NVE Corp (NASDAQ:NVEC) announced a quarterly dividend on Tuesday, October 16th, Wall Street Journal reports. Shareholders of record on Monday, October 29th will be paid a dividend of 1.00 per share by the semiconductor company on Friday, November 30th. This represents a $4.00 annualized dividend and a dividend yield of 4.36%. The ex-dividend date is Friday, October 26th.

NVE has a payout ratio of 148.1% indicating that the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments.

Shares of NVE stock opened at $91.81 on Friday. The firm has a market cap of $444.73 million, a price-to-earnings ratio of 28.08 and a beta of 1.08. NVE has a 52 week low of $68.50 and a 52 week high of $135.00.

NVE (NASDAQ:NVEC) last issued its earnings results on Monday, October 15th. The semiconductor company reported $0.88 EPS for the quarter. NVE had a net margin of 52.49% and a return on equity of 18.42%. The company had revenue of $7.51 million during the quarter.

In related news, Director Terrence Glarner sold 2,000 shares of the company’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 completion of the sale, the director now owns 3,200 shares in the company, valued at approximately $368,000. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CFO Curt A. Reynders sold 1,154 shares of the company’s stock in a transaction on Wednesday, August 29th. The shares were sold at an average price of $118.71, for a total transaction of $136,991.34. Following the completion of the sale, the chief financial officer now owns 7,575 shares of the company’s stock, valued at approximately $899,228.25. The disclosure for this sale can be found here. In the last 90 days, insiders sold 3,425 shares of company stock valued at $399,411. 2.40% of the stock is owned by corporate insiders.

NVEC has been the subject of a number of recent analyst reports. BidaskClub upgraded shares of NVE from a “hold” rating to a “buy” rating in a research report on Friday, August 10th. ValuEngine cut shares of NVE from a “buy” rating to a “hold” rating in a research report on Monday, October 8th.

About NVE

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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Dividend History for NVE (NASDAQ:NVEC)

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