Prescott Group Capital Management L.L.C. Invests $259,000 in NVE Co. (NASDAQ:NVEC)

Prescott Group Capital Management L.L.C. bought a new position in shares of NVE Co. (NASDAQ:NVEC – Get Rating) in the fourth quarter, HoldingsChannel reports. The institutional investor bought 4,000 shares of the semiconductor company’s stock, valued at approximately $259,000.

Other hedge funds also recently modified their holdings of the company. Cowen Prime Advisors LLC lifted its stake in shares of NVE by 109.9% during the 4th quarter. Cowen Prime Advisors LLC now owns 39,213 shares of the semiconductor company’s stock worth $2,539,000 after buying an additional 20,533 shares during the last quarter. Acuitas Investments LLC bought a new position in NVE during the fourth quarter worth about $714,000. Merrion Investment Management Co LLC increased its position in NVE by 1.1% during the fourth quarter. Merrion Investment Management Co LLC now owns 42,955 shares of the semiconductor company’s stock worth $2,781,000 after acquiring an additional 450 shares during the period. Penn Mutual Asset Management LLC increased its position in NVE by 6.0% during the third quarter. Penn Mutual Asset Management LLC now owns 39,718 shares of the semiconductor company’s stock worth $1,853,000 after acquiring an additional 2,250 shares during the period. Finally, Apollon Wealth Management LLC bought a new position in NVE during the third quarter worth about $244,000. Institutional investors and hedge funds own 53.27% of the company’s stock.

Analysts Set New Price Targets

Separately, StockNews.com assumed coverage on shares of NVE in a research report on Thursday, May 18th. They set a “buy” rating on the stock.

NVE Stock Performance

NASDAQ:NVEC traded up $1.96 during mid-day trading on Friday, reaching $89.81. 12,665 shares of the company’s stock were exchanged, compared to its average volume of 32,981. NVE Co. has a one year low of $43.35 and a one year high of $91.50. The firm has a market capitalization of $433.78 million, a PE ratio of 18.69 and a beta of 1.26. The business’s fifty day simple moving average is $81.72 and its two-hundred day simple moving average is $74.20.

NVE Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, May 31st. Investors of record on Monday, May 15th will be given a dividend of $1.00 per share. This represents a $4.00 dividend on an annualized basis and a yield of 4.45%. The ex-dividend date of this dividend is Friday, May 12th. NVE’s dividend payout ratio is 85.11%.

Insider Buying and Selling

In other NVE news, Director Patricia M. Hollister sold 2,000 shares of the firm’s stock in a transaction dated Monday, May 15th. The shares were sold at an average price of $86.20, for a total value of $172,400.00. Following the transaction, the director now directly owns 1,040 shares of the company’s stock, valued at approximately $89,648. The transaction was disclosed in a legal filing with the SEC, which is available through this link. In other NVE news, Director Patricia M. Hollister sold 2,000 shares of the firm’s stock in a transaction dated Monday, May 15th. The shares were sold at an average price of $86.20, for a total value of $172,400.00. Following the transaction, the director now directly owns 1,040 shares of the company’s stock, valued at approximately $89,648. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Daniel A. Baker sold 20,000 shares of the firm’s stock in a transaction dated Wednesday, May 10th. The shares were sold at an average price of $87.17, for a total transaction of $1,743,400.00. Following the completion of the transaction, the chief executive officer now directly owns 66,186 shares in the company, valued at $5,769,433.62. The disclosure for this sale can be found here. Over the last three months, insiders have sold 23,000 shares of company stock valued at $1,993,960. 2.30% of the stock is owned by company insiders.

About NVE

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NVE Corp. engages in the development and sale of devices that use spintronics, a nanotechnology that relies on electron spin rather than electron charge to acquire, store, and transmit information. It offers Isolators, sensors, and Power ICs. The company was founded by James M. Daughton in 1989 and is headquartered in Eden Prairie, MN.