2,296 Shares in NVE Co. (NASDAQ:NVEC) Bought by American International Group Inc.

American International Group Inc. purchased a new stake in shares of NVE Co. (NASDAQ:NVEC) in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 2,296 shares of the semiconductor company’s stock, valued at approximately $224,000.

A number of other hedge funds also recently bought and sold shares of NVEC. Advisor Group Holdings Inc. boosted its holdings in NVE by 97.9% during the first quarter. Advisor Group Holdings Inc. now owns 768 shares of the semiconductor company’s stock valued at $41,000 after acquiring an additional 380 shares during the period. Raymond James Financial Services Advisors Inc. boosted its holdings in NVE by 4.3% during the first quarter. Raymond James Financial Services Advisors Inc. now owns 13,279 shares of the semiconductor company’s stock valued at $723,000 after acquiring an additional 552 shares during the period. Bank of New York Mellon Corp boosted its holdings in NVE by 3.6% during the first quarter. Bank of New York Mellon Corp now owns 86,205 shares of the semiconductor company’s stock valued at $4,696,000 after acquiring an additional 3,011 shares during the period. MetLife Investment Management LLC boosted its holdings in NVE by 54.6% during the first quarter. MetLife Investment Management LLC now owns 3,201 shares of the semiconductor company’s stock valued at $174,000 after acquiring an additional 1,131 shares during the period. Finally, Vanguard Group Inc. boosted its holdings in NVE by 21.2% during the first quarter. Vanguard Group Inc. now owns 326,132 shares of the semiconductor company’s stock valued at $17,764,000 after acquiring an additional 56,942 shares during the period. 64.06% of the stock is currently owned by institutional investors.

NVE Stock Performance

Shares of NVEC opened at $70.56 on Tuesday. The company has a 50-day simple moving average of $75.77 and a 200-day simple moving average of $83.34. The firm has a market capitalization of $341.02 million, a P/E ratio of 15.79 and a beta of 1.19. NVE Co. has a 52 week low of $61.48 and a 52 week high of $100.19.

NVE (NASDAQ:NVEC) last announced its quarterly earnings data on Wednesday, October 18th. The semiconductor company reported $0.98 EPS for the quarter. The business had revenue of $7.13 million during the quarter. NVE had a net margin of 59.71% and a return on equity of 32.77%.

NVE Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, November 30th. Investors of record on Monday, October 30th will be given a $1.00 dividend. This represents a $4.00 annualized dividend and a yield of 5.67%. The ex-dividend date is Friday, October 27th. NVE’s dividend payout ratio (DPR) is presently 89.49%.

Wall Street Analyst Weigh In

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

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.