NVE Corporation (NVEC) Releases Earnings Results, Beats Estimates By $0.04 EPS
NVE Corporation (NASDAQ:NVEC) issued its quarterly earnings results on Wednesday. The semiconductor company reported $0.65 earnings per share for the quarter, beating analysts’ consensus estimates of $0.61 by $0.04, MarketWatch Earnings reports. NVE Corporation had a return on equity of 14.02% and a net margin of 44.87%.
NVE Corporation (NASDAQ NVEC) traded up 0.58% during mid-day trading on Wednesday, reaching $80.00. The company had a trading volume of 34,480 shares. The stock has a market cap of $387.28 million, a PE ratio of 29.52 and a beta of 1.22. NVE Corporation has a 12 month low of $55.00 and a 12 month high of $88.34. The firm’s 50-day moving average price is $77.55 and its 200-day moving average price is $78.30.
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A number of analysts recently issued reports on the company. BidaskClub cut NVE Corporation from a “hold” rating to a “sell” rating in a research report on Friday, July 28th. Craig Hallum cut NVE Corporation from a “buy” rating to a “hold” rating and set a $79.00 price objective for the company. in a research report on Thursday, July 20th. They noted that the move was a valuation call. Finally, Zacks Investment Research raised NVE Corporation from a “sell” rating to a “hold” rating in a research report on Wednesday, July 12th.
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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