Nuveen LLC Takes $876,000 Position in NVE Corporation $NVEC

Key Points

• Nuveen LLC acquired 13,749 shares of NVE Corporation, valued at approximately $876,000, representing about 0.28% ownership of the company.
• NVE Corporation announced a quarterly dividend of $1.00 per share, resulting in an annualized payment of $4.00 and a yield of 6.3%.
• The company's stock trades at $63.99, with a market cap of approximately $309.71 million and a PE ratio of 21.33.

Nuveen LLC acquired a new position in NVE Corporation (NASDAQ:NVEC - Free Report) during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 13,749 shares of the semiconductor company's stock, valued at approximately $876,000. Nuveen LLC owned about 0.28% of NVE at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also modified their holdings of NVEC. Universal Beteiligungs und Servicegesellschaft mbH acquired a new stake in NVE during the first quarter worth $3,908,000. Penserra Capital Management LLC boosted its stake in NVE by 41.0% during the first quarter. Penserra Capital Management LLC now owns 187,037 shares of the semiconductor company's stock worth $11,921,000 after buying an additional 54,404 shares in the last quarter. Rhumbline Advisers boosted its stake in NVE by 34.4% during the first quarter. Rhumbline Advisers now owns 78,419 shares of the semiconductor company's stock worth $4,998,000 after buying an additional 20,061 shares in the last quarter. Round Rock Advisors LLC boosted its stake in NVE by 155.6% during the first quarter. Round Rock Advisors LLC now owns 16,806 shares of the semiconductor company's stock worth $1,071,000 after buying an additional 10,231 shares in the last quarter. Finally, GAMMA Investing LLC boosted its stake in NVE by 9,289.2% during the first quarter. GAMMA Investing LLC now owns 6,948 shares of the semiconductor company's stock worth $443,000 after buying an additional 6,874 shares in the last quarter. Institutional investors and hedge funds own 65.95% of the company's stock.

NVE Stock Up 2.2%

NVEC traded up $1.46 during trading on Friday, reaching $66.72. 42,401 shares of the company's stock were exchanged, compared to its average volume of 40,612. NVE Corporation has a fifty-two week low of $51.50 and a fifty-two week high of $88.50. The business has a 50 day moving average price of $68.45 and a 200 day moving average price of $66.91. The company has a market capitalization of $322.92 million, a P/E ratio of 22.24 and a beta of 1.24.

NVE (NASDAQ:NVEC - Get Free Report) last posted its quarterly earnings results on Wednesday, July 23rd. The semiconductor company reported $0.74 earnings per share for the quarter. NVE had a net margin of 57.71% and a return on equity of 23.16%. The firm had revenue of $6.11 million for the quarter.

NVE Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, August 29th. Stockholders of record on Monday, August 4th were paid a $1.00 dividend. This represents a $4.00 annualized dividend and a dividend yield of 6.0%. The ex-dividend date was Monday, August 4th. NVE's payout ratio is currently 133.33%.

About NVE

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.