NVE (NASDAQ:NVEC) Reaches New 52-Week High After Dividend Announcement

NVE Corporation (NASDAQ:NVEC)’s stock price hit a new 52-week high during mid-day trading on Thursday after the company announced a dividend. The company traded as high as $128.11 and last traded at $126.7430, with a volume of 79387 shares traded. The stock had previously closed at $86.68.

The newly announced dividend which will be paid on Monday, August 31st. Stockholders of record on Monday, August 3rd will be paid a $1.00 dividend. This represents a $4.00 dividend on an annualized basis and a dividend yield of 3.4%. The ex-dividend date of this dividend is Monday, August 3rd. NVE’s dividend payout ratio (DPR) is currently 127.39%.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on NVEC. Weiss Ratings upgraded NVE from a “hold (c+)” rating to a “buy (b-)” rating in a report on Thursday. Wall Street Zen upgraded NVE from a “hold” rating to a “buy” rating in a research note on Saturday. One equities research analyst has rated the stock with a Buy rating, According to MarketBeat.com, the company currently has an average rating of “Buy”.

NVE Stock Performance

The firm has a market cap of $568.94 million, a price-to-earnings ratio of 31.60 and a beta of 1.38. The business’s 50 day moving average price is $98.98 and its 200-day moving average price is $81.43.

NVE (NASDAQ:NVEC) last posted its quarterly earnings results on Wednesday, July 22nd. The semiconductor company reported $1.32 EPS for the quarter. NVE had a net margin of 57.64% and a return on equity of 30.53%. The business had revenue of $11.03 million during the quarter.

Trending Headlines about NVE

Here are the key news stories impacting NVE this week:

• Positive Sentiment: NVE reported strong Q1 results with higher earnings, solid sales growth, and support from new products and emerging opportunities in robotics and AIoT. NVE Corp Q1 Earnings Surge Y/Y on Strong Sales & New Products
• Positive Sentiment: The company also declared a quarterly dividend of $1.00 per share, signaling continued cash returns to shareholders and supporting the investment case for income-oriented investors.
• Neutral Sentiment: Several follow-up articles and transcript posts focused on the earnings call and the stock’s sharp recent move, but they did not add materially new fundamentals beyond the earnings release.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in NVE by 5.7% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 2,873 shares of the semiconductor company’s stock worth $183,000 after purchasing an additional 156 shares during the period. Jane Street Group LLC acquired a new position in NVE during the 1st quarter valued at about $351,000. State of Tennessee Department of Treasury raised its position in shares of NVE by 137.4% during the 2nd quarter. State of Tennessee Department of Treasury now owns 6,596 shares of the semiconductor company’s stock worth $486,000 after buying an additional 3,818 shares in the last quarter. SG Americas Securities LLC raised its position in shares of NVE by 78.9% during the 4th quarter. SG Americas Securities LLC now owns 3,930 shares of the semiconductor company’s stock worth $233,000 after buying an additional 1,733 shares in the last quarter. Finally, Handelsbanken Fonder AB lifted its stake in shares of NVE by 62.8% in the 4th quarter. Handelsbanken Fonder AB now owns 102,592 shares of the semiconductor company’s stock worth $6,087,000 after acquiring an additional 39,565 shares during the period. 65.95% of the stock is owned by institutional investors and hedge funds.

About NVE

NVE Corporation (NASDAQ:NVEC) is a technology company specializing in the development, manufacturing, and marketing of spintronic products. The company’s core expertise lies in magnetoresistive sensing and magnetic-field-based digital isolation, leveraging patented spin-valve and tunneling magnetoresistance technologies to deliver high-performance, low-power solutions.

NVE’s product portfolio includes magnetic sensors for current, position, and angle sensing applications, as well as micro-isolators and digital isolators that provide galvanic isolation in industrial, automotive, medical, instrumentation, and consumer electronics systems.