PNC Financial Services Group Inc. lowered its position in NVE Corp. (NASDAQ:NVEC) by 0.8% during the second quarter, Holdings Channel reports. The institutional investor owned 9,027 shares of the company’s stock after selling 76 shares during the period. PNC Financial Services Group Inc. owned about 0.19% of NVE Corp. worth $529,000 at the end of the most recent reporting period.
Other hedge funds also recently bought and sold shares of the company. Emerald Acquisition Ltd. bought a new stake in NVE Corp. during the second quarter worth about $360,000. Renaissance Technologies LLC increased its stake in NVE Corp. by 6.3% in the first quarter. Renaissance Technologies LLC now owns 86,000 shares of the company’s stock valued at $4,862,000 after buying an additional 5,100 shares in the last quarter. Prudential Financial Inc. increased its stake in NVE Corp. by 12.7% in the first quarter. Prudential Financial Inc. now owns 16,023 shares of the company’s stock valued at $906,000 after buying an additional 1,800 shares in the last quarter. Geode Capital Management LLC increased its stake in NVE Corp. by 2.7% in the first quarter. Geode Capital Management LLC now owns 32,947 shares of the company’s stock valued at $1,862,000 after buying an additional 871 shares in the last quarter. Finally, Swiss National Bank increased its stake in NVE Corp. by 10.4% in the second quarter. Swiss National Bank now owns 8,500 shares of the company’s stock valued at $499,000 after buying an additional 800 shares in the last quarter. 73.25% of the stock is owned by institutional investors.
NVE Corp. (NASDAQ:NVEC) traded down 1.03% during mid-day trading on Friday, reaching $58.53. 3,962 shares of the company’s stock traded hands. The stock has a 50-day moving average price of $58.35 and a 200-day moving average price of $57.16. The stock has a market capitalization of $282.99 million, a PE ratio of 24.40 and a beta of 0.64. NVE Corp. has a 12-month low of $45.47 and a 12-month high of $62.93.
NVE Corp. (NASDAQ:NVEC) last released its quarterly earnings results on Wednesday, July 20th. The company reported $0.65 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.54 by $0.11. NVE Corp. had a net margin of 44.52% and a return on equity of 11.54%. The business had revenue of $6.71 million for the quarter, compared to the consensus estimate of $6.40 million. Equities research analysts expect that NVE Corp. will post $2.16 EPS for the current year.
The company also recently disclosed a dividend, which was paid on Wednesday, August 31st. Stockholders of record on Monday, August 1st were paid a $1.00 dividend. The ex-dividend date of this dividend was Thursday, July 28th. NVE Corp.’s dividend payout ratio (DPR) is presently 166.67%.
Separately, Zacks Investment Research raised shares of NVE Corp. from a “sell” rating to a “hold” rating in a research note on Wednesday, July 6th.
In other news, Director Terrence Glarner sold 1,000 shares of the stock in a transaction on Thursday, August 11th. The shares were sold at an average price of $57.86, for a total value of $57,860.00. Following the completion of the sale, the director now directly owns 4,200 shares of the company’s stock, valued at $243,012. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. 2.40% of the stock is currently owned by insiders.
NVE Corp. Company Profile
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).
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