NVE Co. (NASDAQ:NVEC) Short Interest Update

NVE Co. (NASDAQ:NVEC) was the target of a significant decrease in short interest during the month of September. As of September 15th, there was short interest totalling 113,900 shares, a decrease of 13.0% from the August 31st total of 130,900 shares. Approximately 2.4% of the company’s stock are sold short. Based on an average daily trading volume, of 26,700 shares, the days-to-cover ratio is currently 4.3 days.

NVE Price Performance

Shares of NVEC stock opened at $80.40 on Monday. The stock’s fifty day moving average price is $80.46 and its 200 day moving average price is $79.32. NVE has a 1-year low of $64.14 and a 1-year high of $90.24. The company has a market cap of $388.65 million, a price-to-earnings ratio of 22.65 and a beta of 1.14.

NVE (NASDAQ:NVEC) last posted its quarterly earnings data on Wednesday, July 17th. The semiconductor company reported $0.85 earnings per share (EPS) for the quarter. The firm had revenue of $6.78 million for the quarter. NVE had a net margin of 60.60% and a return on equity of 25.53%.

NVE Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, August 30th. Shareholders of record on Monday, July 29th were issued a $1.00 dividend. The ex-dividend date of this dividend was Monday, July 29th. This represents a $4.00 dividend on an annualized basis and a dividend yield of 4.98%. NVE’s dividend payout ratio is currently 112.68%.

Insider Buying and Selling at NVE

In other news, Director Terrence Glarner sold 344 shares of NVE stock in a transaction that occurred on Thursday, August 15th. The shares were sold at an average price of $78.71, for a total value of $27,076.24. Following the transaction, the director now owns 1,200 shares of the company’s stock, valued at approximately $94,452. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders own 1.90% of the company’s stock.

Institutional Investors Weigh In On NVE

A number of large investors have recently made changes to their positions in the stock. Norden Group LLC acquired a new stake in NVE during the 1st quarter worth about $1,365,000. Isthmus Partners LLC lifted its holdings in shares of NVE by 36.0% during the first quarter. Isthmus Partners LLC now owns 51,166 shares of the semiconductor company’s stock worth $4,614,000 after purchasing an additional 13,539 shares during the period. Cardinal Capital Management purchased a new stake in NVE in the first quarter valued at approximately $1,009,000. Oppenheimer & Close LLC acquired a new position in NVE in the 2nd quarter worth approximately $575,000. Finally, Foundry Partners LLC raised its position in NVE by 27.4% during the 1st quarter. Foundry Partners LLC now owns 35,585 shares of the semiconductor company’s stock worth $3,209,000 after buying an additional 7,660 shares during the last quarter. 65.95% of the stock is owned by hedge funds and other institutional investors.

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.