Dimensional Fund Advisors LP Buys 14,329 Shares of NVE Corporation (NVEC)
Dimensional Fund Advisors LP increased its stake in NVE Corporation (NASDAQ:NVEC) by 38.4% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 51,670 shares of the semiconductor company’s stock after buying an additional 14,329 shares during the period. Dimensional Fund Advisors LP owned about 1.07% of NVE Corporation worth $4,278,000 at the end of the most recent quarter.
A number of other institutional investors also recently added to or reduced their stakes in the company. Envestnet Asset Management Inc. raised its position in NVE Corporation by 19.5% in the first quarter. Envestnet Asset Management Inc. now owns 1,777 shares of the semiconductor company’s stock valued at $147,000 after buying an additional 290 shares during the period. Virginia Retirement Systems ET AL bought a new position in NVE Corporation during the first quarter valued at approximately $232,000. Spark Investment Management LLC bought a new position in NVE Corporation during the first quarter valued at approximately $240,000. American International Group Inc. raised its position in NVE Corporation by 6.9% in the first quarter. American International Group Inc. now owns 2,937 shares of the semiconductor company’s stock valued at $243,000 after buying an additional 190 shares during the period. Finally, Hillsdale Investment Management Inc. acquired a new position in shares of NVE Corporation during the first quarter worth about $248,000. 71.44% of the stock is currently owned by hedge funds and other institutional investors.
Shares of NVE Corporation (NASDAQ:NVEC) traded up 0.13% during trading on Tuesday, hitting $75.42. The company’s stock had a trading volume of 3,834 shares. NVE Corporation has a 1-year low of $55.00 and a 1-year high of $88.34. The firm’s 50 day moving average is $76.45 and its 200-day moving average is $78.87. The company has a market capitalization of $365.11 million, a P/E ratio of 27.83 and a beta of 1.21.
NVE Corporation (NASDAQ:NVEC) last announced its quarterly earnings results on Wednesday, July 19th. The semiconductor company reported $0.68 earnings per share for the quarter, topping analysts’ consensus estimates of $0.66 by $0.02. The firm had revenue of $7.61 million for the quarter. NVE Corporation had a return on equity of 14.02% and a net margin of 44.87%. Analysts forecast that NVE Corporation will post $2.72 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Thursday, August 31st. Shareholders of record on Monday, July 31st will be given a dividend of $1.00 per share. This represents a $4.00 dividend on an annualized basis and a yield of 5.31%. The ex-dividend date is Thursday, July 27th. NVE Corporation’s dividend payout ratio (DPR) is presently 148.15%.
A number of equities analysts have issued reports on the company. Craig Hallum lowered NVE Corporation from a “buy” rating to a “hold” rating and set a $79.00 target price on the stock. in a research report on Thursday, July 20th. They noted that the move was a valuation call. Zacks Investment Research raised NVE Corporation from a “sell” rating to a “hold” rating in a research report on Wednesday, July 12th. Finally, BidaskClub lowered NVE Corporation from a “hold” rating to a “sell” rating in a research report on Friday, July 28th.
About NVE Corporation
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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