Nvidia Corp. (NVDA) Sees Large Volume Increase
Nvidia Corp. (NASDAQ:NVDA) saw unusually-high trading volume on Friday . Approximately 7,089,909 shares traded hands during mid-day trading, a decline of 26% from the previous session’s volume of 9,631,719 shares.The stock last traded at $52.76 and had previously closed at $53.32.
NVDA has been the topic of a number of recent research reports. Vetr lowered shares of Nvidia Corp. from a “hold” rating to a “sell” rating and set a $48.46 target price on the stock. in a report on Monday. Wells Fargo & Co. lowered shares of Nvidia Corp. from a “market perform” rating to an “underperform” rating and upped their target price for the company from $19.09 to $46.70 in a report on Friday. Mizuho initiated coverage on shares of Nvidia Corp. in a report on Thursday. They issued a “buy” rating and a $60.00 target price on the stock. KeyCorp restated a “hold” rating on shares of Nvidia Corp. in a report on Wednesday, July 6th. Finally, BMO Capital Markets restated a “hold” rating on shares of Nvidia Corp. in a report on Sunday, July 10th. Three investment analysts have rated the stock with a sell rating, twelve have issued a hold rating and seventeen have given a buy rating to the stock. The company presently has an average rating of “Hold” and an average target price of $41.92.
The company has a market cap of $28.14 billion and a price-to-earnings ratio of 44.97. The firm’s 50 day moving average price is $47.64 and its 200 day moving average price is $36.86.
Nvidia Corp. (NASDAQ:NVDA) last announced its quarterly earnings results on Thursday, May 12th. The computer hardware maker reported $0.46 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.32 by $0.14. The business earned $1.31 billion during the quarter, compared to the consensus estimate of $1.26 billion. During the same quarter last year, the company earned $0.33 earnings per share. The firm’s revenue was up 13.5% compared to the same quarter last year. On average, equities analysts predict that Nvidia Corp. will post $1.57 EPS for the current year.
The firm also recently declared a quarterly dividend, which was paid on Monday, June 20th. Shareholders of record on Thursday, May 26th were issued a $0.115 dividend. 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 other Nvidia Corp. news, CAO David M. Shannon sold 271,049 shares of the stock in a transaction dated Monday, May 16th. The stock was sold at an average price of $42.07, for a total value of $11,403,031.43. Following the completion of the sale, the chief accounting officer now directly owns 444,329 shares in the company, valued at $18,692,921.03. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director A Brooke Seawell sold 5,142 shares of the stock in a transaction dated Thursday, June 16th. The stock was sold at an average price of $47.01, for a total value of $241,725.42. Following the completion of the sale, the director now owns 6,213 shares of the company’s stock, valued at $292,073.13. The disclosure for this sale can be found here.
Several hedge funds and institutional investors have recently bought and sold shares of the company. Commonwealth of Pennsylvania Public School Empls Retrmt SYS increased its position 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 worth $1,101,000 after buying an additional 494 shares during the last quarter. Cowen Group Inc. increased its position 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 worth $1,105,000 after buying an additional 3,050 shares during the last quarter. Bailard Inc. increased its position in Nvidia Corp. by 243.0% in the fourth quarter. Bailard Inc. now owns 35,200 shares of the computer hardware maker’s stock worth $1,160,000 after buying an additional 24,937 shares during the last quarter. Connective Capital Management LLC purchased a new position in Nvidia Corp. during the fourth quarter worth about $1,198,000. Finally, US Bancorp DE increased its position 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 worth $1,260,000 after buying an additional 947 shares during the last quarter.
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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