here’s a simplified dual-company investment/business report on NVE Corp (NVEC) and GlobalFoundries (GFS), with emphasis on how they complement each other for retail investors seeking exposure to the spintronics market.
📊 Investment/Business Report: NVEC + GFS
🧲 NVE Corporation (NASDAQ: NVEC)
Snapshot
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Market Cap: ~$250–300M (microcap)
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Focus: Pure-play spintronics — magnetic sensors (GMR/TMR) and digital isolators (IsoLoop®).
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Dividend: ~$1.00/share quarterly (~6% yield).
Technology & Advances
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Sensors: Giant/tunnel magnetoresistance (GMR/TMR) sensors for position, current, and rotation sensing.
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Digital isolators: Patented spintronic isolators with low EMI, high speed, and radiation resistance.
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MRAM IP: Early co-developer of MRAM; licenses IP, but does not mass-produce.
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Recent R&D: High-reliability isolator series (IL7xxH) targeting space/aerospace designs.
Financials
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FY2025 Revenue: ~$25.9M (down 13% YoY)
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Net Income: ~$15M (margin ~58%)
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Balance sheet: No debt, strong cash, high dividends.
Market & Clients 
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End markets: Aerospace/defense, industrial automation, medical electronics.
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Customer base: Primarily OEMs via distributors; often undisclosed due to defense/medical use.
Competitive Position
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Moat: Specialized spintronics IP, radiation-hard reliability, and consistent profitability.
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Competitors: Allegro, Infineon, TDK (TMR sensors); Analog Devices, Silicon Labs (digital isolators).
🏭 GlobalFoundries (NASDAQ: GFS)
Snapshot
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Market Cap: ~$35–40B (large-cap)
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Focus: Specialty semiconductor foundry with emphasis on automotive, IoT, RF, and embedded memories.
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Dividend: None; reinvests in fabs and partnerships.
Technology & Advances
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eMRAM (embedded MRAM):
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22FDX eMRAM already in volume production.
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Partnered with Everspin for MRAM commercialization.
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Supplying NXP automotive MCUs with eMRAM at 16 nm (sampling 2025).
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Foundry role: Provides IP/processes enabling MRAM in automotive-grade, low-power chips.
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CHIPS Act support: Benefits from U.S. and EU funding for domestic fabs.
Financials
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Revenue (2024): ~$7B
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Profitability: Thin margins, cyclical, but EV/EBITDA (~7.5x) suggests undervaluation vs. peers.
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Customer base: Broad — NXP, Qualcomm, AMD (legacy), aerospace/defense contracts with U.S. DoD.
Competitive Position
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Moat:
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Specialty focus (not cutting-edge like TSMC, but tuned for auto/IoT).
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Long-term contracts with automotive, defense, and government customers.
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Scale and fabs give them first access to integrate new spintronic materials.
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Competitors: TSMC, Samsung Foundry, Intel Foundry Services.
🔗 Why NVEC + GFS Together?
| Attribute | NVE (NVEC) | GlobalFoundries (GFS) | How They Complement |
|---|---|---|---|
| Scale | Tiny, niche | Large-cap, global | Provides both niche precision and mass infrastructure |
| Focus | Spintronics IP, sensors, isolators | Embedded MRAM in automotive/IoT | Covers both component-level devices and manufacturing platforms |
| Exposure | Direct to spintronics fundamentals | Indirect but crucial enabler | Dual exposure: boutique physics + scalable foundry |
| Financials | Profitable, high dividend | Growth reinvestment, undervalued multiples | Income (NVEC) + growth/infrastructure (GFS) |
| Market Reach | Defense, aerospace, medical niches | Automotive, IoT, global foundry markets | Balanced coverage of high-reliability + mass-market applications |
📈 Investor Takeaways
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NVEC:
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Best for retail investors wanting direct spintronics exposure, with income stability (6% dividend yield).
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Niche focus makes it volatile but differentiated.
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GFS:
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Best for exposure to spintronics at scale (eMRAM in auto/IoT chips), backed by government support.
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A strategic, lower-risk play on spintronics integration into mainstream semis.
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Combined Strategy
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Why own both?
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NVEC = “pure physics boutique” → dividend income + niche exposure.
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GFS = “infrastructure backbone” → large-cap stability + scaling of MRAM into auto/IoT.
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Together, they give retail investors broad yet complementary exposure to spintronics’ present (NVEC) and future (GFS).
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✅ Bottom line:
For a retail investor bullish on spintronics and quantum-adjacent tech, a mini-portfolio of NVEC + GFS blends direct spintronics exposure with foundry-scale adoption. Add Everspin (MRAM) if you want higher-risk, higher-reward pure MRAM growth.
ED Note: Full disclosure
We recently bought NVEC shares and have placed GFS on watch list!
