Rhumbline Advisers Has $3.18 Million Position in NVE Co. (NASDAQ:NVEC)

Rhumbline Advisers reduced its position in shares of NVE Co. (NASDAQ:NVEC) by 7.3% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 42,526 shares of the semiconductor company’s stock after selling 3,368 shares during the quarter. Rhumbline Advisers owned 0.88% of NVE worth $3,176,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in NVEC. SYSTM Wealth Solutions LLC purchased a new position in shares of NVE during the 1st quarter valued at $47,000. Precision Wealth Strategies LLC purchased a new position in shares of NVE during the 1st quarter valued at $206,000. Sequoia Financial Advisors LLC purchased a new position in shares of NVE during the 2nd quarter valued at $238,000. Private Advisor Group LLC grew its holdings in shares of NVE by 11.4% during the 4th quarter. Private Advisor Group LLC now owns 5,215 shares of the semiconductor company’s stock valued at $409,000 after acquiring an additional 534 shares in the last quarter. Finally, Principal Financial Group Inc. grew its holdings in shares of NVE by 13.0% during the 2nd quarter. Principal Financial Group Inc. now owns 5,519 shares of the semiconductor company’s stock valued at $412,000 after acquiring an additional 637 shares in the last quarter. 65.95% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, Director Terrence Glarner sold 344 shares of the company’s stock in a transaction 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 completion of the sale, the director now directly owns 1,200 shares in the company, valued at $94,452. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 1.90% of the stock is currently owned by corporate insiders.

NVE Stock Up 1.5 %

NVE stock opened at $76.47 on Wednesday. The company’s fifty day simple moving average is $80.25 and its 200-day simple moving average is $79.68. NVE Co. has a 12 month low of $64.14 and a 12 month high of $90.24. The stock has a market cap of $369.35 million, a P/E ratio of 21.51 and a beta of 1.14.

NVE (NASDAQ:NVEC) last posted its quarterly earnings results on Wednesday, July 17th. The semiconductor company reported $0.85 EPS for the quarter. The business 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 Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, August 30th. Investors of record on Monday, July 29th were issued a $1.00 dividend. This represents a $4.00 dividend on an annualized basis and a yield of 5.23%. The ex-dividend date was Monday, July 29th. NVE’s dividend payout ratio is presently 112.68%.

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.