Insider Selling: NVE (NASDAQ:NVEC) CEO Sells 1,155 Shares of Stock

by · The Markets Daily

NVE Corporation (NASDAQ:NVECGet Free Report) CEO Daniel Baker sold 1,155 shares of the stock in a transaction that occurred on Tuesday, January 27th. The shares were sold at an average price of $74.04, for a total transaction of $85,516.20. Following the completion of the sale, the chief executive officer directly owned 60,031 shares in the company, valued at approximately $4,444,695.24. This represents a 1.89% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link.

NVE Price Performance

Shares of NVE stock traded down $0.23 during trading on Thursday, hitting $72.05. 53,835 shares of the stock were exchanged, compared to its average volume of 49,474. The stock has a market cap of $348.72 million, a price-to-earnings ratio of 24.67 and a beta of 1.24. The firm’s 50-day moving average price is $66.31 and its 200 day moving average price is $66.80. NVE Corporation has a 12-month low of $51.50 and a 12-month high of $82.30.

NVE (NASDAQ:NVECGet Free Report) last posted its quarterly earnings results on Wednesday, January 21st. The semiconductor company reported $0.70 earnings per share for the quarter. The company had revenue of $6.22 million for the quarter. NVE had a return on equity of 23.47% and a net margin of 54.59%.

NVE Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, February 27th. Shareholders of record on Monday, February 2nd will be issued a dividend of $1.00 per share. The ex-dividend date of this dividend is Monday, February 2nd. This represents a $4.00 dividend on an annualized basis and a yield of 5.6%. NVE’s dividend payout ratio (DPR) is presently 136.99%.

Institutional Trading of NVE

Several hedge funds have recently modified their holdings of NVEC. Cornerstone Planning Group LLC purchased a new stake in NVE during the third quarter worth about $36,000. SG Americas Securities LLC acquired a new stake in shares of NVE during the 3rd quarter valued at approximately $143,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in shares of NVE by 5.7% during the 1st 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 period. Handelsbanken Fonder AB purchased a new stake in shares of NVE during the 2nd quarter worth approximately $211,000. Finally, Jane Street Group LLC acquired a new stake in shares of NVE in the 1st quarter worth approximately $351,000. 65.95% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings reaffirmed a “hold (c)” rating on shares of NVE in a report on Monday, December 29th. One equities research analyst has rated the stock with a Hold rating, Based on data from MarketBeat, the company currently has an average rating of “Hold”.

View Our Latest Stock Analysis on NVE

NVE Company Profile

(Get Free Report)

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.

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