Punch & Associates Investment Management Inc. Sells 37,420 Shares of NVE Corporation $NVEC

Key Points

• Punch & Associates Investment Management Inc. has reduced its stake in NVE Corporation by 40.5%, now holding approximately 1.14% of the company worth $3.5 million after selling 37,420 shares in the first quarter.
• Other investors, such as MIRAE ASSET GLOBAL ETFS HOLDINGS and Canton Hathaway LLC, increased their positions in NVE during the same period, reflecting varied institutional interest in the company.
• NVE Corporation recently declared a quarterly dividend of $1.00, yielding 6.0%, with a payout ratio of 133.33% as of its latest earnings report.

Punch & Associates Investment Management Inc. cut its holdings in NVE Corporation (NASDAQ:NVEC - Free Report) by 40.5% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 55,055 shares of the semiconductor company's stock after selling 37,420 shares during the period. Punch & Associates Investment Management Inc. owned approximately 1.14% of NVE worth $3,509,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Royce & Associates LP increased its holdings in shares of NVE by 0.3% during the 1st quarter. Royce & Associates LP now owns 489,820 shares of the semiconductor company's stock valued at $31,221,000 after acquiring an additional 1,500 shares during the last quarter. Kayne Anderson Rudnick Investment Management LLC grew its holdings in NVE by 1.4% during the first quarter. Kayne Anderson Rudnick Investment Management LLC now owns 371,752 shares of the semiconductor company's stock valued at $23,695,000 after purchasing an additional 5,063 shares during the last quarter. Vanguard Group Inc. raised its position in shares of NVE by 2.3% in the first quarter. Vanguard Group Inc. now owns 283,690 shares of the semiconductor company's stock valued at $18,082,000 after purchasing an additional 6,507 shares during the period. Penserra Capital Management LLC lifted its stake in shares of NVE by 41.0% in 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 during the last quarter. Finally, Rhumbline Advisers boosted its holdings in shares of NVE by 34.4% during the 1st 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 during the period. Institutional investors and hedge funds own 65.95% of the company's stock.

NVE Price Performance

Shares of NASDAQ NVEC traded down $0.42 during mid-day trading on Wednesday, hitting $65.60. The company had a trading volume of 21,863 shares, compared to its average volume of 43,536. NVE Corporation has a 12 month low of $51.50 and a 12 month high of $88.50. The firm has a market cap of $317.31 million, a P/E ratio of 21.87 and a beta of 1.24. The business's 50-day simple moving average is $68.15 and its 200-day simple moving average is $66.86.

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 business also recently declared a quarterly dividend, which was paid on Friday, August 29th. Shareholders of record on Monday, August 4th were given a $1.00 dividend. This represents a $4.00 dividend on an annualized basis and a yield of 6.1%. The ex-dividend date was Monday, August 4th. NVE's dividend payout ratio is 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.