NVE (NASDAQ:NVEC) Shares Cross Above 200 Day Moving Average – Here’s Why

NVE Co. (NASDAQ:NVEC) crossed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $79.09 and traded as high as $80.46. NVE shares last traded at $79.65, with a volume of 16,712 shares.

NVE Stock Performance

The firm has a market cap of $394.65 million, a P/E ratio of 24.44 and a beta of 1.12. The firm’s fifty day moving average is $79.50 and its 200 day moving average is $79.13.

NVE Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, November 29th. Shareholders of record on Monday, November 4th were issued a $1.00 dividend. This represents a $4.00 dividend on an annualized basis and a yield of 4.90%. The ex-dividend date was Monday, November 4th. NVE’s dividend payout ratio is 119.76%.

Institutional Investors Weigh In On NVE

A number of hedge funds and other institutional investors have recently modified their holdings of NVEC. Wilmington Savings Fund Society FSB acquired a new position in shares of NVE in the third quarter valued at about $67,000. SG Americas Securities LLC bought a new stake in shares of NVE in the third quarter valued at approximately $110,000. FMR LLC grew its position in NVE by 870.3% during the third quarter. FMR LLC now owns 2,154 shares of the semiconductor company’s stock worth $172,000 after buying an additional 1,932 shares in the last quarter. BNP Paribas Financial Markets increased its stake in NVE by 144.8% during the 3rd quarter. BNP Paribas Financial Markets now owns 4,484 shares of the semiconductor company’s stock worth $358,000 after acquiring an additional 2,652 shares during the period. Finally, Koss Olinger Consulting LLC raised its stake in NVE by 4.1% in the third quarter. Koss Olinger Consulting LLC now owns 6,410 shares of the semiconductor company’s stock valued at $512,000 after purchasing an additional 250 shares in the last quarter. Institutional investors and hedge funds own 65.95% of the company’s stock.

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.