TheStreet downgraded shares of NVE Corp. (NASDAQ:NVEC) from a buy rating to a hold rating in a research note released on Friday morning, AnalystRatings.Net reports.
“NVE Corporation (NVEC) has been downgraded by TheStreet Ratings from buy to hold. The company’s strengths can be seen in multiple areas, such as its largely solid financial position with reasonable debt levels by most measures, expanding profit margins and good cash flow from operations. However, as a counter to these strengths, we also find weaknesses including deteriorating net income and disappointing return on equity.,” the firm’s analyst wrote.
Shares of NVE Corp. (NASDAQ:NVEC) opened at 55.26 on Friday. NVE Corp. has a 52 week low of $46.33 and a 52 week high of $60.49. The stock has a 50-day moving average of $56.5 and a 200-day moving average of $55.61. The company has a market cap of $267.8 million and a price-to-earnings ratio of 23.00.
NVE Corp. (NASDAQ:NVEC) last announced its earnings results on Wednesday, January 22nd. The company reported $0.57 earnings per share for the quarter, missing the analysts’ consensus estimate of $0.63 by $0.06. The company had revenue of $6.47 million for the quarter, compared to the consensus estimate of $7.04 million. NVE Corp.’s revenue was down .9% compared to the same quarter last year. Analysts expect that NVE Corp. will post $2.43 EPS for the current fiscal year.
NVE Corporation (NASDAQ:NVEC) develops and sells devices that use spintronics, a nanotechnology that relies on electron spin.
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