Mitsubishi UFJ Kokusai Asset Management Co. Ltd. Buys 6,592 Shares of NVE Co. (NASDAQ:NVEC)

Mitsubishi UFJ Kokusai Asset Management Co. Ltd. lifted its stake in shares of NVE Co. (NASDAQ:NVEC) by 67.8% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 16,308 shares of the semiconductor company’s stock after purchasing an additional 6,592 shares during the quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. owned 0.34% of NVE worth $1,589,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Advisor Group Holdings Inc. grew its holdings in shares of NVE by 97.9% during the 1st quarter. Advisor Group Holdings Inc. now owns 768 shares of the semiconductor company’s stock valued at $41,000 after purchasing an additional 380 shares during the last quarter. Lazard Asset Management LLC bought a new stake in NVE during the 4th quarter worth approximately $81,000. BNP Paribas Arbitrage SNC grew its holdings in NVE by 17,720.0% during the 1st quarter. BNP Paribas Arbitrage SNC now owns 1,782 shares of the semiconductor company’s stock worth $148,000 after acquiring an additional 1,772 shares during the last quarter. Barclays PLC grew its holdings in NVE by 807.7% during the 4th quarter. Barclays PLC now owns 2,587 shares of the semiconductor company’s stock worth $168,000 after acquiring an additional 2,302 shares during the last quarter. Finally, Robeco Institutional Asset Management B.V. bought a new stake in NVE during the 1st quarter worth approximately $172,000. 64.06% of the stock is owned by institutional investors.

NVE Price Performance

NVEC opened at $71.97 on Monday. NVE Co. has a fifty-two week low of $61.48 and a fifty-two week high of $100.19. The firm has a market capitalization of $347.83 million, a price-to-earnings ratio of 16.10 and a beta of 1.19. The company’s 50 day moving average price is $76.08 and its two-hundred day moving average price is $83.48.

NVE (NASDAQ:NVEC) last posted its earnings results on Wednesday, October 18th. The semiconductor company reported $0.98 earnings per share for the quarter. NVE had a net margin of 59.71% and a return on equity of 32.77%. The firm had revenue of $7.13 million for the quarter.

NVE Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, November 30th. Stockholders of record on Monday, October 30th will be paid a $1.00 dividend. This represents a $4.00 dividend on an annualized basis and a dividend yield of 5.56%. The ex-dividend date of this dividend is Friday, October 27th. NVE’s dividend payout ratio is currently 89.49%.

Wall Street Analyst Weigh In

Separately, StockNews.com began coverage on shares of NVE in a report on Thursday, October 5th. They set a “hold” rating on the stock.

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.