Allspring Global Investments Holdings LLC Cuts Stock Holdings in NVE Co. (NASDAQ:NVEC)

Allspring Global Investments Holdings LLC lowered its stake in shares of NVE Co. (NASDAQ:NVEC) by 22.5% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 7,535 shares of the semiconductor company’s stock after selling 2,191 shares during the period. Allspring Global Investments Holdings LLC owned approximately 0.16% of NVE worth $602,000 at the end of the most recent reporting period.

A number of other large investors also recently bought and sold shares of NVEC. SG Americas Securities LLC purchased a new position in shares of NVE in the 3rd quarter valued at $110,000. Sequoia Financial Advisors LLC purchased a new position in shares of NVE in the 2nd quarter valued at $238,000. Principal Financial Group Inc. raised its stake in shares of NVE by 13.0% in the 2nd quarter. Principal Financial Group Inc. now owns 5,519 shares of the semiconductor company’s stock valued at $412,000 after acquiring an additional 637 shares during the period. Kings Path Partners LLC purchased a new position in shares of NVE in the 2nd quarter valued at $443,000. Finally, Koss Olinger Consulting LLC purchased a new position in shares of NVE in the 2nd quarter valued at $460,000. Hedge funds and other institutional investors own 65.95% of the company’s stock.

Insiders Place Their Bets

In other NVE news, Director Terrence Glarner sold 344 shares of the company’s stock in a transaction dated Thursday, August 15th. The shares were sold at an average price of $78.71, for a total value of $27,076.24. Following the completion of the transaction, the director now owns 1,200 shares in the company, valued at approximately $94,452. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 1.90% of the stock is owned by insiders.

NVE Trading Up 0.7 %

Shares of NVEC stock opened at $75.92 on Friday. The company’s fifty day simple moving average is $78.60 and its 200-day simple moving average is $78.22. The company has a market cap of $366.69 million, a PE ratio of 22.73 and a beta of 1.14. NVE Co. has a 52 week low of $67.11 and a 52 week high of $90.24.

NVE Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 29th. Investors of record on Monday, November 4th will be given a $1.00 dividend. The ex-dividend date of this dividend is Monday, November 4th. This represents a $4.00 annualized dividend and a yield of 5.27%. NVE’s dividend payout ratio is presently 119.76%.

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.