Swiss National Bank increased its stake in shares of NVE Corp. (NASDAQ:NVEC) by 10.4% during the second quarter, according to its most recent filing with the SEC. The fund owned 8,500 shares of the company’s stock after buying an additional 800 shares during the period. Swiss National Bank owned approximately 0.18% of NVE Corp. worth $499,000 as of its most recent SEC filing.
Several other large investors also recently made changes to their positions in NVEC. Strs Ohio boosted its stake in shares of NVE Corp. by 8.2% in the second quarter. Strs Ohio now owns 10,600 shares of the company’s stock valued at $621,000 after buying an additional 800 shares in the last quarter. Geode Capital Management LLC boosted its stake in shares of NVE Corp. by 2.7% in the first quarter. Geode Capital Management LLC now owns 32,947 shares of the company’s stock valued at $1,862,000 after buying an additional 871 shares in the last quarter. Finally, Prudential Financial Inc. boosted its stake in shares of NVE Corp. by 12.7% in the first quarter. Prudential Financial Inc. now owns 16,023 shares of the company’s stock valued at $906,000 after buying an additional 1,800 shares in the last quarter. Hedge funds and other institutional investors own 73.25% of the company’s stock.
NVE Corp. (NASDAQ:NVEC) traded down 1.98% on Friday, hitting $56.46. 9,568 shares of the company traded hands. NVE Corp. has a 1-year low of $45.47 and a 1-year high of $62.93. The firm’s 50 day moving average price is $58.55 and its 200 day moving average price is $57.56. The firm has a market capitalization of $272.98 million, a PE ratio of 23.53 and a beta of 0.59.
NVE Corp. (NASDAQ:NVEC) last released its quarterly earnings data on Wednesday, July 20th. The company reported $0.65 EPS for the quarter, topping the consensus estimate of $0.54 by $0.11. NVE Corp. had a return on equity of 11.54% and a net margin of 44.52%. The company earned $6.71 million during the quarter, compared to the consensus estimate of $6.40 million. Equities research analysts predict that NVE Corp. will post $2.16 EPS for the current fiscal year.
Separately, Zacks Investment Research upgraded NVE Corp. from a “sell” rating to a “hold” rating in a research report on Wednesday, July 6th.
In related news, Director Terrence Glarner sold 1,000 shares of NVE Corp. stock in a transaction dated Thursday, August 11th. The stock was sold at an average price of $57.86, for a total value of $57,860.00. Following the completion of the sale, the director now directly owns 4,200 shares in the company, valued at approximately $243,012. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 2.40% of the stock is owned by corporate insiders.
About NVE Corp.
NVE Corporation develops and sells devices that use spintronics, a nanotechnology that relies on electron spin to acquire, store and transmit information. The Company manufactures spintronic products, including sensors and couplers that are used to acquire and transmit data. The Company has also licensed its spintronic magnetoresistive random access memory technology (MRAM).
Want to see what other hedge funds are holding NVEC? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for NVE Corp. (NASDAQ:NVEC).
Receive News & Ratings for NVE Corp. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for NVE Corp. and related companies with MarketBeat.com's FREE daily email newsletter.