Zacks: NVE Corporation (NVEC) Given Average Recommendation of “Hold” by Analysts
NVE Corporation (NASDAQ:NVEC) has been assigned a consensus broker rating score of 3.00 (Hold) from the one brokers that cover the stock, Zacks Investment Research reports. One equities research analyst has rated the stock with a hold rating.
Brokers have set a twelve-month consensus price objective of $79.00 for the company and are expecting that the company will post $0.62 earnings per share for the current quarter, according to Zacks. Zacks has also assigned NVE Corporation an industry rank of 161 out of 265 based on the ratings given to related companies.
Several equities research analysts recently weighed in on the company. Zacks Investment Research raised NVE Corporation from a “sell” rating to a “hold” rating in a report on Wednesday, July 12th. Craig Hallum lowered NVE Corporation from a “buy” rating to a “hold” rating and set a $79.00 price objective for the company. in a report on Thursday, July 20th. They noted that the move was a valuation call. Finally, BidaskClub lowered NVE Corporation from a “hold” rating to a “sell” rating in a report on Friday, July 28th.
A number of hedge funds have recently bought and sold shares of the business. Vanguard Group Inc. grew its holdings in NVE Corporation by 5.3% during the 1st quarter. Vanguard Group Inc. now owns 198,475 shares of the semiconductor company’s stock valued at $16,432,000 after buying an additional 10,041 shares in the last quarter. Renaissance Technologies LLC grew its holdings in NVE Corporation by 12.3% during the 1st quarter. Renaissance Technologies LLC now owns 107,900 shares of the semiconductor company’s stock valued at $8,933,000 after buying an additional 11,800 shares in the last quarter. Dimensional Fund Advisors LP grew its holdings in NVE Corporation by 38.4% during the 1st quarter. Dimensional Fund Advisors LP now owns 51,670 shares of the semiconductor company’s stock valued at $4,278,000 after buying an additional 14,329 shares in the last quarter. Geode Capital Management LLC grew its holdings in NVE Corporation by 11.6% during the 1st quarter. Geode Capital Management LLC now owns 40,424 shares of the semiconductor company’s stock valued at $3,346,000 after buying an additional 4,198 shares in the last quarter. Finally, UBS Group AG grew its holdings in NVE Corporation by 229.9% during the 1st quarter. UBS Group AG now owns 18,641 shares of the semiconductor company’s stock valued at $1,543,000 after buying an additional 12,991 shares in the last quarter. 71.46% of the stock is owned by institutional investors and hedge funds.
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Shares of NVE Corporation (NASDAQ:NVEC) opened at 85.58 on Tuesday. NVE Corporation has a 52-week low of $55.00 and a 52-week high of $88.34. The firm has a market capitalization of $414.29 million, a P/E ratio of 31.58 and a beta of 1.22. The stock’s 50 day moving average is $78.33 and its 200-day moving average is $78.37.
NVE Corporation (NASDAQ:NVEC) last announced its earnings results on Wednesday, October 18th. The semiconductor company reported $0.65 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.61 by $0.04. NVE Corporation had a return on equity of 14.11% and a net margin of 44.85%. The firm had revenue of $7.00 million during the quarter, compared to analyst estimates of $7.10 million. On average, equities analysts forecast that NVE Corporation will post $2.70 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Thursday, November 30th. Shareholders of record on Monday, October 30th will be issued a dividend of $1.00 per share. This represents a $4.00 dividend on an annualized basis and a yield of 4.67%. The ex-dividend date of this dividend is Friday, October 27th. NVE Corporation’s payout ratio is presently 149.81%.
NVE Corporation 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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