BidaskClub lowered shares of NVE Corporation (NASDAQ:NVEC) from a hold rating to a sell rating in a report released on Friday.

Several other research analysts have also recently commented on the company. Craig Hallum cut NVE Corporation from a buy rating to a hold rating and set a $79.00 target price for the company. in a research note on Thursday, July 20th. They noted that the move was a valuation call. Zacks Investment Research raised NVE Corporation from a sell rating to a hold rating in a research note on Wednesday, July 12th.

Shares of NVE Corporation (NASDAQ NVEC) traded down 0.5901% during midday trading on Friday, reaching $78.4145. The company had a trading volume of 1,198 shares. The company’s 50 day moving average price is $78.74 and its 200-day moving average price is $79.18. The company has a market capitalization of $379.60 million, a P/E ratio of 28.9352 and a beta of 1.21. NVE Corporation has a 52 week low of $55.00 and a 52 week high of $88.34.

NVE Corporation (NASDAQ:NVEC) last released its earnings results on Wednesday, July 19th. The semiconductor company reported $0.68 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.66 by $0.02. NVE Corporation had a return on equity of 14.02% and a net margin of 44.87%. The firm had revenue of $7.61 million during the quarter. On average, equities research analysts predict that NVE Corporation will post $2.72 earnings per share for the current fiscal year.

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The business also recently announced a quarterly dividend, which will be paid on Thursday, August 31st. Investors 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 yield of 5.07%. NVE Corporation’s payout ratio is 148.15%.

In related news, Director Terrence Glarner sold 1,000 shares of the business’s stock in a transaction 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 transaction, the director now directly owns 2,200 shares of the company’s stock, valued at approximately $173,888. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 2.30% of the company’s stock.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in NVEC. Kayne Anderson Rudnick Investment Management LLC boosted its position in NVE Corporation by 9.7% in the first quarter. Kayne Anderson Rudnick Investment Management LLC now owns 608,599 shares of the semiconductor company’s stock valued at $50,386,000 after buying an additional 53,964 shares in the last quarter. Legato Capital Management LLC boosted its position in NVE Corporation by 8,179.0% in the first quarter. Legato Capital Management LLC now owns 41,395 shares of the semiconductor company’s stock valued at $500,000 after buying an additional 40,895 shares in the last quarter. Wells Fargo & Company MN boosted its position in NVE Corporation by 36.2% in the first quarter. Wells Fargo & Company MN now owns 88,762 shares of the semiconductor company’s stock valued at $7,348,000 after buying an additional 23,613 shares in the last quarter. Oxford Asset Management acquired a new position in NVE Corporation during the first quarter valued at about $1,491,000. Finally, Dimensional Fund Advisors LP boosted its position in NVE Corporation by 38.4% in the first quarter. Dimensional Fund Advisors LP now owns 51,670 shares of the semiconductor company’s stock valued at $4,278,000 after buying an additional 14,329 shares in the last quarter. 71.75% of the stock is owned by institutional investors and hedge funds.

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).

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