Worth Watching Stock for Traders: NVE Corporation (Nasdaq: NVEC)

NVE Corporation (Nasdaq: NVEC) spotted trading -45.61% off 52-week high price. On the other end, the stock has been noted 3.71% away from the low price over the last 52-weeks. The stock changed -1.47% to recent value of $68.81. The stock transacted 42670 shares during most recent day however it has an average volume of 19.83K shares. The company has 4.84M of outstanding shares and 4.76M shares were floated in the market.

NVE Corporation (Nasdaq: NVEC) declared financial results for the quarter ended June 30, 2019.

Total revenue for the first quarter of fiscal 2020 decreased 11% to $6.29 million from $7.11 million in the prior-year quarter. The decrease was due to a 11% decrease in product sales and a 12% decrease in contract research and development revenue. Product sales decreased to $6.09 million from $6.87 million in the prior-year quarter. Net income for the first quarter of fiscal 2020 decreased 9% to $3.61 million, or $0.74 per diluted share, compared to $3.95 million, or $0.81 per share, for the prior-year quarter.

The company also announced a quarterly cash dividend to shareholders of $1.00 per share of common stock, payable August 30, 2019 to shareholders of record as of July 29, 2019.

“We are pleased to report sequential revenue and net income growth, and we launched important new products the past quarter,” said NVE President and Chief Executive Officer Daniel A. Baker, Ph.D.

NVE is a leader in the practical commercialization of spintronics, a nanotechnology that relies on electron spin rather than electron charge to acquire, store and transmit information. The company manufactures high-performance spintronic products including sensors and couplers that are used to acquire and transmit data.

Its earnings per share (EPS) expected to touch remained 2.70% for this year while earning per share for the next 5-years is expected to reach at 25.00%. NVEC has a gross margin of 80.30% and an operating margin of 60.30% while its profit margin remained 54.80% for the last 12 months.

According to the most recent quarter its current ratio was 32.8 that represents company’s ability to meet its current financial obligations. The price moved ahead of -1.53% from the mean of 20 days, -5.78% from mean of 50 days SMA and performed -22.62% from mean of 200 days price. Company’s performance for the week was -1.22%, -7.63% for month and YTD performance remained -21.40%.

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