NVE Co. (NASDAQ:NVEC) Shares Acquired by Bank of America Corp DE

Bank of America Corp DE lifted its position in NVE Co. (NASDAQ:NVEC) by 33.3% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 5,554 shares of the semiconductor company’s stock after acquiring an additional 1,389 shares during the period. Bank of America Corp DE owned 0.11% of NVE worth $452,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also recently made changes to their positions in the company. Allspring Global Investments Holdings LLC boosted its stake in NVE by 199.1% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 22,540 shares of the semiconductor company’s stock worth $1,862,000 after purchasing an additional 15,005 shares during the last quarter. Cardinal Capital Management boosted its position in NVE by 4.5% during the fourth quarter. Cardinal Capital Management now owns 13,860 shares of the semiconductor company’s stock worth $1,129,000 after acquiring an additional 602 shares during the last quarter. Canton Hathaway LLC purchased a new stake in NVE during the 4th quarter valued at about $84,000. Proficio Capital Partners LLC acquired a new stake in NVE in the 4th quarter valued at about $1,870,000. Finally, Raymond James Financial Inc. purchased a new position in NVE in the 4th quarter worth approximately $1,486,000. 65.95% of the stock is owned by institutional investors and hedge funds.

NVE Price Performance

NVEC stock opened at $73.38 on Thursday. NVE Co. has a 1 year low of $51.50 and a 1 year high of $89.98. The firm has a market capitalization of $354.94 million, a PE ratio of 23.67 and a beta of 1.15. The business has a 50 day simple moving average of $64.83 and a 200-day simple moving average of $70.67.

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

NVE Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, May 30th. Investors of record on Monday, May 19th were given a dividend of $1.00 per share. This represents a $4.00 annualized dividend and a yield of 5.45%. The ex-dividend date was Monday, May 19th. NVE’s payout ratio is currently 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.