Wasatch Advisors Inc. reduced its holdings in NVE Corp (NASDAQ:NVEC) by 72.1% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 12,733 shares of the semiconductor company’s stock after selling 32,859 shares during the quarter. Wasatch Advisors Inc.’s holdings in NVE were worth $1,246,000 at the end of the most recent quarter.
Other institutional investors and hedge funds have also bought and sold shares of the company. Quantamental Technologies LLC acquired a new stake in shares of NVE in the 4th quarter valued at approximately $34,000. BNP Paribas Arbitrage SA raised its holdings in NVE by 49,850.0% during the first quarter. BNP Paribas Arbitrage SA now owns 999 shares of the semiconductor company’s stock worth $98,000 after purchasing an additional 997 shares during the last quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. acquired a new position in NVE during the fourth quarter worth $113,000. Metropolitan Life Insurance Co. NY raised its holdings in NVE by 313.4% during the fourth quarter. Metropolitan Life Insurance Co. NY now owns 1,513 shares of the semiconductor company’s stock worth $132,000 after purchasing an additional 1,147 shares during the last quarter. Finally, Skylands Capital LLC acquired a new position in NVE during the first quarter worth $279,000. 75.26% of the stock is owned by institutional investors and hedge funds.
NVE stock traded down $0.83 during mid-day trading on Friday, hitting $73.40. 12,766 shares of the company were exchanged, compared to its average volume of 16,976. The company has a market capitalization of $355.70 million, a price-to-earnings ratio of 25.42 and a beta of 1.26. NVE Corp has a 12-month low of $72.30 and a 12-month high of $135.00.
NVE (NASDAQ:NVEC) last released its quarterly earnings results on Wednesday, May 1st. The semiconductor company reported $0.59 earnings per share for the quarter. The company had revenue of $5.59 million during the quarter. NVE had a return on equity of 17.21% and a net margin of 54.81%.
The business also recently declared a quarterly dividend, which will be paid on Friday, May 31st. Shareholders of record on Monday, May 13th will be given a dividend of $1.00 per share. This represents a $4.00 annualized dividend and a yield of 5.45%. The ex-dividend date is Friday, May 10th.
Several equities analysts have weighed in on NVEC shares. BidaskClub downgraded NVE from a “buy” rating to a “hold” rating in a research report on Saturday, May 4th. ValuEngine raised NVE from a “hold” rating to a “buy” rating in a research report on Monday, February 4th.
NVE Corporation develops and sells devices that use spintronics, a nanotechnology that utilizes electron spin to acquire, store, and transmit information. The company manufactures spintronic products, including sensors and couplers for use in acquiring and transmitting data. Its products comprise standard sensors to detect the presence of a magnetic or metallic material to determine position or speed primarily for the factory automation market; and custom and medical sensors for medical devices to replace electromechanical magnetic switches.
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