Rhumbline Advisers Has $3.65 Million Stake in NVE Corporation $NVEC

Rhumbline Advisers cut its stake in NVE Corporation (NASDAQ:NVEC) by 31.2% in the third quarter, Holdings Channel.com reports. The firm owned 55,968 shares of the semiconductor company’s stock after selling 25,342 shares during the quarter. Rhumbline Advisers’ holdings in NVE were worth $3,653,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in shares of NVE by 5.7% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 2,873 shares of the semiconductor company’s stock worth $183,000 after buying an additional 156 shares during the period. Jane Street Group LLC bought a new stake in NVE in the 1st quarter valued at approximately $351,000. Handelsbanken Fonder AB acquired a new position in NVE during the 2nd quarter worth approximately $211,000. Isthmus Partners LLC boosted its position in NVE by 0.6% during the 2nd quarter. Isthmus Partners LLC now owns 43,812 shares of the semiconductor company’s stock worth $3,225,000 after acquiring an additional 245 shares during the last quarter. Finally, State of Tennessee Department of Treasury grew its stake in shares of NVE by 137.4% during the 2nd quarter. State of Tennessee Department of Treasury now owns 6,596 shares of the semiconductor company’s stock worth $486,000 after acquiring an additional 3,818 shares in the last quarter. Institutional investors and hedge funds own 65.95% of the company’s stock.

Insider Buying and Selling

In other NVE news, CEO Daniel A. Baker sold 1,155 shares of the business’s stock in a transaction that occurred on Tuesday, January 27th. The stock was sold at an average price of $74.04, for a total transaction of $85,516.20. Following the transaction, the chief executive officer owned 60,031 shares of the company’s stock, valued at $4,444,695.24. The trade was a 1.89% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 1.90% of the company’s stock.

Wall Street Analyst Weigh In

Separately, Weiss Ratings reaffirmed a “hold (c)” rating on shares of NVE in a research report on Monday, December 29th. One analyst has rated the stock with a Hold rating, Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold”.

NVE Trading Up 3.3%

Shares of NVEC opened at $71.38 on Thursday. The company’s fifty day simple moving average is $66.18 and its 200 day simple moving average is $66.42. NVE Corporation has a 1-year low of $51.50 and a 1-year high of $82.30. The company has a market cap of $345.48 million, a price-to-earnings ratio of 24.45 and a beta of 1.28.

NVE (NASDAQ:NVEC) last announced its quarterly earnings results on Wednesday, January 21st. The semiconductor company reported $0.70 EPS for the quarter. NVE had a net margin of 54.59% and a return on equity of 23.47%. The firm had revenue of $6.22 million during the quarter.

NVE Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, February 27th. Investors of record on Monday, February 2nd will be issued a dividend of $1.00 per share. The ex-dividend date is Monday, February 2nd. This represents a $4.00 dividend on an annualized basis and a yield of 5.6%. NVE’s dividend payout ratio (DPR) is presently 136.99%.

About NVE

NVE Corporation (NASDAQ:NVEC) is a technology company specializing in the development, manufacturing, and marketing of spintronic products. The company’s core expertise lies in magnetoresistive sensing and magnetic-field-based digital isolation, leveraging patented spin-valve and tunneling magnetoresistance technologies to deliver high-performance, low-power solutions.

NVE’s product portfolio includes magnetic sensors for current, position, and angle sensing applications, as well as micro-isolators and digital isolators that provide galvanic isolation in industrial, automotive, medical, instrumentation, and consumer electronics systems.