NVE Corp (NVEC) to Issue Quarterly Dividend of $1.00

NVE Corp (NASDAQ:NVEC) declared a quarterly dividend on Thursday, January 18th, Wall Street Journal reports. Shareholders of record on Monday, January 29th will be given a dividend of 1.00 per share by the semiconductor company on Wednesday, February 28th. This represents a $4.00 dividend on an annualized basis and a yield of 4.49%. The ex-dividend date is Friday, January 26th.

NVE (NVEC) traded down $1.17 during trading on Thursday, reaching $89.06. 25,300 shares of the company’s stock were exchanged, compared to its average volume of 14,609. NVE has a 52 week low of $70.69 and a 52 week high of $94.00. The firm has a market cap of $428.91, a P/E ratio of 33.23, a PEG ratio of 1.34 and a beta of 1.15.

NVE (NASDAQ:NVEC) last released its earnings results on Wednesday, January 17th. The semiconductor company reported $0.78 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.63 by $0.15. NVE had a net margin of 44.85% and a return on equity of 14.11%. analysts forecast that NVE will post 2.7 earnings per share for the current year.

Separately, BidaskClub downgraded shares of NVE from a “hold” rating to a “sell” rating in a research report on Saturday, December 2nd.

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

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About NVE

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).

Dividend History for NVE (NASDAQ:NVEC)

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