Northern Trust Corp Raises Stake in NVE Co. (NASDAQ:NVEC)

Northern Trust Corp grew its stake in shares of NVE Co. (NASDAQ:NVEC) by 3.7% during the 4th quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 46,274 shares of the semiconductor company’s stock after purchasing an additional 1,644 shares during the period. Northern Trust Corp owned approximately 0.96% of NVE worth $3,768,000 at the end of the most recent reporting period.

Several other institutional investors also recently made changes to their positions in NVEC. SG Americas Securities LLC boosted its position in shares of NVE by 86.3% during the 4th quarter. SG Americas Securities LLC now owns 2,565 shares of the semiconductor company’s stock worth $209,000 after purchasing an additional 1,188 shares in the last quarter. Round Rock Advisors LLC purchased a new stake in shares of NVE in the 4th quarter worth about $535,000. Allspring Global Investments Holdings LLC boosted its position in shares of NVE by 199.1% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 22,540 shares of the semiconductor company’s stock worth $1,862,000 after buying an additional 15,005 shares in the last quarter. Cardinal Capital Management boosted its position in shares of NVE by 4.5% in the 4th quarter. Cardinal Capital Management now owns 13,860 shares of the semiconductor company’s stock worth $1,129,000 after buying an additional 602 shares in the last quarter. Finally, Canton Hathaway LLC purchased a new stake in shares of NVE in the 4th quarter worth about $84,000. 65.95% of the stock is currently owned by hedge funds and other institutional investors.

NVE Stock Up 2.6%

NVE stock opened at $73.16 on Friday. NVE Co. has a 52 week low of $51.50 and a 52 week high of $89.98. The firm’s 50-day simple moving average is $62.65 and its 200 day simple moving average is $71.24. The firm has a market capitalization of $353.87 million, a PE ratio of 23.60 and a beta of 1.09.

NVE (NASDAQ:NVEC) last released its quarterly earnings data on Wednesday, May 7th. The semiconductor company reported $0.80 EPS for the quarter. NVE had a net margin of 58.33% and a return on equity of 23.21%. The business had revenue of $6.95 million for the quarter.

NVE Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, May 30th. Investors of record on Monday, May 19th will be given a $1.00 dividend. The ex-dividend date of this dividend is Monday, May 19th. This represents a $4.00 annualized dividend and a dividend yield of 5.47%. NVE’s dividend payout ratio is presently 128.62%.

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.