Global Crown Capital downgrades NVE Corp (NVEC) to Underweight

September 12, 2006 1:32 PM EDT
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Price: $73.41 +0.84%

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Global Crown Capital downgrades NVE Corp (Nasdaq: NVEC) from Neutral to Underweight with a $26 price target, citing valuation.

Analyst Nikolay Tishchenko said,"We believe that the recent run up on the stock was driven by speculations on the adoption of NVEC’s IP on MRAM in volume production at Freescale (NYSE: FSL), which we believe has created significant downside risk for NVEC."

NVE is a leader in the practical commercialization of spintronics, a nanotechnology that many experts believe represents the next generation of microelectronics. NVE licenses its MRAM intellectual property and sells spintronic sensors and couplers to revolutionize data sensing and transmission.

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