Millennium Management LLC Sells 2,859 Shares of NVE Co. (NASDAQ:NVEC)

Millennium Management LLC cut its holdings in NVE Co. (NASDAQ:NVEC) by 49.1% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 2,961 shares of the semiconductor company’s stock after selling 2,859 shares during the period. Millennium Management LLC owned 0.06% of NVE worth $241,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in NVEC. Canton Hathaway LLC bought a new position in NVE in the fourth quarter worth approximately $84,000. ExodusPoint Capital Management LP bought a new position in NVE in the fourth quarter worth approximately $284,000. Bank of America Corp DE raised its position in NVE by 33.3% in the fourth quarter. Bank of America Corp DE now owns 5,554 shares of the semiconductor company’s stock worth $452,000 after acquiring an additional 1,389 shares during the period. Price T Rowe Associates Inc. MD raised its position in NVE by 14.6% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 7,363 shares of the semiconductor company’s stock worth $600,000 after acquiring an additional 939 shares during the period. Finally, Barclays PLC raised its position in NVE by 10.4% in the fourth quarter. Barclays PLC now owns 7,579 shares of the semiconductor company’s stock worth $617,000 after acquiring an additional 716 shares during the period. 65.95% of the stock is currently owned by institutional investors.

NVE Price Performance

Shares of NASDAQ NVEC opened at $73.38 on Thursday. The firm has a fifty day moving average price of $64.83 and a 200-day moving average price of $70.67. The stock has a market cap of $354.94 million, a PE ratio of 23.67 and a beta of 1.15. NVE Co. has a 1 year low of $51.50 and a 1 year high of $89.98.

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

NVE Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, May 30th. Stockholders of record on Monday, May 19th were paid a $1.00 dividend. The ex-dividend date of this dividend was Monday, May 19th. This represents a $4.00 dividend on an annualized basis and a dividend yield of 5.45%. NVE’s dividend payout ratio (DPR) is presently 128.62%.

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.