NVE Corporation (NASDAQ:NVEC) Receives Average Rating of “” from Brokerages
NVE Corporation (NASDAQ:NVEC) has received a consensus broker rating score of 3.00 (Hold) from the one analysts that cover the stock, Zacks Investment Research reports. One equities research analyst has rated the stock with a hold rating. NVE Corporation’s rating score has declined by 200% in the last three months as a result of a number of analysts’ upgrades and downgrades.
Analysts have set a one year consensus target price of $79.00 for the company and are forecasting that the company will post $0.61 earnings per share for the current quarter, according to Zacks. Zacks has also given NVE Corporation an industry rank of 85 out of 265 based on the ratings given to related companies.
Several research analysts recently weighed in on NVEC shares. Zacks Investment Research lowered NVE Corporation from a “hold” rating to a “sell” rating in a research report on Friday, May 12th. Craig Hallum lowered NVE Corporation from a “buy” rating to a “hold” rating and set a $79.00 target price on the stock. in a research report on Thursday, July 20th. They noted that the move was a valuation call. Finally, BidaskClub lowered NVE Corporation from a “hold” rating to a “sell” rating in a research report on Friday, July 28th.
In related news, Director Terrence Glarner sold 1,000 shares of the stock in a transaction that occurred on Monday, May 22nd. The stock was sold at an average price of $79.04, for a total transaction of $79,040.00. Following the completion of the sale, the director now owns 2,200 shares in the company, valued at approximately $173,888. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Corporate insiders own 2.30% of the company’s stock.
A number of hedge funds have recently made changes to their positions in NVEC. Teachers Advisors LLC increased its stake in shares of NVE Corporation by 0.4% in the fourth quarter. Teachers Advisors LLC now owns 7,604 shares of the semiconductor company’s stock worth $543,000 after buying an additional 27 shares in the last quarter. Isthmus Partners LLC increased its stake in shares of NVE Corporation by 0.9% in the first quarter. Isthmus Partners LLC now owns 10,741 shares of the semiconductor company’s stock worth $889,000 after buying an additional 95 shares in the last quarter. Eqis Capital Management Inc. increased its stake in shares of NVE Corporation by 3.1% in the first quarter. Eqis Capital Management Inc. now owns 3,295 shares of the semiconductor company’s stock worth $273,000 after buying an additional 100 shares in the last quarter. Metropolitan Life Insurance Co. NY increased its stake in shares of NVE Corporation by 3.1% in the first quarter. Metropolitan Life Insurance Co. NY now owns 3,503 shares of the semiconductor company’s stock worth $290,000 after buying an additional 105 shares in the last quarter. Finally, American International Group Inc. increased its stake in shares of NVE Corporation by 6.9% in the first quarter. American International Group Inc. now owns 2,937 shares of the semiconductor company’s stock worth $243,000 after buying an additional 190 shares in the last quarter. Hedge funds and other institutional investors own 72.29% of the company’s stock.
NVE Corporation (NVEC) traded up 3.48% on Monday, reaching $75.19. 14,921 shares of the company’s stock were exchanged. The stock has a market cap of $363.99 million, a price-to-earnings ratio of 27.75 and a beta of 1.21. NVE Corporation has a one year low of $55.00 and a one year high of $88.34. The firm has a 50 day moving average of $77.79 and a 200-day moving average of $79.18.
NVE Corporation (NASDAQ:NVEC) last announced its earnings results on Wednesday, July 19th. The semiconductor company reported $0.68 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.66 by $0.02. The company had revenue of $7.61 million for the quarter. NVE Corporation had a return on equity of 14.02% and a net margin of 44.87%. Equities research analysts forecast that NVE Corporation will post $2.72 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Thursday, August 31st. Stockholders of record on Monday, July 31st will be paid a dividend of $1.00 per share. The ex-dividend date of this dividend is Thursday, July 27th. This represents a $4.00 annualized dividend and a dividend yield of 5.32%. NVE Corporation’s dividend payout ratio (DPR) is presently 148.15%.
About NVE Corporation
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).
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for NVE Corporation Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for NVE Corporation and related companies with Analyst Ratings Network's FREE daily email newsletter.