NVE (NVEC) Declares $1.00 Dividend
NVE said on July 19, 2023 that its board of directors declared a regular quarterly dividend of $1.00 per share ($4.00 annualized). Previously, the company paid $1.00 per share.
Shareholders of record as of July 31, 2023 will receive the payment on August 31, 2023.
At the current share price of $81.35 / share, the stock's dividend yield is 4.92%.
Looking back five years and taking a sample every week, the average dividend yield has been 6.01%, the lowest has been 3.39%, and the highest has been 9.25%. The standard deviation of yields is 1.32 (n=235).
The current dividend yield is 0.83 standard deviations below the historical average.
What is the Fund Sentiment?
There are 175 funds or institutions reporting positions in NVE. This is an increase of 16 owner(s) or 10.06% in the last quarter. Average portfolio weight of all funds dedicated to NVEC is 0.19%, an increase of 24.86%. Total shares owned by institutions increased in the last three months by 0.76% to 3,651K shares.
What are Other Shareholders Doing?
Royce & Associates holds 518K shares representing 10.72% ownership of the company. In it's prior filing, the firm reported owning 552K shares, representing a decrease of 6.48%. The firm increased its portfolio allocation in NVEC by 14.65% over the last quarter.
Kayne Anderson Rudnick Investment Management holds 467K shares representing 9.65% ownership of the company. In it's prior filing, the firm reported owning 448K shares, representing an increase of 3.90%. The firm increased its portfolio allocation in NVEC by 25.70% over the last quarter.
RYSEX - Royce Special Equity Fund Investment Class holds 368K shares representing 7.61% ownership of the company. In it's prior filing, the firm reported owning 372K shares, representing a decrease of 0.95%. The firm increased its portfolio allocation in NVEC by 22.59% over the last quarter.
PSGAX - Virtus KAR Small-Cap Growth Fund holds 246K shares representing 5.08% ownership of the company. In it's prior filing, the firm reported owning 273K shares, representing a decrease of 11.18%. The firm increased its portfolio allocation in NVEC by 3.36% over the last quarter.
VTSMX - Vanguard Total Stock Market Index Fund Investor Shares holds 146K shares representing 3.02% ownership of the company. No change in the last quarter.
NVE Background Information
(This description is provided by the company.)
NVE is a leader in the practical commercialization of spintronics, a nanotechnology that relies on electron spin rather than electron charge to acquire, store and transmit information. The company manufactures high-performance spintronic products including sensors and couplers that are used to acquire and transmit data.
Additional reading:
- Second Amendment Sonova Supply Agreement (incorporated by reference to the Form 8-K/A filed July 19, 2023).
- NVE Corporation Reports First Quarter Results and Announces Quarterly Dividend
- NVE Corporation Reports Fourth Quarter and Fiscal Year Results and Announces Quarterly Dividend
- Description of the registrant’s securities registered pursuant to Section 12 of the Securities Exchange Act of 1934.
- AGREEMENT JOINT FILING OF SCHEDULE 13G
This story originally appeared on Fintel.