Ranger Investment Management L.P. Buys Shares of 121,341 NVE Corporation $NVEC

Ranger Investment Management L.P. purchased a new position in shares of NVE Corporation (NASDAQ:NVEC) during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 121,341 shares of the semiconductor company’s stock, valued at approximately $12,686,000.

Several other institutional investors have also modified their holdings of the business. McMillan Office Inc. bought a new position in NVE in the fourth quarter valued at approximately $30,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in shares of NVE by 5.7% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 2,873 shares of the semiconductor company’s stock worth $183,000 after acquiring an additional 156 shares in the last quarter. Jane Street Group LLC acquired a new stake in shares of NVE during the first quarter worth $351,000. State of Tennessee Department of Treasury raised its holdings in shares of NVE by 137.4% during the second quarter. State of Tennessee Department of Treasury now owns 6,596 shares of the semiconductor company’s stock worth $486,000 after acquiring an additional 3,818 shares during the period. Finally, Bank of New York Mellon Corp bought a new stake in NVE in the 2nd quarter valued at $4,879,000. Institutional investors own 65.95% of the company’s stock.

NVE Price Performance

Shares of NVEC stock opened at $109.89 on Monday. The firm has a 50 day moving average price of $106.58 and a two-hundred day moving average price of $88.63. The company has a market capitalization of $531.87 million, a PE ratio of 29.54 and a beta of 1.37. NVE Corporation has a 12-month low of $57.21 and a 12-month high of $135.00.

NVE (NASDAQ:NVEC) last posted its quarterly earnings data on Wednesday, July 22nd. The semiconductor company reported $1.32 earnings per share (EPS) for the quarter. The firm had revenue of $11.03 million during the quarter. NVE had a net margin of 57.64% and a return on equity of 30.53%.

NVE Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, August 31st. Shareholders of record on Monday, August 3rd will be paid a dividend of $1.00 per share. The ex-dividend date of this dividend is Monday, August 3rd. This represents a $4.00 annualized dividend and a yield of 3.6%. NVE’s payout ratio is presently 107.53%.

Insider Activity at NVE

In related news, CEO Daniel A. Baker sold 15,222 shares of the stock in a transaction that occurred on Wednesday, July 29th. The shares were sold at an average price of $114.08, for a total value of $1,736,525.76. Following the completion of the transaction, the chief executive officer owned 46,303 shares of the company’s stock, valued at $5,282,246.24. This represents a 24.74% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Insiders have sold a total of 21,500 shares of company stock valued at $2,480,510 over the last three months. 2.10% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on the company. Wall Street Zen upgraded NVE from a “hold” rating to a “buy” rating in a report on Sunday. Weiss Ratings raised NVE from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Thursday, July 23rd. One analyst has rated the stock with a Buy rating, Based on data from MarketBeat.com, the stock currently has a consensus rating of “Buy”.

NVE Company Profile

NVE Corporation (NASDAQ:NVEC) is a technology company specializing in the development, manufacturing, and marketing of spintronic products. The company’s core expertise lies in magnetoresistive sensing and magnetic-field-based digital isolation, leveraging patented spin-valve and tunneling magnetoresistance technologies to deliver high-performance, low-power solutions.

NVE’s product portfolio includes magnetic sensors for current, position, and angle sensing applications, as well as micro-isolators and digital isolators that provide galvanic isolation in industrial, automotive, medical, instrumentation, and consumer electronics systems.