When we published our NVEC 0.00%↑ deep dive piece a few weeks ago, the standing objection to this company was always the same: beautiful margins, but no growth.
Our argument was that the growth was about to kick in.
A factory that had just doubled
A capex bill about to vanish
A defense business coiled off a near zero base
A growth incentivized engineer taking the wheel
The spintronics market seeing explosive growth
On July 22, NVE reported the first quarter with that new capacity fully in service.
→Revenue $11.03 million, up 81%
→ Net income $6.39 million, up 79%
→ EPS of $1.32 versus $0.74, up 78%
We’re not here just to toot our own horn though, we believe NVEC is actually much cheaper than it was before we published our first article on it. Our new price targets are as follows:
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