Neuberger Berman Group LLC Has $1.24 Million Holdings in NVE Corporation (NVEC)
Neuberger Berman Group LLC raised its stake in NVE Corporation (NASDAQ:NVEC) by 3.2% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 16,107 shares of the semiconductor company’s stock after acquiring an additional 506 shares during the quarter. Neuberger Berman Group LLC owned approximately 0.33% of NVE Corporation worth $1,240,000 at the end of the most recent reporting period.
A number of other large investors also recently made changes to their positions in the business. Teachers Advisors LLC lifted its holdings in NVE Corporation by 0.4% in the fourth quarter. Teachers Advisors LLC now owns 7,604 shares of the semiconductor company’s stock valued at $543,000 after acquiring an additional 27 shares during the period. Isthmus Partners LLC raised its stake in shares of NVE Corporation by 0.9% during the 1st quarter. Isthmus Partners LLC now owns 10,741 shares of the semiconductor company’s stock worth $889,000 after buying an additional 95 shares during the period. Metropolitan Life Insurance Co. NY raised its stake in shares of NVE Corporation by 3.1% during the 1st quarter. Metropolitan Life Insurance Co. NY now owns 3,503 shares of the semiconductor company’s stock worth $290,000 after buying an additional 105 shares during the period. American International Group Inc. raised its stake in shares of NVE Corporation by 6.9% during the 1st quarter. American International Group Inc. now owns 2,937 shares of the semiconductor company’s stock worth $243,000 after buying an additional 190 shares during the period. Finally, Envestnet Asset Management Inc. raised its stake in shares of NVE Corporation by 19.5% during the 1st quarter. Envestnet Asset Management Inc. now owns 1,777 shares of the semiconductor company’s stock worth $147,000 after buying an additional 290 shares during the period. 71.44% of the stock is owned by institutional investors.
Several research analysts have recently weighed in on the company. Zacks Investment Research raised NVE Corporation from a “sell” rating to a “hold” rating in a research note on Wednesday, July 12th. BidaskClub cut NVE Corporation from a “hold” rating to a “sell” rating in a research report on Friday, July 28th. Finally, 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 research report on Thursday, July 20th. They noted that the move was a valuation call.
Shares of NVE Corporation (NVEC) opened at 73.52 on Monday. The firm has a 50-day moving average price of $74.62 and a 200 day moving average price of $78.70. NVE Corporation has a one year low of $55.00 and a one year high of $88.34. The stock has a market capitalization of $355.91 million, a PE ratio of 27.13 and a beta of 1.22.
NVE Corporation (NASDAQ:NVEC) last released its quarterly earnings results on Wednesday, July 19th. The semiconductor company reported $0.68 earnings per share for the quarter, topping the consensus estimate of $0.66 by $0.02. The company had revenue of $7.61 million during the quarter. NVE Corporation had a return on equity of 14.02% and a net margin of 44.87%. On average, equities analysts expect that NVE Corporation will post $2.72 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Thursday, August 31st. Shareholders 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 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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