Zacks: Analysts Set $66.00 Target Price for NVE Corp. (NASDAQ:NVEC)
NVE Corp. (NASDAQ:NVEC) has earned an average broker rating score of 1.00 (Strong Buy) from the one analysts that provide coverage for the company, Zacks Investment Research reports. One research analyst has rated the stock with a strong buy recommendation.
Brokerages have set a one year consensus price objective of $66.00 for the company and are anticipating that the company will post $0.56 earnings per share for the current quarter, according to Zacks. Zacks has also given NVE Corp. an industry rank of 20 out of 265 based on the ratings given to related companies.
Separately, Zacks Investment Research downgraded shares of NVE Corp. from a “hold” rating to a “sell” rating in a report on Saturday, July 23rd.
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NVE Corp. (NASDAQ:NVEC) traded up 0.31% during trading on Wednesday, reaching $59.00. 2,794 shares of the company’s stock traded hands. NVE Corp. has a 1-year low of $45.47 and a 1-year high of $62.93. The firm has a 50 day moving average of $58.28 and a 200 day moving average of $57.14. The firm has a market capitalization of $285.27 million, a PE ratio of 24.59 and a beta of 0.64.
NVE Corp. (NASDAQ:NVEC) last issued its quarterly earnings results on Wednesday, July 20th. The company reported $0.65 EPS for the quarter, topping analysts’ consensus estimates of $0.54 by $0.11. The business earned $6.71 million during the quarter, compared to the consensus estimate of $6.40 million. NVE Corp. had a net margin of 44.52% and a return on equity of 11.54%. Equities analysts forecast that NVE Corp. will post $2.16 EPS for the current year.
The company also recently declared a dividend, which was paid on Wednesday, August 31st. Stockholders of record on Monday, August 1st were issued a dividend of $1.00 per share. The ex-dividend date of this dividend was Thursday, July 28th. NVE Corp.’s dividend payout ratio (DPR) is presently 166.67%.
In related news, Director Terrence Glarner sold 1,000 shares of the business’s stock in a transaction that occurred on Thursday, August 11th. The shares were sold at an average price of $57.86, for a total value of $57,860.00. Following the completion of the sale, the director now directly owns 4,200 shares in the company, valued at $243,012. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. 2.40% of the stock is currently owned by corporate insiders.
A number of large investors have recently added to or reduced their stakes in NVEC. BlackRock Advisors LLC increased its stake in NVE Corp. by 0.6% in the second quarter. BlackRock Advisors LLC now owns 2,376 shares of the company’s stock worth $139,000 after buying an additional 14 shares during the last quarter. Paradigm Asset Management Co. LLC boosted its position in shares of NVE Corp. by 2.1% in the second quarter. Paradigm Asset Management Co. LLC now owns 4,853 shares of the company’s stock worth $285,000 after buying an additional 100 shares during the period. Emerald Acquisition Ltd. acquired a new position in shares of NVE Corp. during the second quarter worth $360,000. Guggenheim Capital LLC boosted its position in shares of NVE Corp. by 68.3% in the second quarter. Guggenheim Capital LLC now owns 7,942 shares of the company’s stock worth $466,000 after buying an additional 3,222 shares during the period. Finally, Swiss National Bank boosted its position in shares of NVE Corp. by 10.4% in the second quarter. Swiss National Bank now owns 8,500 shares of the company’s stock worth $499,000 after buying an additional 800 shares during the period. Hedge funds and other institutional investors own 73.25% of the company’s stock.
NVE Corp. Company Profile
NVE Corporation develops and sells devices that use spintronics, a nanotechnology that relies on electron spin rather than electron charge to acquire, store and transmit information. The Company manufactures spintronic products, including sensors and couplers that are used to acquire and transmit data.
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