Townsquare Capital LLC Reduces Stock Position in NVE Co. (NASDAQ:NVEC)

Townsquare Capital LLC cut its stake in shares of NVE Co. (NASDAQ:NVEC) by 2.9% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 9,786 shares of the semiconductor company’s stock after selling 295 shares during the period. Townsquare Capital LLC’s holdings in NVE were worth $782,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Vanguard Group Inc. increased its position in NVE by 0.8% during the first quarter. Vanguard Group Inc. now owns 261,476 shares of the semiconductor company’s stock valued at $23,580,000 after acquiring an additional 2,011 shares during the last quarter. GSA Capital Partners LLP purchased a new position in shares of NVE in the third quarter worth approximately $761,000. Price T Rowe Associates Inc. MD grew its position in NVE by 3.1% during the first quarter. Price T Rowe Associates Inc. MD now owns 7,966 shares of the semiconductor company’s stock valued at $719,000 after buying an additional 237 shares during the period. Sequoia Financial Advisors LLC purchased a new stake in NVE during the second quarter valued at approximately $238,000. Finally, Isthmus Partners LLC raised its position in NVE by 0.6% in the second quarter. Isthmus Partners LLC now owns 51,491 shares of the semiconductor company’s stock worth $3,902,000 after acquiring an additional 325 shares during the period. 65.95% of the stock is owned by institutional investors.

NVE Price Performance

Shares of NVEC stock opened at $78.42 on Wednesday. The company has a market cap of $378.77 million, a price-to-earnings ratio of 23.32 and a beta of 1.14. NVE Co. has a 1 year low of $69.86 and a 1 year high of $90.24. The firm has a fifty day moving average price of $78.36 and a 200-day moving average price of $78.11.

NVE Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, November 29th. Shareholders of record on Monday, November 4th were issued a dividend of $1.00 per share. This represents a $4.00 annualized dividend and a yield of 5.10%. The ex-dividend date was Monday, November 4th. 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.