NVE (NVEC) Upgraded at BidaskClub

BidaskClub upgraded shares of NVE (NASDAQ:NVEC) from a hold rating to a buy rating in a report issued on Friday morning.

Separately, ValuEngine upgraded NVE from a hold rating to a buy rating in a research report on Friday, June 1st.

NASDAQ:NVEC opened at $116.71 on Friday. NVE has a 1-year low of $68.50 and a 1-year high of $135.00. The stock has a market cap of $565.11 million, a PE ratio of 40.11 and a beta of 1.05.

NVE (NASDAQ:NVEC) last released its quarterly earnings results on Wednesday, July 18th. The semiconductor company reported $0.81 earnings per share for the quarter. NVE had a return on equity of 16.90% and a net margin of 49.58%. The company had revenue of $7.11 million for the quarter.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, August 31st. Shareholders of record on Monday, July 30th will be paid a dividend of $1.00 per share. This represents a $4.00 dividend on an annualized basis and a yield of 3.43%. The ex-dividend date of this dividend is Friday, July 27th. NVE’s payout ratio is 137.46%.

A number of large investors have recently made changes to their positions in the business. Kayne Anderson Rudnick Investment Management LLC raised its stake in NVE by 1.3% during the first quarter. Kayne Anderson Rudnick Investment Management LLC now owns 741,605 shares of the semiconductor company’s stock valued at $61,635,000 after buying an additional 9,645 shares during the last quarter. Conestoga Capital Advisors LLC raised its stake in NVE by 8.1% during the second quarter. Conestoga Capital Advisors LLC now owns 381,922 shares of the semiconductor company’s stock valued at $46,510,000 after buying an additional 28,558 shares during the last quarter. BlackRock Inc. raised its stake in NVE by 5.9% during the second quarter. BlackRock Inc. now owns 346,334 shares of the semiconductor company’s stock valued at $42,177,000 after buying an additional 19,206 shares during the last quarter. Wells Fargo & Company MN raised its stake in NVE by 14.6% during the second quarter. Wells Fargo & Company MN now owns 133,835 shares of the semiconductor company’s stock valued at $16,298,000 after buying an additional 17,063 shares during the last quarter. Finally, Dimensional Fund Advisors LP raised its stake in NVE by 13.6% during the second quarter. Dimensional Fund Advisors LP now owns 108,766 shares of the semiconductor company’s stock valued at $13,246,000 after buying an additional 13,040 shares during the last quarter. Institutional investors and hedge funds own 75.84% of the company’s stock.

NVE Company Profile

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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