NVE (NVEC) Downgraded by BidaskClub

NVE (NASDAQ:NVEC) was downgraded by BidaskClub from a “sell” rating to a “strong sell” rating in a report released on Thursday.

Separately, ValuEngine downgraded shares of NVE from a “buy” rating to a “hold” rating in a research note on Monday, October 8th.

Shares of NVE stock traded down $0.26 during trading hours on Thursday, reaching $87.25. 7,972 shares of the company were exchanged, compared to its average volume of 22,669. NVE has a 1 year low of $68.50 and a 1 year high of $135.00. The firm has a market capitalization of $421.77 million, a P/E ratio of 29.98 and a beta of 1.29.

NVE (NASDAQ:NVEC) last posted its quarterly earnings data on Monday, October 15th. The semiconductor company reported $0.88 earnings per share for the quarter. The business had revenue of $7.51 million for the quarter. NVE had a return on equity of 18.42% and a net margin of 52.49%.

In related news, CFO Curt A. Reynders sold 1,154 shares of the business’s stock in a transaction on Wednesday, August 29th. The shares were sold at an average price of $118.71, for a total transaction of $136,991.34. Following the completion of the transaction, the chief financial officer now owns 7,575 shares in the company, valued at $899,228.25. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director Terrence Glarner sold 2,000 shares of the business’s stock in a transaction on Wednesday, August 15th. The stock was sold at an average price of $115.00, for a total transaction of $230,000.00. Following the transaction, the director now owns 3,200 shares of the company’s stock, valued at approximately $368,000. The disclosure for this sale can be found here. In the last quarter, insiders have sold 3,425 shares of company stock valued at $399,411. Insiders own 2.40% of the company’s stock.

Hedge funds have recently modified their holdings of the stock. Sei Investments Co. acquired a new position in shares of NVE during the second quarter worth $183,000. BB&T Corp acquired a new position in shares of NVE during the second quarter worth $203,000. Nisa Investment Advisors LLC grew its stake 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. Port Capital LLC acquired a new position in shares of NVE during the second quarter worth $332,000. Finally, Atria Investments LLC grew its stake in shares of NVE by 28.9% during the second quarter. Atria Investments LLC now owns 3,748 shares of the semiconductor company’s stock worth $456,000 after purchasing an additional 841 shares in the last quarter. Hedge funds and other institutional investors own 77.03% of the company’s stock.

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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