BidaskClub Lowers NVE (NASDAQ:NVEC) to Sell

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BidaskClub lowered shares of NVE (NASDAQ:NVEC) from a hold rating to a sell rating in a report issued on Tuesday, BidAskClub reports.

Shares of NASDAQ:NVEC opened at $73.01 on Tuesday. NVE has a 12-month low of $60.98 and a 12-month high of $104.30. The company has a market capitalization of $353.81 million, a PE ratio of 25.26 and a beta of 1.37. The business has a 50 day moving average of $71.85 and a two-hundred day moving average of $67.46.

NVE (NASDAQ:NVEC) last announced its quarterly earnings results on Wednesday, January 22nd. The semiconductor company reported $0.77 earnings per share (EPS) for the quarter. The company had revenue of $6.47 million during the quarter. NVE had a return on equity of 17.18% and a net margin of 57.13%.

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, February 28th. Stockholders of record on Monday, February 3rd will be given a $1.00 dividend. This represents a $4.00 dividend on an annualized basis and a dividend yield of 5.48%. The ex-dividend date is Friday, January 31st.

In other news, Director Patricia M. Hollister sold 2,000 shares of the business’s stock in a transaction that occurred on Thursday, February 6th. The stock was sold at an average price of $72.23, for a total value of $144,460.00. Following the completion of the sale, the director now directly owns 2,040 shares in the company, valued at $147,349.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Curt A. Reynders sold 1,200 shares of the business’s stock in a transaction that occurred on Wednesday, February 5th. The shares were sold at an average price of $74.51, for a total value of $89,412.00. Following the completion of the sale, the chief financial officer now owns 4,300 shares of the company’s stock, valued at $320,393. The disclosure for this sale can be found here. 2.30% of the stock is owned by insiders.

Several institutional investors have recently bought and sold shares of the company. Murphy Pohlad Asset Management LLC increased its position in shares of NVE by 2.5% in the fourth quarter. Murphy Pohlad Asset Management LLC now owns 6,540 shares of the semiconductor company’s stock valued at $466,000 after buying an additional 160 shares in the last quarter. Bank of Montreal Can increased its position in shares of NVE by 39.4% in the fourth quarter. Bank of Montreal Can now owns 658 shares of the semiconductor company’s stock valued at $47,000 after buying an additional 186 shares in the last quarter. Citigroup Inc. increased its position in shares of NVE by 34.2% in the fourth quarter. Citigroup Inc. now owns 973 shares of the semiconductor company’s stock valued at $69,000 after buying an additional 248 shares in the last quarter. Stifel Financial Corp increased its position in shares of NVE by 2.2% in the third quarter. Stifel Financial Corp now owns 17,423 shares of the semiconductor company’s stock valued at $1,160,000 after buying an additional 382 shares in the last quarter. Finally, Great West Life Assurance Co. Can purchased a new stake in shares of NVE in the fourth quarter valued at approximately $42,000. Institutional investors and hedge funds own 70.47% of the company’s stock.

About NVE

NVE Corporation develops and sells devices that use spintronics, a nanotechnology that utilizes electron spin to acquire, store, and transmit information. The company manufactures spintronic products, including sensors and couplers for use in acquiring and transmitting data. Its products comprise standard sensors to detect the presence of a magnetic or metallic material to determine position or speed primarily for the factory automation market; and custom and medical sensors for medical devices to replace electromechanical magnetic switches.

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