Craig Hallum cut shares of NVE Corporation (NASDAQ:NVEC) from a buy rating to a hold rating in a research note issued to investors on Thursday, July 20th. The brokerage currently has $79.00 price target on the semiconductor company’s stock. Craig Hallum also issued estimates for NVE Corporation’s Q2 2018 earnings at $0.61 EPS and FY2019 earnings at $2.80 EPS. The analysts noted that the move was a valuation call.
Separately, Zacks Investment Research lowered NVE Corporation from a strong-buy rating to a hold rating in a research note on Wednesday, March 22nd.
Shares of NVE Corporation (NASDAQ NVEC) opened at 75.50 on Thursday. NVE Corporation has a 12-month low of $55.00 and a 12-month high of $88.34. The stock’s 50 day moving average price is $78.62 and its 200 day moving average price is $79.22. The firm has a market capitalization of $365.50 million, a price-to-earnings ratio of 27.86 and a beta of 1.21.
NVE Corporation (NASDAQ:NVEC) last released its quarterly earnings data on Wednesday, July 19th. The semiconductor company reported $0.68 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.66 by $0.02. NVE Corporation had a return on equity of 14.02% and a net margin of 44.87%. The company had revenue of $7.61 million for the quarter. Equities research analysts expect that NVE Corporation will post $2.72 earnings per share for the current year.
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The firm also recently announced a quarterly dividend, which will be paid on Thursday, August 31st. Shareholders of record on Monday, July 31st will be paid a $1.00 dividend. The ex-dividend date is Thursday, July 27th. This represents a $4.00 dividend on an annualized basis and a yield of 5.30%. NVE Corporation’s dividend payout ratio is currently 148.15%.
In other NVE Corporation news, Director Terrence Glarner sold 1,000 shares of the company’s stock in a transaction dated Monday, May 22nd. The stock was sold at an average price of $79.04, for a total value of $79,040.00. Following the transaction, the director now directly owns 2,200 shares in the company, valued at approximately $173,888. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 2.30% of the stock is owned by corporate insiders.
A number of institutional investors have recently made changes to their positions in the company. Russell Investments Group Ltd. acquired a new position in shares of NVE Corporation during the fourth quarter worth $218,000. Teachers Advisors LLC raised its position in shares of NVE Corporation by 0.4% in the fourth quarter. Teachers Advisors LLC now owns 7,604 shares of the semiconductor company’s stock worth $543,000 after buying an additional 27 shares in the last quarter. Legato Capital Management LLC raised its position in shares of NVE Corporation by 8,179.0% in the first quarter. Legato Capital Management LLC now owns 41,395 shares of the semiconductor company’s stock worth $500,000 after buying an additional 40,895 shares in the last quarter. Granite Investment Partners LLC acquired a new position in shares of NVE Corporation during the first quarter worth $476,000. Finally, Wells Fargo & Company MN raised its position in shares of NVE Corporation by 36.2% in the first quarter. Wells Fargo & Company MN now owns 88,762 shares of the semiconductor company’s stock worth $7,348,000 after buying an additional 23,613 shares in the last quarter. Institutional investors and hedge funds own 71.85% of the company’s stock.
About NVE Corporation
NVE Corporation develops and sells devices that use spintronics, a nanotechnology that relies on electron spin to acquire, store and transmit information. The Company manufactures spintronic products, including sensors and couplers that are used to acquire and transmit data. The Company has also licensed its spintronic magnetoresistive random access memory technology (MRAM).
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