Daiwa Securities Group Inc. Sells 900 Shares of NVE Co. (NASDAQ:NVEC)

Posted by Defense World Staff on Jul 29th, 2023

Daiwa Securities Group Inc. lowered its holdings in shares of NVE Co. (NASDAQ:NVEC – Free Report) by 9.2% in the first quarter, according to its most recent disclosure with the SEC. The firm owned 8,854 shares of the semiconductor company’s stock after selling 900 shares during the period. Daiwa Securities Group Inc. owned 0.18% of NVE worth $735,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently made changes to their positions in NVEC. State Street Corp raised its position in shares of NVE by 0.4% in the third quarter. State Street Corp now owns 45,775 shares of the semiconductor company’s stock valued at $2,135,000 after buying an additional 203 shares in the last quarter. Apollon Wealth Management LLC raised its position in NVE by 5.2% during the fourth quarter. Apollon Wealth Management LLC now owns 5,502 shares of the semiconductor company’s stock valued at $356,000 after purchasing an additional 272 shares in the last quarter. Merrion Investment Management Co LLC raised its position in NVE by 0.7% during the first quarter. Merrion Investment Management Co LLC now owns 43,255 shares of the semiconductor company’s stock valued at $3,590,000 after purchasing an additional 300 shares in the last quarter. Dorsey Wright & Associates acquired a new position in NVE during the first quarter valued at approximately $26,000. Finally, Advisor Group Holdings Inc. raised its position in NVE by 97.9% during the first quarter. Advisor Group Holdings Inc. now owns 768 shares of the semiconductor company’s stock valued at $41,000 after purchasing an additional 380 shares in the last quarter. Institutional investors own 57.10% of the company’s stock.

NVE Stock Performance

Shares of NASDAQ:NVEC opened at $78.83 on Friday. NVE Co. has a 52-week low of $46.00 and a 52-week high of $100.19. The company has a market capitalization of $380.75 million, a PE ratio of 16.60 and a beta of 1.24. The company has a fifty day moving average of $90.65 and a 200-day moving average of $82.33.

NVE (NASDAQ:NVEC – Get Free Report) last issued its quarterly earnings data on Wednesday, May 3rd. The semiconductor company reported $1.70 earnings per share for the quarter. NVE had a net margin of 57.76% and a return on equity of 35.21%. The company had revenue of $12.80 million for the quarter.

NVE Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, August 31st. Investors of record on Monday, July 31st will be paid a $1.00 dividend. The ex-dividend date is Friday, July 28th. This represents a $4.00 annualized dividend and a dividend yield of 5.07%. NVE’s dividend payout ratio is 84.21%.

Wall Street Analysts Forecast Growth

Separately, StockNews.com downgraded shares of NVE from a “buy” rating to a “hold” rating in a report on Saturday, July 22nd.

Insider Buying and Selling

In related news, Director Patricia M. Hollister sold 2,000 shares of the business’s stock in a transaction on Monday, May 15th. The shares were sold at an average price of $86.20, for a total value of $172,400.00. Following the sale, the director now owns 1,040 shares of the company’s stock, valued at $89,648. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other NVE news, CEO Daniel A. Baker sold 20,000 shares of the company’s stock in a transaction on Wednesday, May 10th. The shares were sold at an average price of $87.17, for a total transaction of $1,743,400.00. Following the sale, the chief executive officer now owns 66,186 shares of the company’s stock, valued at $5,769,433.62. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Patricia M. Hollister sold 2,000 shares of the company’s stock in a transaction on Monday, May 15th. The shares were sold at an average price of $86.20, for a total transaction of $172,400.00. Following the sale, the director now directly owns 1,040 shares in the company, valued at approximately $89,648. The disclosure for this sale can be found here. 2.00% of the stock is currently owned by insiders.

About NVE

(Free Report)

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.