NVE (NASDAQ:NVEC) Stock Passes Above 200-Day Moving Average – Here’s Why

Shares of NVE Co. (NASDAQ:NVEC) crossed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $79.09 and traded as high as $80.46. NVE shares last traded at $79.65, with a volume of 16,712 shares.

NVE Price Performance

The company has a market capitalization of $385.03 million, a PE ratio of 23.85 and a beta of 1.12. The stock has a 50-day simple moving average of $79.39 and a 200 day simple moving average of $79.09.

NVE Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, November 29th. Stockholders of record on Monday, November 4th were given a $1.00 dividend. The ex-dividend date was Monday, November 4th. This represents a $4.00 annualized dividend and a dividend yield of 5.02%. NVE’s dividend payout ratio is presently 119.76%.

Hedge Funds Weigh In On NVE

A number of institutional investors have recently made changes to their positions in NVEC. Geode Capital Management LLC grew its holdings in shares of NVE by 7.8% during the third quarter. Geode Capital Management LLC now owns 134,613 shares of the semiconductor company’s stock worth $10,754,000 after buying an additional 9,763 shares in the last quarter. Barclays PLC lifted its stake in shares of NVE by 317.0% during the 3rd quarter. Barclays PLC now owns 6,863 shares of the semiconductor company’s stock worth $549,000 after purchasing an additional 5,217 shares during the period. State Street Corp boosted its holdings in shares of NVE by 10.2% during the third quarter. State Street Corp now owns 161,932 shares of the semiconductor company’s stock worth $12,934,000 after purchasing an additional 14,959 shares during the last quarter. GSA Capital Partners LLP purchased a new position in NVE during the third quarter worth about $761,000. Finally, FMR LLC boosted its stake in NVE by 870.3% in the 3rd quarter. FMR LLC now owns 2,154 shares of the semiconductor company’s stock worth $172,000 after buying an additional 1,932 shares during the last quarter. 65.95% of the stock is owned by institutional investors and hedge funds.

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.