Millennium Management LLC Trims Position in NVE Co. (NASDAQ:NVEC)

Millennium Management LLC trimmed its stake in shares of NVE Co. (NASDAQ:NVEC) by 49.1% in the 4th quarter, HoldingsChannel.com reports. The fund owned 2,961 shares of the semiconductor company’s stock after selling 2,859 shares during the period. Millennium Management LLC’s holdings in NVE were worth $241,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Allspring Global Investments Holdings LLC grew its stake in NVE by 199.1% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 22,540 shares of the semiconductor company’s stock valued at $1,862,000 after acquiring an additional 15,005 shares in the last quarter. Proficio Capital Partners LLC purchased a new position in NVE during the fourth quarter valued at $1,870,000. Raymond James Financial Inc. purchased a new position in NVE during the fourth quarter valued at $1,486,000. Northern Trust Corp grew its stake in NVE by 3.7% during the fourth quarter. Northern Trust Corp now owns 46,274 shares of the semiconductor company’s stock valued at $3,768,000 after acquiring an additional 1,644 shares in the last quarter. Finally, Deutsche Bank AG grew its stake in NVE by 6.9% during the fourth quarter. Deutsche Bank AG now owns 31,094 shares of the semiconductor company’s stock valued at $2,532,000 after acquiring an additional 2,006 shares in the last quarter. 65.95% of the stock is owned by hedge funds and other institutional investors.

NVE Stock Performance

NVEC opened at $73.38 on Thursday. The stock has a market capitalization of $354.94 million, a price-to-earnings ratio of 23.67 and a beta of 1.15. The company has a fifty day moving average of $64.83 and a 200 day moving average of $70.67. NVE Co. has a fifty-two week low of $51.50 and a fifty-two week high of $89.98.

NVE (NASDAQ:NVEC) last posted its earnings results on Wednesday, May 7th. The semiconductor company reported $0.80 earnings per share for the quarter. The company had revenue of $6.95 million during the quarter. NVE had a net margin of 58.33% and a return on equity of 23.21%.

NVE Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, May 30th. Stockholders of record on Monday, May 19th were given a dividend of $1.00 per share. This represents a $4.00 annualized dividend and a dividend yield of 5.45%. The ex-dividend date of this dividend was Monday, May 19th. NVE’s dividend 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.