BidaskClub Lowers NVE (NVEC) to Sell

BidaskClub lowered shares of NVE (NASDAQ:NVEC) from a hold rating to a sell rating in a research report report published on Saturday, December 2nd.

Shares of NVE (NVEC) opened at $82.22 on Friday. The company has a market cap of $397.01, a price-to-earnings ratio of 30.72, a P/E/G ratio of 1.21 and a beta of 1.15. NVE has a 12-month low of $69.19 and a 12-month high of $91.82.

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

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, November 30th. Investors of record on Monday, October 30th were paid a $1.00 dividend. The ex-dividend date was Friday, October 27th. This represents a $4.00 dividend on an annualized basis and a yield of 4.86%. NVE’s payout ratio is 149.81%.

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

A number of hedge funds and other institutional investors have recently bought and sold shares of NVEC. Zeke Capital Advisors LLC bought a new stake in shares of NVE in the third quarter worth $235,000. Wedge Capital Management L L P NC boosted its holdings in NVE by 43.4% in the third quarter. Wedge Capital Management L L P NC now owns 17,500 shares of the semiconductor company’s stock worth $1,382,000 after purchasing an additional 5,300 shares during the period. Bridge City Capital LLC boosted its holdings in NVE by 8.7% in the third quarter. Bridge City Capital LLC now owns 10,852 shares of the semiconductor company’s stock worth $857,000 after purchasing an additional 867 shares during the period. Parametric Portfolio Associates LLC boosted its holdings in NVE by 10.9% in the second quarter. Parametric Portfolio Associates LLC now owns 4,087 shares of the semiconductor company’s stock worth $315,000 after purchasing an additional 403 shares during the period. Finally, Schroder Investment Management Group acquired a new position in NVE in the second quarter worth $638,000. Hedge funds and other institutional investors 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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