Short Interest in NVE Corp (NASDAQ:NVEC) Declines By 9.4%

NVE Corp (NASDAQ:NVEC) saw a large decrease in short interest in the month of July. As of July 15th, there was short interest totalling 87,600 shares, a decrease of 9.4% from the June 15th total of 96,700 shares. Based on an average daily volume of 22,200 shares, the days-to-cover ratio is currently 3.9 days. Approximately 1.8% of the company’s shares are short sold.

In other news, Director Terrence Glarner sold 1,000 shares of the stock in a transaction on Tuesday, July 23rd. The stock was sold at an average price of $69.24, for a total value of $69,240.00. Following the transaction, the director now owns 1,200 shares of the company’s stock, valued at approximately $83,088. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Corporate insiders own 2.30% of the company’s stock.

Institutional investors have recently modified their holdings of the stock. Institutional & Family Asset Management LLC raised its stake in NVE by 100.0% during the 1st quarter. Institutional & Family Asset Management LLC now owns 400 shares of the semiconductor company’s stock worth $39,000 after buying an additional 200 shares during the period. BNP Paribas Arbitrage SA raised its stake in NVE by 49,850.0% during the 1st quarter. BNP Paribas Arbitrage SA now owns 999 shares of the semiconductor company’s stock worth $98,000 after buying an additional 997 shares during the period. Metropolitan Life Insurance Co. NY raised its stake in NVE by 313.4% during the 4th quarter. Metropolitan Life Insurance Co. NY now owns 1,513 shares of the semiconductor company’s stock worth $132,000 after buying an additional 1,147 shares during the period. WINTON GROUP Ltd acquired a new stake in NVE during the 2nd quarter worth $215,000. Finally, Skylands Capital LLC acquired a new stake in NVE during the 1st quarter worth $279,000. 78.11% of the stock is currently owned by institutional investors and hedge funds.

NVE stock traded down $0.43 during mid-day trading on Tuesday, hitting $68.77. 29,400 shares of the company’s stock were exchanged, compared to its average volume of 19,966. The firm has a market capitalization of $334.65 million, a price-to-earnings ratio of 23.78 and a beta of 1.30. NVE has a fifty-two week low of $66.35 and a fifty-two week high of $121.20. The company has a 50 day moving average price of $69.75.

NVE (NASDAQ:NVEC) last issued its quarterly earnings data on Wednesday, July 17th. The semiconductor company reported $0.74 EPS for the quarter. The business had revenue of $6.30 million for the quarter. NVE had a return on equity of 16.97% and a net margin of 55.22%.

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, August 30th. Investors of record on Monday, July 29th will be paid a dividend of $1.00 per share. This represents a $4.00 annualized dividend and a yield of 5.82%. The ex-dividend date of this dividend is Friday, July 26th.

A number of research firms have recently weighed in on NVEC. BidaskClub raised Kandi Technologies Group from a “strong sell” rating to a “sell” rating in a research note on Friday, May 17th. ValuEngine raised Yirendai from a “strong sell” rating to a “sell” rating in a research note on Friday, May 3rd.

NVE Company Profile

NVE Corporation develops and sells devices that use spintronics, a nanotechnology that utilizes electron spin to acquire, store, and transmit information. The company manufactures spintronic products, including sensors and couplers for use in acquiring and transmitting data. Its products comprise standard sensors to detect the presence of a magnetic or metallic material to determine position or speed primarily for the factory automation market; and custom and medical sensors for medical devices to replace electromechanical magnetic switches.

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