Metropolitan Life Insurance Co. NY raised its stake in shares of NVE Corp (NASDAQ:NVEC) by 313.4% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,513 shares of the semiconductor company’s stock after purchasing an additional 1,147 shares during the period. Metropolitan Life Insurance Co. NY’s holdings in NVE were worth $132,000 as of its most recent SEC filing.
A number of other hedge funds also recently made changes to their positions in NVEC. BlackRock Inc. grew its stake in shares of NVE by 1.2% in the third quarter. BlackRock Inc. now owns 350,595 shares of the semiconductor company’s stock worth $37,120,000 after acquiring an additional 4,261 shares during the last quarter. Teachers Advisors LLC lifted its position in NVE by 8.6% in the third quarter. Teachers Advisors LLC now owns 9,844 shares of the semiconductor company’s stock worth $1,042,000 after purchasing an additional 783 shares during the period. Townsquare Capital LLC bought a new position in NVE in the fourth quarter worth $332,000. Isthmus Partners LLC lifted its position in NVE by 11.7% in the fourth quarter. Isthmus Partners LLC now owns 12,121 shares of the semiconductor company’s stock worth $1,061,000 after purchasing an additional 1,265 shares during the period. Finally, Morgan Stanley lifted its position in NVE by 20.1% in the third quarter. Morgan Stanley now owns 21,452 shares of the semiconductor company’s stock worth $2,272,000 after purchasing an additional 3,587 shares during the period. Institutional investors own 76.78% of the company’s stock.
Several brokerages recently commented on NVEC. BidaskClub raised NVE from a “buy” rating to a “strong-buy” rating in a research report on Monday, February 25th. ValuEngine raised NVE from a “hold” rating to a “buy” rating in a research report on Monday, February 4th.
Shares of NVEC stock opened at $100.68 on Friday. The firm has a market capitalization of $487.90 million, a P/E ratio of 30.72 and a beta of 1.30. NVE Corp has a one year low of $80.03 and a one year high of $135.00.
NVE (NASDAQ:NVEC) last issued its earnings results on Wednesday, January 23rd. The semiconductor company reported $0.71 EPS for the quarter. The firm had revenue of $6.27 million during the quarter. NVE had a return on equity of 18.22% and a net margin of 53.96%.
NVE Corporation develops and sells devices that use spintronics, a nanotechnology that utilizes electron spin to acquire, store, and transmit information. The company manufactures spintronic products, including sensors and couplers for use in acquiring and transmitting data. Its products comprise standard sensors to detect the presence of a magnetic or metallic material to determine position or speed primarily for the factory automation market; and custom and medical sensors for medical devices to replace electromechanical magnetic switches.
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