NVE (NVEC) Issues Earnings Results

NVE (NASDAQ:NVEC) announced its quarterly earnings results on Monday. The semiconductor company reported $0.88 EPS for the quarter, Bloomberg Earnings reports. The firm had revenue of $7.51 million during the quarter. NVE had a net margin of 49.58% and a return on equity of 16.90%.

NVEC traded up $1.47 during midday trading on Wednesday, reaching $96.70. 14 shares of the company’s stock were exchanged, compared to its average volume of 17,156. The stock has a market cap of $512.67 million, a price-to-earnings ratio of 32.67 and a beta of 1.09. NVE has a one year low of $68.50 and a one year high of $135.00.

The firm also recently declared a quarterly dividend, which will be paid on Friday, November 30th. Shareholders of record on Monday, October 29th will be paid a dividend of $1.00 per share. This represents a $4.00 dividend on an annualized basis and a yield of 4.14%. The ex-dividend date is Friday, October 26th. NVE’s dividend payout ratio is 137.46%.

In other news, Director Terrence Glarner sold 2,000 shares of the firm’s stock in a transaction that occurred on Wednesday, August 15th. The shares were sold at an average price of $115.00, for a total transaction of $230,000.00. Following the completion of the sale, the director now owns 3,200 shares of the company’s stock, valued at $368,000. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, CFO Curt A. Reynders sold 271 shares of the firm’s stock in a transaction that occurred on Wednesday, August 22nd. The stock was sold at an average price of $119.63, for a total transaction of $32,419.73. Following the sale, the chief financial officer now directly owns 8,729 shares of the company’s stock, valued at approximately $1,044,250.27. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 3,425 shares of company stock valued at $399,411. Company insiders own 2.40% of the company’s stock.

NVEC has been the subject of a number of analyst reports. BidaskClub upgraded shares of NVE from a “hold” rating to a “buy” rating in a research note on Friday, August 10th. ValuEngine cut shares of NVE from a “buy” rating to a “hold” rating in a research note on Monday, October 8th.

About NVE

NVE Corporation develops and sells devices that use spintronics, a nanotechnology that utilizes electron spin to acquire, store, and transmit information. The company manufactures spintronic products, including sensors and couplers for use in acquiring and transmitting data. Its products comprise standard sensors to detect the presence of a magnetic or metallic material to determine position or speed primarily for the factory automation market; and custom and medical sensors for medical devices to replace electromechanical magnetic switches.

Featured Story: What is the Dividend Aristocrat Index?

Earnings History for NVE (NASDAQ:NVEC)

Receive News & Ratings for NVE Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for NVE and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply