NVE (NVEC) Downgraded to Sell at BidaskClub

NVE (NASDAQ:NVEC) was downgraded by analysts at BidaskClub from a “hold” rating to a “sell” rating in a research report issued on Saturday.

Shares of NVE (NASDAQ NVEC) traded down $0.12 on Friday, reaching $83.50. The company’s stock had a trading volume of 18,267 shares, compared to its average volume of 21,455. The company has a market cap of $404.80, a price-to-earnings ratio of 31.32, a price-to-earnings-growth ratio of 1.24 and a beta of 1.15. NVE has a 52-week low of $64.57 and a 52-week high of $91.82.

NVE (NASDAQ:NVEC) last announced its quarterly earnings data on Wednesday, October 18th. The semiconductor company reported $0.65 EPS for the quarter, beating the Zacks’ consensus estimate of $0.61 by $0.04. NVE had a return on equity of 14.11% and a net margin of 44.85%. The firm had revenue of $7.00 million for the quarter, compared to analyst estimates of $7.10 million. equities analysts predict that NVE will post 2.7 earnings per share for the current year.

In other news, Director Terrence Glarner sold 1,000 shares of the firm’s stock in a transaction on Tuesday, November 28th. The stock was sold at an average price of $85.89, for a total value of $85,890.00. Following the transaction, the director now directly owns 3,200 shares in the company, valued at approximately $274,848. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Curt A. Reynders sold 1,228 shares of the firm’s stock in a transaction on Thursday, November 16th. The stock was sold at an average price of $88.47, for a total value of $108,641.16. The disclosure for this sale can be found here. 2.30% of the stock is owned by company insiders.

A number of institutional investors have recently modified their holdings of NVEC. Bank of America Corp DE raised its stake in NVE by 110.0% during the 1st quarter. Bank of America Corp DE now owns 1,380 shares of the semiconductor company’s stock worth $114,000 after buying an additional 723 shares during the period. Aperio Group LLC acquired a new stake in shares of NVE in the 2nd quarter valued at about $212,000. Zeke Capital Advisors LLC acquired a new stake in shares of NVE in the 3rd quarter valued at about $235,000. Goldman Sachs Group Inc. acquired a new stake in shares of NVE in the 1st quarter valued at about $238,000. Finally, Metropolitan Life Insurance Co. NY raised its stake in shares of NVE by 3.1% in the 1st quarter. Metropolitan Life Insurance Co. NY now owns 3,503 shares of the semiconductor company’s stock valued at $290,000 after purchasing an additional 105 shares during the period. 73.37% of the stock is currently owned by institutional investors and hedge funds.

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NVE 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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