NVE Co. (NASDAQ:NVEC) Short Interest Update

NVE Co. (NASDAQ:NVEC) was the recipient of a significant decline in short interest in September. As of September 15th, there was short interest totalling 113,900 shares, a decline of 13.0% from the August 31st total of 130,900 shares. Currently, 2.4% of the company’s stock are short sold. Based on an average trading volume of 26,700 shares, the days-to-cover ratio is currently 4.3 days.

Insider Activity

In related news, Director Terrence Glarner sold 344 shares of the stock in a transaction on Thursday, August 15th. The stock was sold at an average price of $78.71, for a total value of $27,076.24. Following the transaction, the director now directly owns 1,200 shares in the company, valued at approximately $94,452. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Corporate insiders own 1.90% of the company’s stock.

Institutional Trading of NVE

Institutional investors have recently made changes to their positions in the company. SYSTM Wealth Solutions LLC bought a new position in shares of NVE during the first quarter valued at about $47,000. Precision Wealth Strategies LLC purchased a new position in shares of NVE in the 1st quarter worth approximately $206,000. Sequoia Financial Advisors LLC purchased a new position in shares of NVE in the 2nd quarter worth approximately $238,000. Principal Financial Group Inc. grew its holdings in shares of NVE by 13.0% in the second quarter. Principal Financial Group Inc. now owns 5,519 shares of the semiconductor company’s stock valued at $412,000 after acquiring an additional 637 shares in the last quarter. Finally, Kings Path Partners LLC purchased a new stake in shares of NVE during the second quarter valued at approximately $443,000. Institutional investors own 65.95% of the company’s stock.

NVE Stock Performance

Shares of NASDAQ NVEC opened at $80.40 on Friday. The stock has a market cap of $388.33 million, a price-to-earnings ratio of 22.65 and a beta of 1.14. NVE has a fifty-two week low of $64.14 and a fifty-two week high of $90.24. The firm’s 50-day simple moving average is $80.46 and its 200 day simple moving average is $79.36.

NVE (NASDAQ:NVEC) last posted its earnings results on Wednesday, July 17th. The semiconductor company reported $0.85 earnings per share for the quarter. The company had revenue of $6.78 million for the quarter. NVE had a return on equity of 25.53% and a net margin of 60.60%.

NVE Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, August 30th. Shareholders of record on Monday, July 29th were issued a dividend of $1.00 per share. This represents a $4.00 dividend on an annualized basis and a yield of 4.98%. The ex-dividend date of this dividend was Monday, July 29th. NVE’s dividend payout ratio is 112.68%.

NVE Company Profile

NVE Corporation develops and sells devices that use spintronics, a nanotechnology that relies on electron spin to acquire, store, and transmit information in the United States and internationally. The company manufactures spintronic products, including sensors and couplers for use in acquiring and transmitting data.