Victory Capital Management Inc. Sells 3,976 Shares of NVE Co. (NASDAQ:NVEC)

Victory Capital Management Inc. decreased its holdings in NVE Co. (NASDAQ:NVEC) by 25.7% during the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 11,511 shares of the semiconductor company’s stock after selling 3,976 shares during the period. Victory Capital Management Inc. owned about 0.24% of NVE worth $860,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. SYSTM Wealth Solutions LLC bought a new stake in NVE in the first quarter valued at approximately $47,000. Precision Wealth Strategies LLC acquired a new position in shares of NVE in the first quarter valued at approximately $206,000. Sequoia Financial Advisors LLC acquired a new position in shares of NVE in the second quarter valued at approximately $238,000. Principal Financial Group Inc. grew its position in shares of NVE by 13.0% in the second quarter. Principal Financial Group Inc. now owns 5,519 shares of the semiconductor company’s stock valued at $412,000 after purchasing an additional 637 shares during the last quarter. Finally, Kings Path Partners LLC acquired a new position in shares of NVE in the second quarter valued at approximately $443,000. Institutional investors own 65.95% of the company’s stock.

Insider Buying and Selling

In related news, Director Terrence Glarner sold 344 shares of the stock in a transaction that occurred on 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 owns 1,200 shares of the company’s stock, valued at $94,452. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 1.90% of the stock is currently owned by company insiders.

NVE Trading Down 2.6 %

NVE stock opened at $77.17 on Friday. NVE Co. has a 12 month low of $64.14 and a 12 month high of $90.24. The stock’s 50 day moving average is $80.51 and its 200-day moving average is $79.59. The company has a market capitalization of $372.73 million, a price-to-earnings ratio of 22.26 and a beta of 1.14.

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

NVE Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, August 30th. Investors of record on Monday, July 29th were given a dividend of $1.00 per share. This represents a $4.00 dividend on an annualized basis and a yield of 5.18%. The ex-dividend date of this dividend was Monday, July 29th. NVE’s dividend payout ratio is currently 112.68%.

NVE 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.