NVE (NASDAQ:NVEC) was upgraded by BidaskClub from a “buy” rating to a “strong-buy” rating in a research note issued to investors on Monday, May 14th.
NASDAQ NVEC traded up $0.08 on Monday, hitting $102.69. The stock had a trading volume of 5,600 shares, compared to its average volume of 15,396. NVE has a 52-week low of $68.50 and a 52-week high of $105.50. The firm has a market capitalization of $496.84 million, a P/E ratio of 35.29 and a beta of 1.09.
NVE (NASDAQ:NVEC) last announced its quarterly earnings data on Wednesday, May 2nd. The semiconductor company reported $0.80 earnings per share for the quarter. The firm had revenue of $7.90 million for the quarter. NVE had a net margin of 46.59% and a return on equity of 15.90%.
Institutional investors and hedge funds have recently made changes to their positions in the company. Stone Ridge Asset Management LLC purchased a new stake in NVE in the fourth quarter valued at $202,000. MetLife Investment Advisors LLC acquired a new position in shares of NVE in the fourth quarter worth about $224,000. M&T Bank Corp acquired a new position in shares of NVE in the first quarter worth about $305,000. UBS Asset Management Americas Inc. raised its position in shares of NVE by 73.4% in the fourth quarter. UBS Asset Management Americas Inc. now owns 5,485 shares of the semiconductor company’s stock worth $472,000 after acquiring an additional 2,321 shares during the period. Finally, Comerica Bank raised its position in shares of NVE by 115.4% in the fourth quarter. Comerica Bank now owns 5,997 shares of the semiconductor company’s stock worth $526,000 after acquiring an additional 3,213 shares during the period. 75.23% of the stock is currently owned by hedge funds and other institutional investors.
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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