BidaskClub Downgrades NVE (NASDAQ:NVEC) to Strong Sell

NVE (NASDAQ:NVEC) was downgraded by BidaskClub from a “sell” rating to a “strong sell” rating in a note issued to investors on Thursday, BidAskClub reports.

Separately, ValuEngine cut NVE from a “buy” rating to a “hold” rating in a research report on Tuesday, April 14th.

NVEC traded up $0.84 during trading on Thursday, reaching $56.80. 17,953 shares of the stock traded hands, compared to its average volume of 23,901. The stock has a market cap of $270.57 million, a price-to-earnings ratio of 18.72 and a beta of 1.38. NVE has a fifty-two week low of $42.85 and a fifty-two week high of $76.40. The company has a debt-to-equity ratio of 0.01, a current ratio of 43.20 and a quick ratio of 38.32. The stock’s 50-day simple moving average is $54.00 and its two-hundred day simple moving average is $62.78.

Several large investors have recently made changes to their positions in NVEC. State Street Corp lifted its position in shares of NVE by 3.2% in the third quarter. State Street Corp now owns 107,813 shares of the semiconductor company’s stock worth $7,153,000 after buying an additional 3,366 shares during the last quarter. Nisa Investment Advisors LLC lifted its position in shares of NVE by 2,600.0% in the fourth quarter. Nisa Investment Advisors LLC now owns 1,350 shares of the semiconductor company’s stock worth $96,000 after buying an additional 1,300 shares during the last quarter. Bridge City Capital LLC lifted its position in shares of NVE by 21.8% in the fourth quarter. Bridge City Capital LLC now owns 18,577 shares of the semiconductor company’s stock worth $1,326,000 after buying an additional 3,321 shares during the last quarter. Russell Investments Group Ltd. lifted its position in shares of NVE by 20.7% in the fourth quarter. Russell Investments Group Ltd. now owns 89,135 shares of the semiconductor company’s stock worth $6,364,000 after buying an additional 15,270 shares during the last quarter. Finally, Denali Advisors LLC lifted its position in shares of NVE by 236.5% in the fourth quarter. Denali Advisors LLC now owns 8,831 shares of the semiconductor company’s stock worth $631,000 after buying an additional 6,207 shares during the last quarter. 70.87% of the stock is owned by institutional investors.

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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