Atria Investments LLC increased its holdings in NVE Corp (NASDAQ:NVEC) by 35.6% in the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 5,081 shares of the semiconductor company’s stock after purchasing an additional 1,333 shares during the period. Atria Investments LLC’s holdings in NVE were worth $538,000 as of its most recent filing with the Securities and Exchange Commission.
Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Cornerstone Wealth Management LLC bought a new position in NVE in the 2nd quarter worth approximately $100,000. Sei Investments Co. bought a new position in NVE in the 2nd quarter worth approximately $183,000. BB&T Corp bought a new position in NVE in the 2nd quarter worth approximately $203,000. Nisa Investment Advisors LLC boosted its holdings in NVE by 2,100.0% in the 2nd quarter. Nisa Investment Advisors LLC now owns 2,200 shares of the semiconductor company’s stock worth $268,000 after buying an additional 2,100 shares during the period. Finally, Port Capital LLC bought a new position in NVE in the 2nd quarter worth approximately $332,000. 75.89% of the stock is owned by institutional investors.
NASDAQ NVEC opened at $95.60 on Friday. NVE Corp has a 1 year low of $68.50 and a 1 year high of $135.00. The company has a market capitalization of $512.67 million, a price-to-earnings ratio of 32.85 and a beta of 1.09.
NVE (NASDAQ:NVEC) last posted its earnings results on Monday, October 15th. The semiconductor company reported $0.88 earnings per share (EPS) for the quarter. NVE had a net margin of 49.58% and a return on equity of 16.90%. The business had revenue of $7.51 million for the quarter.
The company also recently announced a quarterly dividend, which will be paid on Friday, November 30th. Shareholders of record on Monday, October 29th will be paid a $1.00 dividend. This represents a $4.00 annualized dividend and a yield of 4.18%. The ex-dividend date of this dividend is Friday, October 26th. NVE’s dividend payout ratio is presently 137.46%.
Several research firms have issued reports on NVEC. BidaskClub upgraded shares of NVE from a “hold” rating to a “buy” rating in a research note on Friday, August 10th. ValuEngine cut shares of NVE from a “buy” rating to a “hold” rating in a research note on Monday, October 8th.
In other NVE news, Director Terrence Glarner sold 2,000 shares of the stock in a transaction that occurred on Wednesday, August 15th. The shares were sold at an average price of $115.00, for a total value of $230,000.00. Following the sale, the director now directly owns 3,200 shares in the company, valued at approximately $368,000. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Curt A. Reynders sold 1,154 shares of the stock in a transaction that occurred on Wednesday, August 29th. The stock was sold at an average price of $118.71, for a total transaction of $136,991.34. Following the completion of the sale, the chief financial officer now owns 7,575 shares in the company, valued at $899,228.25. The disclosure for this sale can be found here. Insiders sold a total of 3,425 shares of company stock worth $399,411 over the last quarter. Corporate insiders own 2.40% of the company’s stock.
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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