NVE (NASDAQ:NVEC) Shares Pass Above 200 Day Moving Average – Here’s Why

NVE Corporation (NASDAQ:NVEC) shares crossed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $77.21 and traded as high as $96.66. NVE shares last traded at $96.18, with a volume of 390,853 shares trading hands.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings raised NVE from a “hold (c)” rating to a “hold (c+)” rating in a research note on Monday, June 8th. One analyst has rated the stock with a Hold rating, According to data from MarketBeat.com, NVE has an average rating of “Hold”.

NVE Price Performance

The stock’s 50 day moving average is $94.64 and its 200-day moving average is $77.21. The company has a market capitalization of $465.51 million, a P/E ratio of 30.63 and a beta of 1.40.

NVE (NASDAQ:NVEC) last posted its quarterly earnings data on Wednesday, May 6th. The semiconductor company reported $1.02 earnings per share for the quarter. NVE had a return on equity of 25.62% and a net margin of 57.72%.The business had revenue of $7.65 million for the quarter.

NVE Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, May 29th. Investors of record on Monday, May 18th were given a dividend of $1.00 per share. The ex-dividend date was Monday, May 18th. This represents a $4.00 annualized dividend and a dividend yield of 4.2%. NVE’s payout ratio is currently 127.39%.

Institutional Investors Weigh In On NVE

Several hedge funds and other institutional investors have recently added to or reduced their stakes in NVEC. Handelsbanken Fonder AB lifted its position in NVE by 2,103.7% during the third quarter. Handelsbanken Fonder AB now owns 63,027 shares of the semiconductor company’s stock valued at $4,114,000 after buying an additional 60,167 shares during the period. Jane Street Group LLC bought a new stake in shares of NVE during the 1st quarter valued at $351,000. State of Tennessee Department of Treasury grew its position in shares of NVE by 137.4% in 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 during the period. SG Americas Securities LLC grew its position in shares of NVE by 78.9% in 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 during the period. Finally, McMillan Office Inc. bought a new position in shares of NVE in the 4th quarter worth about $30,000. 65.95% of the stock is owned by hedge funds and other institutional investors.

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.