NVE Corporation (NASDAQ:NVEC) Shares Sold by Merrion Investment Management Co LLC

Merrion Investment Management Co LLC trimmed its holdings in NVE Corporation (NASDAQ:NVEC) by 3.1% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 46,205 shares of the semiconductor company’s stock after selling 1,475 shares during the quarter. NVE accounts for 2.1% of Merrion Investment Management Co LLC’s portfolio, making the stock its 10th largest holding. Merrion Investment Management Co LLC’s holdings in NVE were worth $2,945,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of NVEC. Canton Hathaway LLC bought a new position in NVE during the fourth quarter valued at about $84,000. Quantinno Capital Management LP bought a new stake in shares of NVE during the fourth quarter valued at approximately $225,000. ExodusPoint Capital Management LP bought a new stake in shares of NVE during the fourth quarter valued at approximately $284,000. Azzad Asset Management Inc. ADV acquired a new position in shares of NVE in the first quarter valued at $277,000. Finally, Bank of America Corp DE lifted its position 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 during the period. Institutional investors and hedge funds own 65.95% of the company’s stock.

NVE Price Performance

NVEC opened at $69.93 on Thursday. The company has a market capitalization of $338.46 million, a P/E ratio of 22.49 and a beta of 1.15. The firm’s fifty day moving average price is $66.17 and its two-hundred day moving average price is $70.41. NVE Corporation has a fifty-two week low of $51.50 and a fifty-two week high of $89.98.

NVE (NASDAQ:NVEC) last issued its earnings results on Wednesday, May 7th. The semiconductor company reported $0.80 earnings per share for the quarter. The business had revenue of $6.95 million for the quarter. NVE had a net margin of 58.22% and a return on equity of 23.63%.

NVE Dividend Announcement

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

NVE Company 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.