Bank of New York Mellon Corp increased its holdings in shares of NVE Corp (NASDAQ:NVEC) by 147.6% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 66,234 shares of the semiconductor company’s stock after acquiring an additional 39,482 shares during the period. Bank of New York Mellon Corp’s holdings in NVE were worth $5,696,000 at the end of the most recent reporting period.
Other large investors have also bought and sold shares of the company. Comerica Bank lifted its stake in shares of NVE by 115.4% in the fourth quarter. Comerica Bank now owns 5,997 shares of the semiconductor company’s stock worth $526,000 after buying an additional 3,213 shares in the last quarter. First Trust Advisors LP bought a new position in shares of NVE in the fourth quarter worth approximately $709,000. Cowen Prime Services LLC lifted its stake in shares of NVE by 18.0% in the fourth quarter. Cowen Prime Services LLC now owns 8,531 shares of the semiconductor company’s stock worth $734,000 after buying an additional 1,300 shares in the last quarter. Schwab Charles Investment Management Inc. lifted its stake in shares of NVE by 19.6% in the fourth quarter. Schwab Charles Investment Management Inc. now owns 10,164 shares of the semiconductor company’s stock worth $875,000 after buying an additional 1,664 shares in the last quarter. Finally, Granite Investment Partners LLC lifted its stake in shares of NVE by 57.0% in the fourth quarter. Granite Investment Partners LLC now owns 17,700 shares of the semiconductor company’s stock worth $1,523,000 after buying an additional 6,425 shares in the last quarter. 87.12% of the stock is currently owned by institutional investors and hedge funds.
Separately, BidaskClub upgraded shares of NVE from a “sell” rating to a “hold” rating in a research note on Monday, February 5th.
Shares of NASDAQ NVEC opened at $78.02 on Friday. The company has a market capitalization of $388.81, a PE ratio of 29.11 and a beta of 1.08. NVE Corp has a 52-week low of $68.50 and a 52-week high of $94.00.
NVE (NASDAQ:NVEC) last issued its earnings results on Wednesday, January 17th. The semiconductor company reported $0.78 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.63 by $0.15. The firm had revenue of $7.36 million for the quarter, compared to the consensus estimate of $7.20 million. NVE had a net margin of 45.31% and a return on equity of 14.68%.
COPYRIGHT VIOLATION NOTICE: “Bank of New York Mellon Corp Boosts Position in NVE Corp (NVEC)” was originally posted by Dispatch Tribunal and is the property of of Dispatch Tribunal. If you are reading this article on another website, it was stolen and republished in violation of U.S. and international copyright & trademark law. The legal version of this article can be viewed at https://www.dispatchtribunal.com/2018/04/07/bank-of-new-york-mellon-corp-boosts-position-in-nve-corp-nvec.html.
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).
Want to see what other hedge funds are holding NVEC? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for NVE Corp (NASDAQ:NVEC).
Receive News & Ratings for NVE Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for NVE and related companies with MarketBeat.com's FREE daily email newsletter.