Cadence Capital Management LLC trimmed its holdings in shares of NVE Corp (NASDAQ:NVEC) by 18.7% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 17,659 shares of the semiconductor company’s stock after selling 4,058 shares during the quarter. Cadence Capital Management LLC owned approximately 0.36% of NVE worth $1,870,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also made changes to their positions in NVEC. Cowen Prime Services LLC boosted its position in shares of NVE by 5.8% in the second quarter. Cowen Prime Services LLC now owns 9,131 shares of the semiconductor company’s stock worth $1,112,000 after purchasing an additional 501 shares during the period. Atria Investments LLC boosted its position in shares of NVE by 28.9% in the second quarter. Atria Investments LLC now owns 3,748 shares of the semiconductor company’s stock worth $456,000 after purchasing an additional 841 shares during the period. Sei Investments Co. bought a new position in shares of NVE in the second quarter worth approximately $183,000. BB&T Corp bought a new position in shares of NVE in the second quarter worth approximately $203,000. Finally, Nisa Investment Advisors LLC boosted its position in shares of NVE by 2,100.0% in the second quarter. Nisa Investment Advisors LLC now owns 2,200 shares of the semiconductor company’s stock worth $268,000 after purchasing an additional 2,100 shares during the period. Institutional investors own 77.03% of the company’s stock.
In other news, Director Terrence Glarner sold 2,000 shares of the business’s stock in a transaction 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 transaction, the director now owns 3,200 shares of the company’s stock, valued at $368,000. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, CFO Curt A. Reynders sold 271 shares of the business’s stock in a transaction on Wednesday, August 22nd. The stock was sold at an average price of $119.63, for a total transaction of $32,419.73. Following the completion of the transaction, the chief financial officer now directly owns 8,729 shares in the company, valued at approximately $1,044,250.27. The disclosure for this sale can be found here. Insiders sold 3,425 shares of company stock worth $399,411 in the last three months. Insiders own 2.40% of the company’s stock.
NVEC opened at $84.72 on Friday. The company has a market capitalization of $421.77 million, a price-to-earnings ratio of 29.11 and a beta of 1.29. NVE Corp has a 1-year low of $68.50 and a 1-year high of $135.00.
NVE (NASDAQ:NVEC) last posted its quarterly earnings results on Monday, October 15th. The semiconductor company reported $0.88 earnings per share for the quarter. The business had revenue of $7.51 million during the quarter. NVE had a net margin of 52.49% and a return on equity of 18.42%.
The company also recently declared a quarterly dividend, which will be paid on Friday, November 30th. Shareholders of record on Monday, October 29th will be given a $1.00 dividend. The ex-dividend date of this dividend is Friday, October 26th. This represents a $4.00 dividend on an annualized basis and a dividend yield of 4.72%. NVE’s payout ratio is currently 137.46%.
A number of research firms have weighed in on NVEC. BidaskClub lowered shares of NVE from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, July 17th. ValuEngine lowered shares of NVE from a “buy” rating to a “hold” rating in a research report on Monday, October 8th.
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NVE Company Profile
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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