Short Interest in NVE Co. (NASDAQ:NVEC) Declines By 13.0%

NVE Co. (NASDAQ:NVEC - Get Free Report) saw a large decrease in short interest during the month of September. As of September 15th, there was short interest totalling 113,900 shares, a decrease of 13.0% from the August 31st total of 130,900 shares. Currently, 2.4% of the shares of the stock are sold short. Based on an average trading volume of 26,700 shares, the short-interest ratio is currently 4.3 days.

NVE Price Performance

Shares of NVE stock traded up $0.14 during trading on Friday, hitting $80.40. 17,127 shares of the stock were exchanged, compared to its average volume of 20,251. The stock has a market cap of $388.33 million, a price-to-earnings ratio of 22.65 and a beta of 1.14. The firm's 50-day moving average price is $80.46 and its 200 day moving average price is $79.36. NVE has a 12-month low of $64.14 and a 12-month high of $90.24.

NVE (NASDAQ:NVEC - Get Free Report) last announced its quarterly earnings results on Wednesday, July 17th. The semiconductor company reported $0.85 EPS for the quarter. The firm had revenue of $6.78 million for the quarter. NVE had a net margin of 60.60% and a return on equity of 25.53%.

NVE Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, August 30th. Stockholders of record on Monday, July 29th were issued a $1.00 dividend. This represents a $4.00 annualized dividend and a dividend yield of 4.98%. The ex-dividend date of this dividend was Monday, July 29th. NVE's payout ratio is 112.68%.

Insider Buying and Selling at NVE

In other news, Director Terrence Glarner sold 344 shares of the firm's stock in a transaction that occurred on Thursday, August 15th. The shares were sold at an average price of $78.71, for a total transaction of $27,076.24. Following the completion of the sale, the director now owns 1,200 shares in the company, valued at approximately $94,452. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 1.90% of the stock is owned by insiders.

Institutional Trading of NVE

Institutional investors have recently added to or reduced their stakes in the stock. SYSTM Wealth Solutions LLC purchased a new stake in shares of NVE in the first quarter valued at about $47,000. Precision Wealth Strategies LLC acquired a new position in shares of NVE in the first quarter valued at approximately $206,000. Sequoia Financial Advisors LLC acquired a new position in shares of NVE in the second quarter valued at approximately $238,000. Principal Financial Group Inc. raised its position in shares of NVE by 13.0% in the second quarter. Principal Financial Group Inc. now owns 5,519 shares of the semiconductor company's stock valued at $412,000 after buying an additional 637 shares during the last quarter. Finally, Kings Path Partners LLC acquired a new position in shares of NVE in the second quarter valued at approximately $443,000. Hedge funds and other institutional investors own 65.95% of the company's stock.

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.