Wasatch Advisors Inc. Reduces Position in NVE Corp (NVEC)

Wasatch Advisors Inc. reduced its position in shares of NVE Corp (NASDAQ:NVEC) by 2.8% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 58,503 shares of the semiconductor company’s stock after selling 1,662 shares during the period. Wasatch Advisors Inc. owned about 1.21% of NVE worth $5,031,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of the stock. Wedge Capital Management L L P NC raised its position in shares of NVE by 43.4% during the 3rd quarter. Wedge Capital Management L L P NC now owns 17,500 shares of the semiconductor company’s stock valued at $1,382,000 after acquiring an additional 5,300 shares in the last quarter. Bridge City Capital LLC raised its position in shares of NVE by 8.7% during the 3rd quarter. Bridge City Capital LLC now owns 10,852 shares of the semiconductor company’s stock valued at $857,000 after acquiring an additional 867 shares in the last quarter. Schroder Investment Management Group acquired a new stake in shares of NVE during the 2nd quarter valued at approximately $638,000. Parametric Portfolio Associates LLC raised its position in shares of NVE by 10.9% during the 2nd quarter. Parametric Portfolio Associates LLC now owns 4,087 shares of the semiconductor company’s stock valued at $315,000 after acquiring an additional 403 shares in the last quarter. Finally, Zeke Capital Advisors LLC acquired a new stake in shares of NVE during the 3rd quarter valued at approximately $235,000. 73.31% of the stock is currently owned by institutional investors and hedge funds.

Separately, BidaskClub raised NVE from a “sell” rating to a “hold” rating in a research report on Thursday, December 21st.

NVE Corp (NVEC) opened at $88.60 on Friday. The company has a market capitalization of $428.91, a price-to-earnings ratio of 32.81, a P/E/G ratio of 1.32 and a beta of 1.15. NVE Corp has a 52 week low of $71.05 and a 52 week high of $94.00.

NVE (NASDAQ:NVEC) last issued its quarterly earnings data on Wednesday, January 17th. The semiconductor company reported $0.78 EPS for the quarter, topping the Zacks’ consensus estimate of $0.63 by $0.15. The firm had revenue of $7.36 million during the quarter, compared to the consensus estimate of $7.20 million. NVE had a return on equity of 14.56% and a net margin of 45.31%. sell-side analysts forecast that NVE Corp will post 2.7 EPS for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, February 28th. Investors of record on Monday, January 29th will be paid a dividend of $1.00 per share. The ex-dividend date of this dividend is Friday, January 26th. This represents a $4.00 dividend on an annualized basis and a yield of 4.51%. NVE’s payout ratio is currently 148.15%.

In related news, Director Terrence Glarner sold 1,000 shares of the company’s stock in a transaction on Tuesday, November 28th. The stock was sold at an average price of $85.89, for a total transaction of $85,890.00. Following the completion of the transaction, the director now directly owns 3,200 shares in the company, valued at approximately $274,848. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, CFO Curt A. Reynders sold 1,228 shares of the company’s stock in a transaction on Thursday, November 16th. The stock was sold at an average price of $88.47, for a total value of $108,641.16. The disclosure for this sale can be found here. 2.30% of the stock is owned by corporate insiders.

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NVE Profile

NVE Corporation develops and sells devices that use spintronics, a nanotechnology that relies on electron spin to acquire, store and transmit information. The Company manufactures spintronic products, including sensors and couplers that are used to acquire and transmit data. The Company has also licensed its spintronic magnetoresistive random access memory technology (MRAM).

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Institutional Ownership by Quarter for NVE (NASDAQ:NVEC)

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