NVE Co. (NASDAQ:NVEC) Short Interest Up 25.4% in May

NVE Co. (NASDAQ:NVECGet Rating) was the recipient of a significant growth in short interest during the month of May. As of May 15th, there was short interest totalling 219,200 shares, a growth of 25.4% from the April 30th total of 174,800 shares. Based on an average trading volume of 28,500 shares, the days-to-cover ratio is presently 7.7 days. Currently, 4.6% of the company’s stock are sold short.

Several institutional investors have recently modified their holdings of NVEC. Vanguard Group Inc. lifted its holdings in NVE by 21.2% during the 1st quarter. Vanguard Group Inc. now owns 326,132 shares of the semiconductor company’s stock worth $17,764,000 after buying an additional 56,942 shares in the last quarter. Psagot Value Holdings Ltd. bought a new position in NVE in the third quarter valued at about $220,000. Oak Family Advisors LLC boosted its stake in shares of NVE by 1,251.8% in the 1st quarter. Oak Family Advisors LLC now owns 46,704 shares of the semiconductor company’s stock valued at $2,544,000 after purchasing an additional 43,249 shares during the last quarter. Royce & Associates LP boosted its stake in NVE by 6.3% in the fourth quarter. Royce & Associates LP now owns 479,117 shares of the semiconductor company’s stock valued at $32,724,000 after acquiring an additional 28,556 shares during the last quarter. Finally, Los Angeles Capital Management LLC grew its holdings in NVE by 172.9% during the 4th quarter. Los Angeles Capital Management LLC now owns 32,916 shares of the semiconductor company’s stock worth $2,248,000 after acquiring an additional 20,855 shares during the period. 64.53% of the stock is owned by institutional investors and hedge funds.

NVEC has been the subject of a number of analyst reports. TheStreet cut shares of NVE from a “b” rating to a “c+” rating in a research note on Monday, February 7th. StockNews.com initiated coverage on shares of NVE in a research note on Thursday, March 31st. They issued a “hold” rating for the company.

Shares of NVE stock opened at $49.46 on Wednesday. The stock has a market capitalization of $238.94 million, a P/E ratio of 16.49 and a beta of 1.15. The company has a 50-day simple moving average of $49.83 and a 200 day simple moving average of $58.52. NVE has a 12-month low of $45.55 and a 12-month high of $80.03.

NVE (NASDAQ:NVECGet Rating) last announced its earnings results on Wednesday, May 4th. The semiconductor company reported $0.79 earnings per share (EPS) for the quarter. The business had revenue of $6.72 million during the quarter. NVE had a net margin of 53.76% and a return on equity of 21.59%.

The business also recently declared a quarterly dividend, which was paid on Tuesday, May 31st. Stockholders of record on Monday, May 16th were paid a dividend of $1.00 per share. The ex-dividend date was Friday, May 13th. This represents a $4.00 annualized dividend and a dividend yield of 8.09%. NVE’s dividend payout ratio (DPR) is currently 133.33%.

About NVE (Get Rating)

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.

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