NVE Corporation
- Open
- 101.48
- Day high
- 101.48
- Day low
- 97.44
- Prev close
- 100.89
- Volume
- 137K
- Mkt cap
- $484M
- P/E (TTM)
- 26.9
- EPS (TTM)
- $3.72
- P/B
- 8.1
- P/S
- 15.5
- Yield
- 4.00%
- Per share
- $4.00
- ▼Insiders net selling -$2.9M over the last 3 months (0 open-market buys, 6 sales)
- 🏛Institutions accumulating (13F)
NVE Corporation (NVEC) is a Technology company listed on NASDAQ. The stock is up 54% over the past year. Over the trailing 3 months, insiders filed 0 open-market buys and 6 sales (SEC Form 4).
NVE Corporation (NVEC) financials & analyst ratings
Fundamentals (TTM)
Source: exchange market data + company filings. Figures are trailing-twelve-month or as most recently reported. For informational purposes only — not investment advice.
NVEC earnings date, history & EPS estimates
| Report date | EPS est | EPS actual | Surprise | Revenue | Rev. surprise |
|---|---|---|---|---|---|
| Jul 22, 2026 | — | $1.32 | — | $11M | — |
| May 6, 2026 | — | $1.02 | — | $8M | — |
| Jan 21, 2026 | — | $0.70 | — | $6M | — |
| Oct 22, 2025 | — | $0.68 | — | $6M | — |
| Jul 23, 2025 | — | $0.74 | — | $6M | — |
| Jan 22, 2025 | — | $0.63 | — | $5M | — |
| Oct 23, 2024 | — | $0.83 | — | $7M | — |
| Jul 17, 2024 | — | $0.85 | — | $7M | — |
| May 1, 2024 | — | $0.79 | — | $7M | — |
| Jan 17, 2024 | — | $0.87 | — | $7M | — |
| Oct 18, 2023 | — | $0.98 | — | $7M | — |
| Jul 19, 2023 | — | $0.91 | — | $9M | — |
NVEC insider trading activity (SEC Form 4)
| Date | Insider | Type | Shares | Price |
|---|---|---|---|---|
| Aug 27, 2026 | BAKER DANIEL Adirector | Sell | 1,731 | $107.00 |
| Aug 27, 2026 | BAKER DANIEL Adirector | Sell | 2,000 | $109.00 |
| Aug 19, 2026 | BAKER DANIEL Adirector | Sell | 1,500 | $121.50 |
| Aug 18, 2026 | Valentine Carolyn Walkerdirector | Grant | 1,000 | $129.43 |
| Aug 10, 2026 | BRACKE JAMES Wdirector | Grant | 1,000 | $129.43 |
| Aug 10, 2026 | Wei Xuan Kellydirector | Grant | 1,000 | $129.43 |
| Aug 10, 2026 | HOLLISTER PATRICIA Mdirector | Grant | 1,000 | $129.43 |
| Jul 29, 2026 | BAKER DANIEL Adirector, officer: President & CEO | Option | 853 | $117.55 |
| Jul 29, 2026 | Wei Xuan Kellydirector | Option | 500 | $61.72 |
| Jul 29, 2026 | Wei Xuan Kellydirector | Option | 1,000 | $81.96 |
| Jul 29, 2026 | Wei Xuan Kellydirector | Option | 538 | $117.38 |
| Jul 29, 2026 | BAKER DANIEL Adirector, officer: President & CEO | Option | 2,500 | $54.34 |
| Jul 29, 2026 | BAKER DANIEL Adirector, officer: President & CEO | Sell | 15,222 | $114.08 |
| Jul 29, 2026 | BAKER DANIEL Adirector, officer: President & CEO | Sell | 3,260 | $117.57 |
| Jul 29, 2026 | BAKER DANIEL Adirector, officer: President & CEO | Sell | 1,518 | $117.56 |
Source: NVEC SEC Form 4 filings, latest Aug 27, 2026. For informational purposes only — not investment advice.
See the full NVEC insider & 13F page →NVE Corporation company profile
Overview
NVE Corporation (NASDAQ:NVEC) is a specialized semiconductor company founded in 1989 and headquartered in Eden Prairie, Minnesota. The company went public in 1995 and has established itself as a pioneer in spintronics technology, a nanotechnology field that utilizes electron spin properties to create advanced electronic devices. NVE operates as a niche player in the broader semiconductor industry, focusing on developing and manufacturing spintronic products including sensors and couplers for industrial, medical, and defense applications.
Business
NVE Corporation operates in the specialized field of spintronics, which is a branch of nanotechnology that exploits the intrinsic spin of electrons and their associated magnetic moment, in addition to their fundamental electronic charge. This technology enables the creation of devices that can acquire, store, and transmit information more efficiently than traditional electronics. The company's core business revolves around two main product categories. Spintronic sensors represent the primary revenue driver, accounting for the majority of product sales. These sensors detect the presence of magnetic or metallic materials to determine position, speed, or rotation. They include standard sensors primarily used in factory automation markets, as well as custom and medical sensors designed for medical devices where they replace traditional electromechanical magnetic switches. Notable applications include components for hearing aids, leadless pacemakers, and other miniaturized medical devices. Spintronic couplers form the second major product category, designed for industrial Internet of Things applications and power conversion systems. These devices provide electrical isolation while transmitting data or power, making them crucial for applications in electric vehicles, energy storage systems, and industrial control systems. The company also generates revenue through contract research and development services, primarily focused on defense-related projects including anti-tamper systems and physically unclonable functions (PUF). Additionally, NVE licenses its spintronic magnetoresistive random access memory (MRAM) technology to other manufacturers. Based on recent financial data, product sales typically account for approximately 85-90% of total revenue, while contract R&D services contribute the remaining 10-15%, though this ratio can fluctuate significantly based on specific project timing.
