Kayne Anderson Rudnick Investment Management LLC Reduces Position in NVE Co. (NASDAQ:NVEC)

Kayne Anderson Rudnick Investment Management LLC lowered its position in NVE Co. (NASDAQ:NVEC) by 1.4% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 366,689 shares of the semiconductor company’s stock after selling 5,146 shares during the quarter. Kayne Anderson Rudnick Investment Management LLC owned approximately 7.58% of NVE worth $29,860,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also modified their holdings of the company. FMR LLC raised its position in NVE by 870.3% in the 3rd quarter. FMR LLC now owns 2,154 shares of the semiconductor company’s stock valued at $172,000 after purchasing an additional 1,932 shares during the last quarter. State Street Corp boosted its stake in shares of NVE by 10.2% during the third quarter. State Street Corp now owns 161,932 shares of the semiconductor company’s stock worth $12,934,000 after buying an additional 14,959 shares during the period. Barclays PLC grew its holdings in shares of NVE by 317.0% during the third quarter. Barclays PLC now owns 6,863 shares of the semiconductor company’s stock worth $549,000 after buying an additional 5,217 shares during the last quarter. Geode Capital Management LLC increased its position in NVE by 7.8% in the 3rd quarter. Geode Capital Management LLC now owns 134,613 shares of the semiconductor company’s stock valued at $10,754,000 after acquiring an additional 9,763 shares during the period. Finally, Wilmington Savings Fund Society FSB purchased a new stake in NVE during the 3rd quarter valued at approximately $67,000. 65.95% of the stock is owned by institutional investors and hedge funds.

NVE Trading Up 0.2 %

NVE stock opened at $57.09 on Monday. The stock has a market capitalization of $276.14 million, a price-to-earnings ratio of 18.42 and a beta of 1.05. The stock has a 50 day moving average of $65.16 and a two-hundred day moving average of $73.47. NVE Co. has a twelve month low of $51.50 and a twelve month high of $89.98.

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

NVE Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, February 28th. Investors of record on Monday, February 3rd were issued a dividend of $1.00 per share. The ex-dividend date was Monday, February 3rd. This represents a $4.00 annualized dividend and a yield of 7.01%. NVE’s dividend payout ratio is currently 129.03%.

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.