NVE (NVEC) Rating Lowered to Sell at BidaskClub

NVE (NASDAQ:NVEC) was downgraded by BidaskClub from a “hold” rating to a “sell” rating in a research note issued to investors on Saturday.

NVE (NASDAQ:NVEC) opened at $83.50 on Friday. NVE has a 1 year low of $64.57 and a 1 year high of $91.82. The stock has a market capitalization of $404.22, a P/E ratio of 31.27, a P/E/G ratio of 1.24 and a beta of 1.15.

NVE (NASDAQ:NVEC) last posted its quarterly earnings results on Wednesday, October 18th. The semiconductor company reported $0.65 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.61 by $0.04. NVE had a return on equity of 14.11% and a net margin of 44.85%. The business had revenue of $7.00 million for the quarter, compared to analyst estimates of $7.10 million. equities analysts forecast that NVE will post 2.7 EPS for the current year.

In related news, Director Terrence Glarner sold 1,000 shares of the firm’s stock in a transaction that occurred on Tuesday, November 28th. The stock was sold at an average price of $85.89, for a total transaction of $85,890.00. Following the transaction, the director now directly owns 3,200 shares in the company, valued at approximately $274,848. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CFO Curt A. Reynders sold 1,228 shares of the firm’s stock in a transaction that occurred on Thursday, November 16th. The stock was sold at an average price of $88.47, for a total value of $108,641.16. The disclosure for this sale can be found here. 2.30% of the stock is owned by company insiders.

A number of institutional investors and hedge funds have recently bought and sold shares of NVEC. Parametric Portfolio Associates LLC bought a new position in NVE during the 1st quarter worth approximately $305,000. California Public Employees Retirement System grew its position in shares of NVE by 1.9% in the 1st quarter. California Public Employees Retirement System now owns 16,100 shares of the semiconductor company’s stock worth $1,333,000 after buying an additional 300 shares during the last quarter. Vanguard Group Inc. grew its position in shares of NVE by 5.3% in the 1st quarter. Vanguard Group Inc. now owns 198,475 shares of the semiconductor company’s stock worth $16,432,000 after buying an additional 10,041 shares during the last quarter. Geode Capital Management LLC grew its position in shares of NVE by 11.6% in the 1st quarter. Geode Capital Management LLC now owns 40,424 shares of the semiconductor company’s stock worth $3,346,000 after buying an additional 4,198 shares during the last quarter. Finally, Dimensional Fund Advisors LP grew its position in shares of NVE by 38.4% in the 1st quarter. Dimensional Fund Advisors LP now owns 51,670 shares of the semiconductor company’s stock worth $4,278,000 after buying an additional 14,329 shares during the last quarter. Institutional investors and hedge funds own 73.37% of the company’s stock.

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NVE Company Profile

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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