California State Teachers Retirement System Sells 279 Shares of NVE Corp. (NVEC)
California State Teachers Retirement System lowered its stake in NVE Corp. (NASDAQ:NVEC) by 2.7% during the second quarter, Holdings Channel reports. The fund owned 10,021 shares of the company’s stock after selling 279 shares during the period. California State Teachers Retirement System owned 0.21% of NVE Corp. worth $588,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also recently bought and sold shares of NVEC. Strs Ohio boosted its position in NVE Corp. by 8.2% in the second quarter. Strs Ohio now owns 10,600 shares of the company’s stock valued at $621,000 after buying an additional 800 shares during the last quarter. Geode Capital Management LLC boosted its position 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 during the last quarter. Finally, Prudential Financial Inc. boosted its position 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 during the last quarter. Hedge funds and other institutional investors own 73.25% of the company’s stock.
NVE Corp. (NASDAQ:NVEC) traded down 0.89% during mid-day trading on Friday, hitting $58.23. The stock had a trading volume of 3,170 shares. The company’s 50 day moving average is $58.55 and its 200-day moving average is $57.46. NVE Corp. has a 52 week low of $45.47 and a 52 week high of $62.93. The stock has a market capitalization of $281.54 million, a P/E ratio of 24.27 and a beta of 0.59.
NVE Corp. (NASDAQ:NVEC) last announced its quarterly earnings results on Wednesday, July 20th. The company reported $0.65 earnings per share (EPS) for the quarter, beating the 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 company had revenue of $6.71 million for the quarter, compared to the consensus estimate of $6.40 million. On average, analysts expect that NVE Corp. will post $2.16 EPS for the current fiscal year.
Separately, Zacks Investment Research raised NVE Corp. from a “sell” rating to a “hold” rating in a report on Wednesday, July 6th.
In other NVE Corp. news, Director Terrence Glarner sold 1,000 shares of the company’s stock in a transaction dated Thursday, August 11th. The shares were sold at an average price of $57.86, for a total value of $57,860.00. Following the sale, the director now owns 4,200 shares of the company’s stock, valued at $243,012. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 2.40% of the stock is currently owned by company insiders.
About NVE Corp.
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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