NVE Corp (NASDAQ:NVEC) Short Interest Update

NVE Corp (NASDAQ:NVEC) was the target of a significant decrease in short interest in the month of August. As of August 31st, there was short interest totalling 62,000 shares, a decrease of 19.5% from the July 31st total of 77,000 shares. Approximately 1.3% of the company’s shares are sold short. Based on an average daily trading volume, of 29,600 shares, the short-interest ratio is presently 2.1 days.

NASDAQ:NVEC traded down $0.38 during trading hours on Friday, reaching $70.94. 48,400 shares of the company were exchanged, compared to its average volume of 23,840. The firm has a market cap of $338.98 million, a price-to-earnings ratio of 23.95 and a beta of 1.38. NVE has a 52-week low of $63.11 and a 52-week high of $113.42. The stock has a 50 day simple moving average of $66.95 and a 200 day simple moving average of $80.39.

NVE (NASDAQ:NVEC) last posted its quarterly earnings results on Wednesday, July 17th. The semiconductor company reported $0.74 earnings per share for the quarter. The company had revenue of $6.30 million for the quarter. NVE had a net margin of 55.22% and a return on equity of 16.97%.

The business also recently declared a quarterly dividend, which was paid on Friday, August 30th. Shareholders of record on Monday, July 29th were paid a dividend of $1.00 per share. This represents a $4.00 dividend on an annualized basis and a yield of 5.64%. The ex-dividend date of this dividend was Friday, July 26th.

In related news, Director Terrence Glarner sold 1,000 shares of the company’s stock in a transaction that occurred on Tuesday, July 23rd. The shares were sold at an average price of $69.24, for a total transaction of $69,240.00. Following the transaction, the director now owns 1,200 shares of the company’s stock, valued at $83,088. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 2.30% of the company’s stock.

A number of large investors have recently bought and sold shares of the business. BlackRock Inc. raised its stake in NVE by 1.7% during the second quarter. BlackRock Inc. now owns 352,463 shares of the semiconductor company’s stock worth $24,542,000 after purchasing an additional 6,007 shares during the period. Vanguard Group Inc. raised its stake in NVE by 1.1% during the second quarter. Vanguard Group Inc. now owns 238,468 shares of the semiconductor company’s stock worth $16,605,000 after purchasing an additional 2,541 shares during the period. Renaissance Technologies LLC raised its stake in NVE by 13.9% during the second quarter. Renaissance Technologies LLC now owns 130,877 shares of the semiconductor company’s stock worth $9,113,000 after purchasing an additional 15,977 shares during the period. Dimensional Fund Advisors LP raised its stake in NVE by 2.1% during the fourth quarter. Dimensional Fund Advisors LP now owns 126,093 shares of the semiconductor company’s stock worth $11,038,000 after purchasing an additional 2,562 shares during the period. Finally, Northern Trust Corp raised its stake in NVE by 0.4% during the second quarter. Northern Trust Corp now owns 70,958 shares of the semiconductor company’s stock worth $4,940,000 after purchasing an additional 257 shares during the period. 74.41% of the stock is currently owned by institutional investors.

Separately, BidaskClub downgraded shares of NVE from a “sell” rating to a “strong sell” rating in a research note on Friday, May 17th.

NVE Company Profile

NVE Corporation develops and sells devices that use spintronics, a nanotechnology that utilizes electron spin to acquire, store, and transmit information. The company manufactures spintronic products, including sensors and couplers for use in acquiring and transmitting data. Its products comprise standard sensors to detect the presence of a magnetic or metallic material to determine position or speed primarily for the factory automation market; and custom and medical sensors for medical devices to replace electromechanical magnetic switches.

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