Shares of NVE Corporation (NASDAQ:NVEC) have received an average broker rating score of 3.00 (Hold) from the one brokers that provide coverage for the company, Zacks Investment Research reports. One equities research analyst has rated the stock with a hold recommendation.
Brokers have set a twelve-month consensus price target of $79.00 for the company and are forecasting that the company will post $0.63 earnings per share for the current quarter, according to Zacks. Zacks has also given NVE Corporation an industry rank of 99 out of 265 based on the ratings given to its competitors.
NVEC has been the topic of several recent research reports. Zacks Investment Research raised shares of NVE Corporation from a “sell” rating to a “hold” rating in a research report on Wednesday, July 12th. Craig Hallum lowered shares of NVE Corporation from a “buy” rating to a “hold” rating and set a $79.00 price objective on the stock. in a research report on Thursday, July 20th. They noted that the move was a valuation call. Finally, BidaskClub lowered shares of NVE Corporation from a “hold” rating to a “sell” rating in a research report on Friday, July 28th.
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A number of institutional investors and hedge funds have recently modified their holdings of the stock. Parametric Portfolio Associates LLC raised its position in NVE Corporation by 10.9% during the second quarter. Parametric Portfolio Associates LLC now owns 4,087 shares of the semiconductor company’s stock valued at $315,000 after acquiring an additional 403 shares in the last quarter. Schroder Investment Management Group bought a new position in NVE Corporation during the second quarter valued at approximately $638,000. Neuberger Berman Group LLC raised its position in NVE Corporation by 3.2% during the second quarter. Neuberger Berman Group LLC now owns 16,107 shares of the semiconductor company’s stock valued at $1,240,000 after acquiring an additional 506 shares in the last quarter. Bridge City Capital LLC bought a new position in NVE Corporation during the second quarter valued at approximately $769,000. Finally, Wedge Capital Management L L P NC raised its position in NVE Corporation by 90.2% during the second quarter. Wedge Capital Management L L P NC now owns 12,200 shares of the semiconductor company’s stock valued at $939,000 after acquiring an additional 5,785 shares in the last quarter. 71.46% of the stock is currently owned by hedge funds and other institutional investors.
Shares of NVE Corporation (NASDAQ:NVEC) traded up 0.45% during trading on Tuesday, reaching $83.40. 18,319 shares of the company traded hands. The firm has a 50-day moving average price of $78.75 and a 200-day moving average price of $78.44. NVE Corporation has a 12 month low of $55.00 and a 12 month high of $88.34. The firm has a market capitalization of $403.74 million, a PE ratio of 30.77 and a beta of 1.22.
NVE Corporation (NASDAQ:NVEC) last posted its quarterly earnings results on Wednesday, October 18th. The semiconductor company reported $0.65 EPS for the quarter, topping the consensus estimate of $0.61 by $0.04. The business had revenue of $7.00 million during the quarter, compared to analysts’ expectations of $7.10 million. NVE Corporation had a net margin of 44.85% and a return on equity of 14.11%. Equities research analysts anticipate that NVE Corporation will post $2.70 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, November 30th. Investors of record on Monday, October 30th will be given a dividend of $1.00 per share. This represents a $4.00 annualized dividend and a yield of 4.76%. The ex-dividend date is Friday, October 27th. NVE Corporation’s payout ratio is presently 149.81%.
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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