Revenue model
NVE Corporation generates revenue through multiple streams within its spintronic technology portfolio. The primary revenue source comes from product sales of sensors and couplers, which are sold directly to end customers and through distribution channels. The company's customers include medical device manufacturers like Abbott, industrial automation companies, defense contractors, and emerging markets in electric vehicles and energy storage systems. The company also earns revenue through contract research and development services, primarily with defense-related organizations. These contracts often focus on developing anti-tamper technologies and next-generation memory solutions, with the strategic goal of eventually commercializing the developed technologies into product sales. A smaller but consistent revenue stream comes from technology licensing, particularly for MRAM technology, where NVE receives royalties from other manufacturers who incorporate their spintronic innovations. Several factors influence NVE's profitability margins. Positive margin drivers include the company's focus on high-value, specialized applications where performance matters more than price, the shift toward direct sales which eliminates distributor markups, and the increasing miniaturization demands in medical and industrial applications that favor NVE's advanced technology. The company's gross margins have improved from 77% to over 84% in recent periods, reflecting this premium positioning. Margin pressures can arise from semiconductor industry cyclicality, distributor inventory management cycles, competitive pricing in commodity sensor markets, and the significant R&D investments required to maintain technological leadership. The company typically invests 13-17% of revenue in R&D, which is necessary for innovation but impacts near-term profitability. Additionally, fluctuations in contract R&D revenue can create quarterly volatility in overall margins.
Competitive moat
NVE Corporation's competitive moat stems primarily from its technological leadership in spintronics, a specialized field where the company holds significant intellectual property and manufacturing expertise accumulated over more than three decades. The company's Giant Magnetoresistance (GMR) and Tunneling Magnetoresistance (TMR) technologies offer superior performance characteristics compared to traditional Hall Effect sensors, including higher accuracy, lower power consumption, and smaller form factors. The moat is strengthened by high switching costs in critical applications, particularly in medical devices where regulatory approval processes and reliability requirements create significant barriers to customer switching. Long-term partnerships with companies like Abbott demonstrate the stickiness of these relationships once NVE's sensors are designed into medical devices. However, the moat faces several challenges. The company operates in niche markets with limited scale, making it vulnerable to larger semiconductor companies that might choose to invest in competing technologies. Potential disruption could come from advances in traditional Hall Effect sensors, MEMS-based solutions, or optical sensing technologies that might offer comparable performance at lower costs. The company's manufacturing scale limitations also constrain its ability to compete in high-volume, price-sensitive applications. While NVE excels in specialized, high-performance applications, it cannot match the cost structure of larger semiconductor manufacturers in commodity markets. The moat is therefore strongest in applications where performance, reliability, and miniaturization are more important than cost, but remains vulnerable in broader market segments where scale and price competition dominate.
Risks & safety
NVE Corporation demonstrates a strong financial position with significant margin of safety characteristics. • Solvency and liquidity: Excellent financial health with current ratio of 28.4x, quick ratio of 22.0x, and minimal debt (debt-to-equity ratio of 0.013). Cash and short-term investments of $8.0 million plus strong operating cash flow generation of $14.3 million annually. • Profitability metrics: Strong cash generation with free cash flow of $13.1 million, representing 51% of revenue. Operating margins remain healthy despite R&D investments of 14% of revenue. • Valuation considerations: Trading at P/E ratio of 20.5x with EV/EBITDA of 18.8x. Graham number suggests potential undervaluation at current levels. Price-to-book ratio of 4.9x reflects premium but reasonable given specialized technology position. • Other factors: Consistent dividend payments, minimal capital intensity outside of planned strategic investments, and strong balance sheet provide downside protection. However, revenue concentration in niche markets and quarterly volatility from contract R&D timing create some uncertainty.
Recent development
Over the past few years, NVE has pursued several strategic initiatives to expand its market reach and manufacturing capabilities. The company has invested significantly in wafer-level chip scale packaging technology, planning $4-5 million in capital expenditures to develop in-house manufacturing capabilities for the world's smallest sensors of their type. This initiative aims to serve growing demand for miniaturization in medical devices, robotics, and mechatronics applications. Product innovation has accelerated with the introduction of new sensor families including high-sensitivity rotation sensors, advanced position sensors, and ultra-miniature magnetic switches. The company has also expanded its tunneling magnetoresistance (TMR) technology offerings and developed new evaluation platforms compatible with Arduino to facilitate customer adoption. Market expansion efforts include increased participation in international trade shows, enhanced direct sales activities, and targeted marketing toward emerging applications in electric vehicles, energy storage, and Industrial Internet of Things. The company has secured design wins in home energy storage systems and electric vehicle charging stations, while continuing to strengthen its position in medical devices through extended partnerships with companies like Abbott. Operational improvements include facility expansion with a 62-month lease extension through May 2031, infrastructure upgrades for increased manufacturing capacity, and enhanced supply chain control to reduce risks exposed during the COVID-19 pandemic. The company has also strengthened its sales and marketing organization with additional personnel and improved customer support capabilities.
NVEC company profile · for informational purposes only — not investment advice.
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