Granite Investment Partners LLC boosted its stake in NVE Corp (NASDAQ:NVEC) by 87.8% in the first quarter, HoldingsChannel reports. The institutional investor owned 7,624 shares of the semiconductor company’s stock after acquiring an additional 3,564 shares during the quarter. Granite Investment Partners LLC’s holdings in NVE were worth $746,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds also recently made changes to their positions in the company. Quantamental Technologies LLC bought a new position in NVE in the 4th quarter valued at about $34,000. Institutional & Family Asset Management LLC grew its position in NVE by 100.0% in the 1st quarter. Institutional & Family Asset Management LLC now owns 400 shares of the semiconductor company’s stock valued at $39,000 after buying an additional 200 shares in the last quarter. BNP Paribas Arbitrage SA grew its position in NVE by 49,850.0% in the 1st quarter. BNP Paribas Arbitrage SA now owns 999 shares of the semiconductor company’s stock valued at $98,000 after buying an additional 997 shares in the last quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. bought a new position in NVE in the 4th quarter valued at about $113,000. Finally, Metropolitan Life Insurance Co. NY grew its position in NVE by 313.4% in the 4th quarter. Metropolitan Life Insurance Co. NY now owns 1,513 shares of the semiconductor company’s stock valued at $132,000 after buying an additional 1,147 shares in the last quarter. Hedge funds and other institutional investors own 75.96% of the company’s stock.
Shares of NVEC opened at $68.96 on Friday. The stock has a market capitalization of $341.26 million, a P/E ratio of 23.55 and a beta of 1.43. NVE Corp has a 52-week low of $67.74 and a 52-week high of $135.00.
NVE (NASDAQ:NVEC) last issued its quarterly earnings results on Wednesday, May 1st. The semiconductor company reported $0.59 earnings per share for the quarter. NVE had a net margin of 54.81% and a return on equity of 17.21%. The company had revenue of $5.59 million during the quarter.
The firm also recently declared a quarterly dividend, which was paid on Friday, May 31st. Shareholders of record on Monday, May 13th were issued a $1.00 dividend. This represents a $4.00 dividend on an annualized basis and a yield of 5.80%. The ex-dividend date of this dividend was Friday, May 10th.
A number of equities analysts recently issued reports on NVEC shares. BidaskClub lowered shares of NVE from a “strong-buy” rating to a “buy” rating in a research report on Friday, March 15th. ValuEngine lowered shares of NVE from a “buy” rating to a “hold” rating in a research report on Friday, May 3rd.
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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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