Kayne Anderson Rudnick Investment Management LLC Sells 8,617 Shares of NVE Co. (NASDAQ:NVEC)

Kayne Anderson Rudnick Investment Management LLC cut its position in shares of NVE Co. (NASDAQ:NVEC) by 1.9% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 436,324 shares of the semiconductor company’s stock after selling 8,617 shares during the period. Kayne Anderson Rudnick Investment Management LLC owned about 9.03% of NVE worth $32,589,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Private Advisor Group LLC increased its holdings in NVE by 2.4% in the 1st quarter. Private Advisor Group LLC now owns 5,340 shares of the semiconductor company’s stock valued at $482,000 after buying an additional 125 shares during the period. Russell Investments Group Ltd. raised its position in NVE by 0.7% in the first quarter. Russell Investments Group Ltd. now owns 28,734 shares of the semiconductor company’s stock worth $2,591,000 after purchasing an additional 191 shares in the last quarter. Price T Rowe Associates Inc. MD boosted its holdings in NVE by 3.1% during the first quarter. Price T Rowe Associates Inc. MD now owns 7,966 shares of the semiconductor company’s stock valued at $719,000 after purchasing an additional 237 shares in the last quarter. Isthmus Partners LLC grew its stake in shares of NVE by 0.6% in the 2nd quarter. Isthmus Partners LLC now owns 51,491 shares of the semiconductor company’s stock valued at $3,902,000 after purchasing an additional 325 shares during the period. Finally, Silverberg Bernstein Capital Management LLC grew its stake in shares of NVE by 1.4% in the 2nd quarter. Silverberg Bernstein Capital Management LLC now owns 36,168 shares of the semiconductor company’s stock valued at $2,701,000 after purchasing an additional 500 shares during the period. 65.95% of the stock is currently owned by institutional investors and hedge funds.

NVE Price Performance

NVE stock opened at $77.17 on Friday. The business has a 50 day simple moving average of $80.51 and a 200 day simple moving average of $79.51. The company has a market capitalization of $372.73 million, a PE ratio of 21.74 and a beta of 1.14. NVE Co. has a one year low of $64.14 and a one year high of $90.24.

NVE (NASDAQ:NVEC) last issued its quarterly earnings data on Wednesday, July 17th. The semiconductor company reported $0.85 earnings per share (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 during the quarter.

NVE Announces Dividend

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

Insider Transactions at NVE

In other news, Director Terrence Glarner sold 344 shares of the business’s stock in a transaction that occurred on Thursday, August 15th. The stock was sold at an average price of $78.71, for a total value of $27,076.24. Following the transaction, the director now directly owns 1,200 shares of the company’s stock, valued at approximately $94,452. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 1.90% 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.