NVE Corporation (NVEC) Holdings Reduced by Bahl & Gaynor Inc.
Bahl & Gaynor Inc. decreased its holdings in NVE Corporation (NASDAQ:NVEC) by 2.0% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 22,371 shares of the semiconductor company’s stock after selling 465 shares during the quarter. Bahl & Gaynor Inc. owned approximately 0.46% of NVE Corporation worth $1,598,000 at the end of the most recent quarter.
Other institutional investors and hedge funds have also bought and sold shares of the company. Credit Suisse AG grew its holdings in NVE Corporation by 165.1% in the 1st quarter. Credit Suisse AG now owns 7,835 shares of the semiconductor company’s stock valued at $649,000 after buying an additional 4,879 shares during the period. Hillsdale Investment Management Inc. purchased a new stake in NVE Corporation in the 1st quarter valued at about $248,000. Oxford Asset Management purchased a new stake in NVE Corporation in the 1st quarter valued at about $1,491,000. Oppenheimer & Co. Inc. purchased a new stake in NVE Corporation in the 1st quarter valued at about $397,000. Finally, Envestnet Asset Management Inc. grew its holdings in NVE Corporation by 19.5% in the 1st 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. Institutional investors own 71.44% of the company’s stock.
Several analysts have commented on NVEC shares. Craig Hallum cut NVE Corporation from a “buy” rating to a “hold” rating and set a $79.00 price target for the company. in a report on Thursday, July 20th. They noted that the move was a valuation call. BidaskClub cut NVE Corporation from a “hold” rating to a “sell” rating in a report on Friday, July 28th. Finally, Zacks Investment Research upgraded NVE Corporation from a “sell” rating to a “hold” rating in a report on Wednesday, July 12th.
NVE Corporation (NVEC) traded down 1.20% during mid-day trading on Friday, reaching $73.52. The company’s stock had a trading volume of 28,997 shares. The firm has a 50-day moving average of $74.62 and a 200 day moving average of $78.70. NVE Corporation has a 1-year low of $55.00 and a 1-year high of $88.34. The firm has a market capitalization of $355.91 million, a price-to-earnings ratio of 27.13 and a beta of 1.22.
NVE Corporation (NASDAQ:NVEC) last posted its quarterly earnings results on Wednesday, July 19th. The semiconductor company reported $0.68 earnings per share for the quarter, beating the consensus estimate 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%. Equities analysts expect that NVE Corporation will post $2.72 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which was paid on Thursday, August 31st. Investors of record on Monday, July 31st were given a dividend of $1.00 per share. This represents a $4.00 annualized dividend and a yield of 5.44%. The ex-dividend date was Thursday, July 27th. NVE Corporation’s payout ratio is 148.15%.
NVE Corporation 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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