NVE Corp. (NVEC) Receives Average Rating of “Strong Buy” from Brokerages
Shares of NVE Corp. (NASDAQ:NVEC) have been given a consensus broker rating score of 1.00 (Strong Buy) from the one brokers that provide coverage for the company, Zacks Investment Research reports. One analyst has rated the stock with a strong buy rating.
Analysts have set a one year consensus price objective of $66.00 for the company and are predicting 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 31 out of 265 based on the ratings given to its competitors.
Separately, Zacks Investment Research cut shares of NVE Corp. from a “hold” rating to a “sell” rating in a research report on Saturday, July 23rd.
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Shares of NVE Corp. (NASDAQ:NVEC) traded down 0.9694% during mid-day trading on Tuesday, reaching $58.2201. 1,564 shares of the company were exchanged. NVE Corp. has a 12 month low of $45.47 and a 12 month high of $62.93. The firm has a market capitalization of $281.49 million, a price-to-earnings ratio of 24.2685 and a beta of 0.59. The company’s 50-day moving average is $58.58 and its 200 day moving average is $57.53.
NVE Corp. (NASDAQ:NVEC) last announced its quarterly earnings results on Wednesday, July 20th. The company reported $0.65 earnings per share for the quarter, beating analysts’ consensus estimates of $0.54 by $0.11. The firm had revenue of $6.71 million for the quarter, compared to analysts’ expectations of $6.40 million. NVE Corp. had a net margin of 44.52% and a return on equity of 11.54%. Analysts predict that NVE Corp. will post $2.16 EPS for the current year.
In other news, Director Terrence Glarner sold 1,000 shares of the business’s stock in a transaction on Thursday, August 11th. The shares were sold at an average price of $57.86, for a total transaction of $57,860.00. Following the transaction, the director now directly owns 4,200 shares of the company’s stock, valued at $243,012. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Insiders own 2.40% of the company’s stock.
Several hedge funds and other institutional investors have recently bought and sold shares of NVEC. Vanguard Group Inc. boosted its position in NVE Corp. by 12.9% in the second quarter. Vanguard Group Inc. now owns 179,474 shares of the company’s stock worth $10,526,000 after buying an additional 20,438 shares during the last quarter. Kayne Anderson Rudnick Investment Management LLC raised its stake in shares of NVE Corp. by 2.7% in the second quarter. Kayne Anderson Rudnick Investment Management LLC now owns 460,385 shares of the company’s stock worth $27,002,000 after buying an additional 12,009 shares during the period. Conestoga Capital Advisors LLC raised its stake in shares of NVE Corp. by 3.9% in the third quarter. Conestoga Capital Advisors LLC now owns 277,316 shares of the company’s stock worth $16,345,000 after buying an additional 10,289 shares during the period. Emerald Acquisition Ltd. bought a new stake in shares of NVE Corp. during the second quarter worth about $360,000. Finally, Guggenheim Capital LLC raised its stake 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. 73.25% of the stock is currently owned by institutional investors and hedge funds.
NVE Corp. Company Profile
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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