Azzad Asset Management Inc. ADV Invests $277,000 in NVE Co. (NASDAQ:NVEC)

Azzad Asset Management Inc. ADV bought a new position in NVE Co. (NASDAQ:NVEC) in the 1st quarter, HoldingsChannel.com reports. The institutional investor bought 4,352 shares of the semiconductor company’s stock, valued at approximately $277,000.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Royce & Associates LP lifted its position in shares of NVE by 1.1% in the 4th quarter. Royce & Associates LP now owns 488,320 shares of the semiconductor company’s stock worth $39,764,000 after purchasing an additional 5,328 shares during the period. Geode Capital Management LLC lifted its position in shares of NVE by 3.5% in the 4th quarter. Geode Capital Management LLC now owns 139,280 shares of the semiconductor company’s stock worth $11,344,000 after purchasing an additional 4,667 shares during the period. Rhumbline Advisers lifted its position in shares of NVE by 34.4% in the 1st quarter. Rhumbline Advisers now owns 78,419 shares of the semiconductor company’s stock worth $4,998,000 after purchasing an additional 20,061 shares during the period. JPMorgan Chase & Co. lifted its position in shares of NVE by 2.9% in the 4th quarter. JPMorgan Chase & Co. now owns 70,119 shares of the semiconductor company’s stock worth $5,710,000 after purchasing an additional 1,981 shares during the period. Finally, Northern Trust Corp lifted its position in shares of NVE by 3.7% in the 4th quarter. Northern Trust Corp now owns 46,274 shares of the semiconductor company’s stock worth $3,768,000 after purchasing an additional 1,644 shares during the period. 65.95% of the stock is owned by hedge funds and other institutional investors.

NVE Trading Down 4.7%

NASDAQ:NVEC opened at $68.52 on Monday. The company has a 50-day moving average price of $65.43 and a 200-day moving average price of $70.46. NVE Co. has a 12 month low of $51.50 and a 12 month high of $89.98. The stock has a market cap of $331.43 million, a price-to-earnings ratio of 22.10 and a beta of 1.15.

NVE (NASDAQ:NVEC) last issued its quarterly earnings results on Wednesday, May 7th. The semiconductor company reported $0.80 earnings per share (EPS) for the quarter. NVE had a net margin of 58.33% and a return on equity of 23.21%. The company had revenue of $6.95 million during the quarter.

NVE Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, May 30th. Investors of record on Monday, May 19th were given a dividend of $1.00 per share. The ex-dividend date of this dividend was Monday, May 19th. This represents a $4.00 dividend on an annualized basis and a yield of 5.84%. NVE’s dividend payout ratio (DPR) is currently 128.62%.

NVE Company Profile

NVE Corporation develops and sells devices that use spintronics, a nanotechnology that relies on electron spin to acquire, store, and transmit information in the United States and internationally. The company manufactures spintronic products, including sensors and couplers for use in acquiring and transmitting data.