Wells Fargo & Company MN lifted its stake in NVE Corp (NASDAQ:NVEC) by 20.1% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 116,772 shares of the semiconductor company’s stock after acquiring an additional 19,504 shares during the period. Wells Fargo & Company MN’s holdings in NVE were worth $9,705,000 at the end of the most recent reporting period.
Other institutional investors also recently made changes to their positions in the company. Stone Ridge Asset Management LLC acquired a new stake in shares of NVE in the fourth quarter worth $202,000. MetLife Investment Advisors LLC acquired a new stake in shares of NVE in the fourth quarter worth $224,000. UBS Asset Management Americas Inc. grew its stake in shares of NVE by 73.4% in the fourth quarter. UBS Asset Management Americas Inc. now owns 5,485 shares of the semiconductor company’s stock worth $472,000 after acquiring an additional 2,321 shares during the last quarter. Comerica Bank grew 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 acquiring an additional 3,213 shares during the last quarter. Finally, First Trust Advisors LP acquired a new stake in shares of NVE in the fourth quarter worth $709,000. Institutional investors and hedge funds own 75.15% of the company’s stock.
Several equities research analysts have recently issued reports on the stock. ValuEngine upgraded shares of NVE from a “hold” rating to a “buy” rating in a research note on Friday, June 1st. BidaskClub upgraded shares of NVE from a “buy” rating to a “strong-buy” rating in a research note on Monday, May 14th.
Shares of NVE opened at $117.95 on Wednesday, Marketbeat Ratings reports. The firm has a market capitalization of $564.82 million, a PE ratio of 40.09 and a beta of 1.19. NVE Corp has a 1 year low of $68.50 and a 1 year high of $119.00.
NVE (NASDAQ:NVEC) last announced its quarterly earnings data on Wednesday, May 2nd. The semiconductor company reported $0.80 earnings per share (EPS) for the quarter. The business had revenue of $7.90 million for the quarter. NVE had a net margin of 46.59% and a return on equity of 15.90%.
The company also recently announced a quarterly dividend, which was paid on Thursday, May 31st. Investors of record on Monday, May 14th were given a $1.00 dividend. The ex-dividend date of this dividend was Friday, May 11th. This represents a $4.00 annualized dividend and a yield of 3.39%. NVE’s dividend payout ratio (DPR) is currently 137.46%.
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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