Raymond James Financial Inc. Makes New $1.49 Million Investment in NVE Co. (NASDAQ:NVEC)

Raymond James Financial Inc. bought a new position in shares of NVE Co. (NASDAQ:NVEC - Free Report) during the 4th quarter, according to its most recent filing with the SEC. The institutional investor bought 18,244 shares of the semiconductor company's stock, valued at approximately $1,486,000. Raymond James Financial Inc. owned approximately 0.38% of NVE at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Proficio Capital Partners LLC purchased a new stake in shares of NVE in the 4th quarter worth approximately $1,870,000. Canton Hathaway LLC purchased a new stake in NVE during the fourth quarter worth $84,000. Cardinal Capital Management boosted its position in NVE by 4.5% during the 4th quarter. Cardinal Capital Management now owns 13,860 shares of the semiconductor company's stock valued at $1,129,000 after acquiring an additional 602 shares in the last quarter. Allspring Global Investments Holdings LLC boosted its position in NVE by 199.1% during the 4th 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. Finally, Round Rock Advisors LLC bought a new position in shares of NVE in the 4th quarter worth $535,000. Hedge funds and other institutional investors own 65.95% of the company's stock.

NVE Stock Performance

NVEC stock traded down $0.90 during trading on Friday, reaching $57.77. 40,931 shares of the company traded hands, compared to its average volume of 21,475. The business has a 50 day simple moving average of $68.46 and a 200 day simple moving average of $75.28. NVE Co. has a 12 month low of $56.11 and a 12 month high of $89.98. The company has a market capitalization of $279.43 million, a price-to-earnings ratio of 18.64 and a beta of 1.05.

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

NVE Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, February 28th. Stockholders of record on Monday, February 3rd were given a dividend of $1.00 per share. This represents a $4.00 dividend on an annualized basis and a dividend yield of 6.92%. The ex-dividend date was Monday, February 3rd. NVE's payout ratio is presently 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.