 1,500 shares during the period. Kayne Anderson Rudnick Investment Management LLC boosted its stake in NVE by 1.4% during the 1st quarter. Kayne Anderson Rudnick Investment Management LLC now owns 371,752 shares of the semiconductor company's stock worth $23,695,000 after acquiring an additional 5,063 shares during the last quarter. Vanguard Group Inc. boosted its stake in NVE by 2.3% during the 1st quarter. Vanguard Group Inc. now owns 283,690 shares of the semiconductor company's stock worth $18,082,000 after acquiring an additional 6,507 shares during the last quarter. Penserra Capital Management LLC boosted its stake in NVE by 41.0% during the 1st quarter. Penserra Capital Management LLC now owns 187,037 shares of the semiconductor company's stock worth $11,921,000 after acquiring an additional 54,404 shares during the last quarter. Finally, Rhumbline Advisers boosted its stake in NVE by 3.7% during the 2nd quarter. Rhumbline Advisers now owns 81,310 shares of the semiconductor company's stock worth $5,985,000 after acquiring an additional 2,891 shares during the last quarter. Institutional investors and hedge funds 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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