Russell Investments Group Ltd. Invests $291,000 in NVE Co. (NASDAQ:NVEC)

Russell Investments Group Ltd. bought a new stake in NVE Co. (NASDAQ:NVEC – Get Rating) during the second quarter, according to its most recent filing with the SEC. The firm bought 6,269 shares of the semiconductor company’s stock, valued at approximately $291,000. Russell Investments Group Ltd. owned about 0.13% of NVE at the end of the most recent quarter.

Other institutional investors have also recently bought and sold shares of the company. Advisor Group Holdings Inc. boosted its holdings in NVE by 97.9% during the first quarter. Advisor Group Holdings Inc. now owns 768 shares of the semiconductor company’s stock valued at $41,000 after acquiring an additional 380 shares during the period. Amalgamated Bank acquired a new stake in NVE in the 1st quarter valued at approximately $42,000. MetLife Investment Management LLC increased its position in NVE by 54.6% in the 1st quarter. MetLife Investment Management LLC now owns 3,201 shares of the semiconductor company’s stock worth $174,000 after buying an additional 1,131 shares during the period. Connors Investor Services Inc. lifted its holdings in shares of NVE by 10.9% during the first quarter. Connors Investor Services Inc. now owns 5,852 shares of the semiconductor company’s stock worth $319,000 after buying an additional 575 shares during the last quarter. Finally, Invesco Ltd. boosted its position in shares of NVE by 6.2% in the first quarter. Invesco Ltd. now owns 7,010 shares of the semiconductor company’s stock valued at $381,000 after acquiring an additional 407 shares during the period. Institutional investors own 56.20% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts recently commented on the stock. TheStreet upgraded shares of NVE from a “c+” rating to a “b-” rating in a research note on Monday, October 24th. StockNews.com raised shares of NVE from a “hold” rating to a “buy” rating in a research report on Tuesday, October 25th.

NVE Price Performance

NVEC opened at $66.24 on Wednesday. NVE Co. has a fifty-two week low of $43.35 and a fifty-two week high of $75.50. The company has a market capitalization of $320.01 million, a P/E ratio of 18.25 and a beta of 1.26. The firm’s fifty day moving average price is $52.61 and its two-hundred day moving average price is $50.20.

NVE Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, November 30th. Stockholders of record on Monday, October 31st will be paid a $1.00 dividend. The ex-dividend date is Friday, October 28th. This represents a $4.00 annualized dividend and a dividend yield of 6.04%. NVE’s dividend payout ratio is presently 110.19%.

About NVE

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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.