NVE (NVEC) Rating Lowered to Hold at ValuEngine

ValuEngine downgraded shares of NVE (NASDAQ:NVEC) from a buy rating to a hold rating in a research report report published on Monday.

Separately, BidaskClub lowered shares of NVE from a strong-buy rating to a buy rating in a research note on Tuesday, July 17th.

Shares of NVEC stock opened at $94.86 on Monday. The stock has a market cap of $512.67 million, a price-to-earnings ratio of 32.60 and a beta of 1.09. NVE has a 1-year low of $68.50 and a 1-year high of $135.00.

NVE (NASDAQ:NVEC) last announced its earnings results on Wednesday, July 18th. The semiconductor company reported $0.81 earnings per share for the quarter. The company had revenue of $7.11 million during the quarter. NVE had a net margin of 49.58% and a return on equity of 16.90%.

In other news, CFO Curt A. Reynders sold 271 shares of the stock in a transaction dated Wednesday, August 22nd. The shares were sold at an average price of $119.63, for a total transaction of $32,419.73. Following the sale, the chief financial officer now owns 8,729 shares of the company’s stock, valued at $1,044,250.27. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Curt A. Reynders sold 1,154 shares of the stock in a transaction dated Wednesday, August 29th. The stock was sold at an average price of $118.71, for a total transaction of $136,991.34. Following the sale, the chief financial officer now directly owns 7,575 shares in the company, valued at approximately $899,228.25. The disclosure for this sale can be found here. Insiders have sold 3,425 shares of company stock worth $399,411 in the last three months. Corporate insiders own 2.40% of the company’s stock.

Several institutional investors and hedge funds have recently modified their holdings of NVEC. Cornerstone Wealth Management LLC acquired a new stake in shares of NVE during the second quarter worth about $100,000. Sei Investments Co. acquired a new stake in shares of NVE during the second quarter worth about $183,000. BB&T Corp acquired a new stake in shares of NVE during the second quarter worth about $203,000. Nisa Investment Advisors LLC lifted its position in shares of NVE by 2,100.0% during the second quarter. Nisa Investment Advisors LLC now owns 2,200 shares of the semiconductor company’s stock worth $268,000 after purchasing an additional 2,100 shares in the last quarter. Finally, Port Capital LLC acquired a new stake in shares of NVE during the second quarter worth about $332,000. 75.89% of the stock is currently owned by institutional investors and hedge funds.

NVE Company Profile

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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