Russell Investments Group Ltd. Has $3.89 Million Stake in NVE Corporation $NVEC

Key Points

• Russell Investments Group Ltd. increased its holdings in NVE Corporation by 14.2% in the first quarter, owning 61,013 shares valued at approximately $3.89 million.
• NVE Corporation recently reported a quarterly earnings per share (EPS) of $0.74 and a revenue of $6.11 million, demonstrating a robust net margin of 57.71%.
• The company declared a quarterly dividend of $1.00 per share, resulting in a 6.0% yield, with a payout ratio of 133.33%.

Russell Investments Group Ltd. lifted its position in NVE Corporation (NASDAQ:NVEC - Free Report) by 14.2% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 61,013 shares of the semiconductor company's stock after acquiring an additional 7,585 shares during the period. Russell Investments Group Ltd. owned about 1.26% of NVE worth $3,889,000 as of its most recent SEC filing.

Several other institutional investors have also made changes to their positions in NVEC. Wells Fargo & Company MN increased its position in shares of NVE by 1.8% in the fourth quarter. Wells Fargo & Company MN now owns 23,332 shares of the semiconductor company's stock worth $1,900,000 after acquiring an additional 423 shares in the last quarter. Envestnet Asset Management Inc. grew its stake in NVE by 3.4% during the 4th quarter. Envestnet Asset Management Inc. now owns 8,980 shares of the semiconductor company's stock valued at $731,000 after acquiring an additional 297 shares in the last quarter. Raymond James Financial Inc. purchased a new position in NVE during the 4th quarter valued at about $1,486,000. Barclays PLC grew its stake in NVE by 10.4% during the 4th quarter. Barclays PLC now owns 7,579 shares of the semiconductor company's stock valued at $617,000 after acquiring an additional 716 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD grew its stake in NVE by 14.6% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 7,363 shares of the semiconductor company's stock valued at $600,000 after acquiring an additional 939 shares in the last quarter. 65.95% of the stock is owned by hedge funds and other institutional investors.

NVE Trading Up 1.9%

NASDAQ:NVEC traded up $1.25 on Thursday, hitting $66.01. 25,955 shares of the company's stock traded hands, compared to its average volume of 51,005. NVE Corporation has a 1 year low of $51.50 and a 1 year high of $88.50. The firm has a 50-day moving average price of $69.34 and a 200-day moving average price of $67.41. The company has a market cap of $319.49 million, a PE ratio of 22.00 and a beta of 1.19.

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

NVE Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, August 29th. Stockholders of record on Monday, August 4th will be issued a dividend of $1.00 per share. This represents a $4.00 annualized dividend and a dividend yield of 6.1%. The ex-dividend date is 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.