GAMMA Investing LLC Buys 6,874 Shares of NVE Corporation (NASDAQ:NVEC)

GAMMA Investing LLC boosted its stake in shares of NVE Corporation (NASDAQ:NVEC) by 9,289.2% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 6,948 shares of the semiconductor company’s stock after buying an additional 6,874 shares during the quarter. GAMMA Investing LLC owned approximately 0.14% of NVE worth $443,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently 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. Quantinno Capital Management LP bought a new position in NVE in the fourth quarter worth approximately $225,000. ExodusPoint Capital Management LP bought a new position in NVE in the fourth quarter worth approximately $284,000. Bank of America Corp DE grew its stake 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 purchasing an additional 1,389 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD grew its stake 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 purchasing an additional 939 shares in the last quarter. Institutional investors own 65.95% of the company’s stock.

NVE Stock Down 0.5%

Shares of NASDAQ:NVEC opened at $69.93 on Friday. NVE Corporation has a 52-week low of $51.50 and a 52-week high of $89.98. The stock has a market cap of $338.46 million, a P/E ratio of 22.49 and a beta of 1.15. The business’s 50 day moving average is $66.45 and its 200 day moving average is $70.35.

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. NVE had a return on equity of 23.63% and a net margin of 58.22%. The company had revenue of $6.95 million for the quarter.

NVE Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, May 30th. Shareholders of record on Monday, May 19th were given a dividend of $1.00 per share. The ex-dividend date was Monday, May 19th. This represents a $4.00 annualized dividend and a yield of 5.72%. NVE’s dividend payout ratio (DPR) is presently 128.62%.

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.