Renaissance Technologies LLC Lowers Position in NVE Co. (NASDAQ:NVEC)

Renaissance Technologies LLC reduced its stake in NVE Co. (NASDAQ:NVEC) by 2.6% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 149,300 shares of the semiconductor company’s stock after selling 4,000 shares during the period. Renaissance Technologies LLC owned approximately 3.08% of NVE worth $12,157,000 at the end of the most recent quarter.

A number of other large investors also recently bought and sold shares of NVEC. JPMorgan Chase & Co. raised its stake in shares of NVE by 2,792.1% in the 3rd quarter. JPMorgan Chase & Co. now owns 68,138 shares of the semiconductor company’s stock valued at $5,442,000 after acquiring an additional 65,782 shares during the period. Proficio Capital Partners LLC purchased a new stake in NVE in the fourth quarter valued at approximately $1,870,000. Raymond James Financial Inc. acquired a new position in NVE during the fourth quarter worth $1,486,000. Allspring Global Investments Holdings LLC boosted its position in shares of NVE by 199.1% during the fourth 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 during the period. Finally, State Street Corp grew its stake in shares of NVE by 10.2% in the third quarter. State Street Corp now owns 161,932 shares of the semiconductor company’s stock valued at $12,934,000 after buying an additional 14,959 shares in the last quarter. Institutional investors and hedge funds own 65.95% of the company’s stock.

NVE Stock Performance

Shares of NVEC opened at $58.34 on Wednesday. The company’s 50-day simple moving average is $66.02 and its 200-day simple moving average is $73.95. NVE Co. has a 1 year low of $51.50 and a 1 year high of $89.98. The stock has a market capitalization of $282.19 million, a PE ratio of 18.82 and a beta of 1.05.

NVE (NASDAQ:NVEC) last released its earnings results on Wednesday, January 22nd. The semiconductor company reported $0.63 earnings per share (EPS) for the quarter. NVE had a net margin of 58.33% and a return on equity of 23.21%.

NVE Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, February 28th. Investors of record on Monday, February 3rd were paid a dividend of $1.00 per share. The ex-dividend date of this dividend was Monday, February 3rd. This represents a $4.00 annualized dividend and a yield of 6.86%. NVE’s payout ratio is 129.03%.

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.