NVE (NASDAQ:NVEC) Sets New 52-Week High – Time to Buy?

Shares of NVE Corporation (NASDAQ:NVEC) hit a new 52-week high during mid-day trading on Friday . The stock traded as high as $115.15 and last traded at $117.3140, with a volume of 31558 shares. The stock had previously closed at $104.70.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings raised NVE from a “hold (c)” rating to a “hold (c+)” rating in a report on Monday. One equities research analyst has rated the stock with a Hold rating, Based on data from MarketBeat, the stock presently has an average rating of “Hold”.

NVE Stock Performance

The company has a market capitalization of $571.80 million, a PE ratio of 37.79 and a beta of 1.40. The company’s 50-day simple moving average is $87.77 and its 200-day simple moving average is $74.15.

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

NVE Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, May 29th. Shareholders of record on Monday, May 18th were paid a dividend of $1.00 per share. The ex-dividend date of this dividend was Monday, May 18th. This represents a $4.00 annualized dividend and a yield of 3.4%. NVE’s dividend payout ratio is currently 127.39%.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of NVEC. McMillan Office Inc. acquired a new position in shares of NVE in the fourth quarter valued at approximately $30,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in shares of NVE by 5.7% during 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. SG Americas Securities LLC grew its position in NVE by 78.9% in the 4th quarter. SG Americas Securities LLC now owns 3,930 shares of the semiconductor company’s stock valued at $233,000 after buying an additional 1,733 shares during the last quarter. Jane Street Group LLC purchased a new position in NVE in the 1st quarter valued at $351,000. Finally, State of Tennessee Department of Treasury increased its stake in 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 valued at $486,000 after buying an additional 3,818 shares during the period. 65.95% of the stock is currently owned by hedge funds and other institutional investors.

NVE Company Profile

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.