Nvidia Corp. (NVDA) Reaches New 52-Week High at $53.80
Nvidia Corp. (NASDAQ:NVDA)’s share price reached a new 52-week high during trading on Thursday . The stock traded as high as $53.80 and last traded at $53.56, with a volume of 4,774,263 shares trading hands. The stock had previously closed at $52.78.
Several equities analysts recently commented on NVDA shares. Vetr upgraded shares of Nvidia Corp. from a “sell” rating to a “hold” rating and set a $46.19 price target on the stock in a research note on Thursday, June 2nd. Jefferies Group reiterated a “buy” rating and set a $45.00 price objective on shares of Nvidia Corp. in a research note on Sunday, May 22nd. Needham & Company LLC reiterated a “hold” rating on shares of Nvidia Corp. in a research note on Saturday, May 14th. Barclays PLC reiterated a “sell” rating on shares of Nvidia Corp. in a research note on Saturday, May 14th. Finally, B. Riley reiterated a “buy” rating and set a $58.00 price objective on shares of Nvidia Corp. in a research note on Monday. Two investment analysts have rated the stock with a sell rating, thirteen have given a hold rating and sixteen have given a buy rating to the company. The company currently has an average rating of “Hold” and a consensus target price of $41.07.
The firm’s 50-day moving average price is $47.40 and its 200-day moving average price is $36.74. The company has a market capitalization of $28.56 billion and a price-to-earnings ratio of 45.63.
Nvidia Corp. (NASDAQ:NVDA) last released its earnings results on Thursday, May 12th. The computer hardware maker reported $0.46 EPS for the quarter, topping analysts’ consensus estimates of $0.32 by $0.14. The company earned $1.31 billion during the quarter, compared to analysts’ expectations of $1.26 billion. The company’s revenue was up 13.5% on a year-over-year basis. During the same period in the prior year, the company posted $0.33 earnings per share. On average, equities research analysts expect that Nvidia Corp. will post $1.57 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which was paid on Monday, June 20th. Investors of record on Thursday, May 26th were given a dividend of $0.115 per share. The ex-dividend date of this dividend was Tuesday, May 24th. This represents a $0.46 annualized dividend and a dividend yield of 0.87%.
In related news, CEO Jen Hsun Huang sold 40,000 shares of the stock in a transaction on Wednesday, May 11th. The stock was sold at an average price of $36.08, for a total transaction of $1,443,200.00. Following the sale, the chief executive officer now directly owns 1,817,279 shares of the company’s stock, valued at $65,567,426.32. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, CAO David M. Shannon sold 271,049 shares of the stock in a transaction on Monday, May 16th. The shares were sold at an average price of $42.07, for a total value of $11,403,031.43. Following the sale, the chief accounting officer now directly owns 444,329 shares in the company, valued at $18,692,921.03. The disclosure for this sale can be found here.
Other large investors have added to or reduced their stakes in the company. Commonwealth of Pennsylvania Public School Empls Retrmt SYS boosted its stake in Nvidia Corp. by 1.5% in the fourth quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 33,393 shares of the computer hardware maker’s stock valued at $1,101,000 after buying an additional 494 shares during the period. Cowen Group Inc. boosted its stake in Nvidia Corp. by 10.0% in the fourth quarter. Cowen Group Inc. now owns 33,525 shares of the computer hardware maker’s stock valued at $1,105,000 after buying an additional 3,050 shares during the period. Bailard Inc. boosted its stake in Nvidia Corp. by 243.0% in the fourth quarter. Bailard Inc. now owns 35,200 shares of the computer hardware maker’s stock valued at $1,160,000 after buying an additional 24,937 shares during the period. Connective Capital Management LLC acquired a new stake in Nvidia Corp. during the fourth quarter valued at approximately $1,198,000. Finally, US Bancorp DE boosted its stake in Nvidia Corp. by 2.5% in the fourth quarter. US Bancorp DE now owns 38,194 shares of the computer hardware maker’s stock valued at $1,260,000 after buying an additional 947 shares during the period.
NVIDIA Corporation (NVIDIA) is engaged in visual computing. The Company operates through segments, including GPU and Tegra Processor. Its GPU businesses include GeForce for personal computer (PC) gaming; Quadro for design professionals working in computer-aided design, video editing, special effects and other creative applications; Tesla for deep learning and accelerated computing, leveraging the parallel computing capabilities of graphics processing units (GPUs) for general purpose computing, and GRID to provide the power of NVIDIA graphics through the cloud and datacenters.
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