Kayne Anderson Rudnick Investment Management LLC Grows Stock Position in NVE Corporation $NVEC

Key Points

• Kayne Anderson Rudnick Investment Management LLC has increased its position in NVE Corporation by 1.4%, now holding approximately 7.69% of the company with a value of $23.7 million.
• NVE Corporation recently reported earnings of $0.74 EPS for the last quarter and has a net margin of 57.71% and a return on equity of 23.16%.
• The company announced a quarterly dividend of $1.00, representing an annualized yield of 6.0%, with a payout ratio of 133.33%.

Kayne Anderson Rudnick Investment Management LLC boosted its position in NVE Corporation (NASDAQ:NVEC - Free Report) by 1.4% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 371,752 shares of the semiconductor company's stock after purchasing an additional 5,063 shares during the quarter. Kayne Anderson Rudnick Investment Management LLC owned about 7.69% of NVE worth $23,695,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also recently added to or reduced their stakes in the company. Royce & Associates LP raised its stake in NVE by 0.3% in the 1st quarter. Royce & Associates LP now owns 489,820 shares of the semiconductor company's stock valued at $31,221,000 after purchasing an additional 1,500 shares during the last quarter. Vanguard Group Inc. grew its holdings in NVE by 2.3% in the 1st quarter. Vanguard Group Inc. now owns 283,690 shares of the semiconductor company's stock valued at $18,082,000 after buying an additional 6,507 shares during the period. Penserra Capital Management LLC grew its holdings in NVE by 41.0% in the 1st quarter. Penserra Capital Management LLC now owns 187,037 shares of the semiconductor company's stock valued at $11,921,000 after buying an additional 54,404 shares during the period. Rhumbline Advisers grew its holdings in NVE by 34.4% in the 1st quarter. Rhumbline Advisers now owns 78,419 shares of the semiconductor company's stock valued at $4,998,000 after buying an additional 20,061 shares during the period. Finally, Universal Beteiligungs und Servicegesellschaft mbH purchased a new stake in NVE in the 1st quarter valued at about $3,908,000. Institutional investors and hedge funds own 65.95% of the company's stock.

NVE Trading Down 2.2%

NVEC traded down $1.43 during midday trading on Friday, hitting $64.58. The company's stock had a trading volume of 27,860 shares, compared to its average volume of 48,540. The firm has a market cap of $312.57 million, a P/E ratio of 21.53 and a beta of 1.19. The firm has a 50-day moving average price of $69.24 and a two-hundred day moving average price of $67.33. NVE Corporation has a 52-week low of $51.50 and a 52-week high of $88.50.

NVE (NASDAQ:NVEC - Get Free Report) last posted its quarterly earnings results on Wednesday, July 23rd. The semiconductor company reported $0.74 EPS for the quarter. NVE had a return on equity of 23.16% and a net margin of 57.71%.The company had revenue of $6.11 million during 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 issued a dividend of $1.00 per share. The ex-dividend date was Monday, August 4th. This represents a $4.00 dividend on an annualized basis and a dividend yield of 6.2%. NVE's payout ratio is presently 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.