Short Interest in NVE Co. (NASDAQ:NVEC) Decreases By 13.0%

NVE Co. (NASDAQ:NVEC) was the target of a significant decrease in short interest in 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. Currently, 2.4% of the shares of the stock are sold short. Based on an average trading volume of 26,700 shares, the short-interest ratio is presently 4.3 days.

NVE Stock Performance

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

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

NVE Announces Dividend

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

Insiders Place Their Bets

In other news, Director Terrence Glarner sold 344 shares of the firm’s stock in a transaction dated Thursday, August 15th. The stock was sold at an average price of $78.71, for a total transaction of $27,076.24. Following the sale, the director now directly owns 1,200 shares in the company, valued at approximately $94,452. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 1.90% of the company’s stock.

Institutional Investors Weigh In On NVE

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. SYSTM Wealth Solutions LLC acquired a new position in NVE during the first quarter worth about $47,000. Precision Wealth Strategies LLC purchased a new stake in shares of NVE in the first quarter valued at approximately $206,000. Sequoia Financial Advisors LLC acquired a new stake in shares of NVE in the second quarter valued at approximately $238,000. Principal Financial Group Inc. lifted its position in NVE by 13.0% during the second quarter. Principal Financial Group Inc. now owns 5,519 shares of the semiconductor company’s stock worth $412,000 after buying an additional 637 shares in the last quarter. Finally, Kings Path Partners LLC acquired a new position in NVE during the second quarter worth $443,000. Institutional investors and hedge funds own 65.95% of the company’s stock.

NVE Company Profile

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.