Bank of New York Mellon Corp Takes Position in NVE Corporation $NVEC

Key Points

• Bank of New York Mellon acquired 46,671 shares of NVE Corporation in the second quarter, worth approximately $4.9 million and representing about 0.96% of the company. Institutional investors and hedge funds collectively own 65.95% of NVE.
• NVE reported quarterly revenue of $11.03 million and earnings of $1.32 per share, with a 57.64% net margin. The company also declared a $1.00 quarterly dividend, equivalent to a 4.0% annualized yield.
• Analyst sentiment improved, with Wall Street Zen and Weiss Ratings upgrading NVE to “buy”; MarketBeat reports a consensus “Buy” rating. However, insiders sold 27,231 shares worth about $3.1 million over the past 90 days.

Bank of New York Mellon Corp acquired a new position in shares of NVE Corporation (NASDAQ:NVEC - Free Report) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 46,671 shares of the semiconductor company's stock, valued at approximately $4,879,000. Bank of New York Mellon Corp owned about 0.96% of NVE as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also modified their holdings of the company. Handelsbanken Fonder AB raised its stake in shares of NVE by 62.8% in the fourth quarter. Handelsbanken Fonder AB now owns 102,592 shares of the semiconductor company's stock worth $6,087,000 after acquiring an additional 39,565 shares during the last quarter. State of Tennessee Department of Treasury raised its position in shares of NVE by 137.4% during the second quarter. State of Tennessee Department of Treasury now owns 6,596 shares of the semiconductor company's stock worth $486,000 after purchasing an additional 3,818 shares during the period. Jane Street Group LLC acquired a new position in NVE in the 1st quarter worth $351,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in NVE by 5.7% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 2,873 shares of the semiconductor company's stock valued at $183,000 after buying an additional 156 shares during the last quarter. Finally, McMillan Office Inc. acquired a new stake in NVE in the fourth quarter valued at $30,000. 65.95% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, Director Daniel Baker sold 4,000 shares of NVE stock in a transaction on Thursday, August 27th. The stock was sold at an average price of $109.50, for a total transaction of $438,000.00. Following the completion of the sale, the director directly owned 39,072 shares in the company, valued at approximately $4,278,384. This trade represents a 9.29% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In the last 90 days, insiders sold 27,231 shares of company stock worth $3,103,727. Corporate insiders own 2.10% of the company's stock.

NVE Price Performance

Shares of NASDAQ NVEC opened at $100.40 on Friday. The company's 50-day moving average is $106.38 and its 200 day moving average is $91.04. The stock has a market capitalization of $485.94 million, a P/E ratio of 26.99 and a beta of 1.36. NVE Corporation has a 1 year low of $57.21 and a 1 year high of $135.00.

NVE (NASDAQ:NVEC - Get Free Report) last posted its quarterly earnings results on Wednesday, July 22nd. The semiconductor company reported $1.32 earnings per share (EPS) for the quarter. NVE had a return on equity of 30.53% and a net margin of 57.64%.The firm had revenue of $11.03 million during the quarter.

NVE Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, August 31st. Shareholders of record on Monday, August 3rd were given a dividend of $1.00 per share. The ex-dividend date was Monday, August 3rd. This represents a $4.00 annualized dividend and a yield of 4.0%. NVE's dividend payout ratio (DPR) is 107.53%.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on the company. Wall Street Zen upgraded NVE from a "hold" rating to a "buy" rating in a research note on Sunday, August 23rd. Weiss Ratings raised NVE from a "hold (c+)" rating to a "buy (b-)" rating in a research report on Thursday, July 23rd. One investment analyst has rated the stock with a Buy rating, According to MarketBeat.com, NVE presently has a consensus rating of "Buy".

About NVE

NVE Corporation NASDAQ: NVEC is a technology company specializing in the development, manufacturing, and marketing of spintronic products. The company's core expertise lies in magnetoresistive sensing and magnetic-field-based digital isolation, leveraging patented spin-valve and tunneling magnetoresistance technologies to deliver high-performance, low-power solutions.

NVE's product portfolio includes magnetic sensors for current, position, and angle sensing applications, as well as micro-isolators and digital isolators that provide galvanic isolation in industrial, automotive, medical, instrumentation, and consumer electronics systems.

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