NVE (NASDAQ:NVEC) Stock Crosses Above Two Hundred Day Moving Average – Here’s Why

NVE Corporation (NASDAQ:NVEC) passed above its two hundred day moving average during trading on Tuesday . The stock has a two hundred day moving average of $78.65 and traded as high as $98.24. NVE shares last traded at $92.13, with a volume of 162,107 shares traded.

Analyst Ratings Changes

Separately, Weiss Ratings upgraded shares of NVE from a “hold (c)” rating to a “hold (c+)” rating in a report on Monday, June 8th. One equities research analyst has rated the stock with a Hold rating, Based on data from MarketBeat.com, the company has a consensus rating of “Hold”.

NVE Trading Up 1.8%

The company has a fifty day moving average price of $97.38 and a two-hundred day moving average price of $78.79. The company has a market cap of $448.00 million, a price-to-earnings ratio of 29.50 and a beta of 1.38.

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

NVE Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, May 29th. Stockholders of record on Monday, May 18th were issued a $1.00 dividend. The ex-dividend date of this dividend was Monday, May 18th. This represents a $4.00 annualized dividend and a dividend yield of 4.3%. NVE’s dividend payout ratio is presently 127.39%.

Hedge Funds Weigh In On NVE

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in shares of 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 valued at $183,000 after acquiring an additional 156 shares during the last quarter. Jane Street Group LLC bought a new stake in NVE during the 1st quarter worth approximately $351,000. State of Tennessee Department of Treasury increased its position 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 acquiring an additional 3,818 shares in the last quarter. SG Americas Securities LLC increased 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 acquiring an additional 1,733 shares in the last quarter. Finally, Handelsbanken Fonder AB raised its stake in shares of NVE by 62.8% in the fourth 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 last quarter. 65.95% of the stock is currently 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.