Nvidia Corp. (NVDA) Sets New 1-Year High at $54.35
Shares of Nvidia Corp. (NASDAQ:NVDA) reached a new 52-week high during mid-day trading on Wednesday . The stock traded as high as $54.35 and last traded at $54.29, with a volume of 3,911,736 shares. The stock had previously closed at $53.52.
NVDA has been the topic of several research analyst reports. MKM Partners reaffirmed a “buy” rating and set a $39.00 target price on shares of Nvidia Corp. in a research note on Monday, March 28th. B. Riley reaffirmed a “buy” rating and set a $37.00 target price on shares of Nvidia Corp. in a research note on Wednesday, March 30th. Vetr cut Nvidia Corp. from a “buy” rating to a “hold” rating and set a $35.86 target price on the stock. in a research note on Thursday, March 31st. Royal Bank Of Canada lifted their target price on Nvidia Corp. from $32.00 to $36.00 and gave the company a “sector perform” rating in a research note on Friday, April 1st. Finally, Jefferies Group lifted their target price on Nvidia Corp. from $40.00 to $42.00 and gave the company a “buy” rating in a research note on Monday, April 4th. Three analysts have rated the stock with a sell rating, eleven have issued a hold rating and eighteen have issued a buy rating to the company. Nvidia Corp. presently has a consensus rating of “Hold” and a consensus price target of $42.63.
The company has a market cap of $28.96 billion and a PE ratio of 46.28. The firm’s 50-day moving average is $48.21 and its 200-day moving average is $37.32.
Nvidia Corp. (NASDAQ:NVDA) last posted its quarterly earnings results on Thursday, May 12th. The computer hardware maker reported $0.46 EPS for the quarter, topping the Zacks’ consensus estimate of $0.32 by $0.14. The company earned $1.31 billion during the quarter, compared to the consensus estimate of $1.26 billion. During the same period in the previous year, the business earned $0.33 earnings per share. Nvidia Corp.’s revenue was up 13.5% on a year-over-year basis. On average, equities research analysts expect that Nvidia Corp. will post $1.57 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Monday, June 20th. Stockholders of record on Thursday, May 26th were issued a $0.115 dividend. This represents a $0.46 dividend on an annualized basis and a dividend yield of 0.86%. The ex-dividend date of this dividend was Tuesday, May 24th.
In other news, CEO Jen Hsun Huang sold 40,000 shares of the firm’s stock in a transaction on Wednesday, July 13th. The stock was sold at an average price of $52.94, for a total value of $2,117,600.00. Following the completion of the transaction, the chief executive officer now directly owns 1,817,279 shares of the company’s stock, valued at $96,206,750.26. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Mark L. Perry sold 35,000 shares of the firm’s stock in a transaction on Wednesday, July 13th. The stock was sold at an average price of $52.93, for a total value of $1,852,550.00. Following the completion of the transaction, the director now directly owns 97,292 shares of the company’s stock, valued at $5,149,665.56. The disclosure for this sale can be found here.
Several institutional investors recently bought and sold shares of the company. KBC Group NV raised its position in Nvidia Corp. by 33.2% in the fourth quarter. KBC Group NV now owns 523,163 shares of the computer hardware maker’s stock worth $17,243,000 after buying an additional 130,422 shares during the last quarter. State of Tennessee Treasury Department increased its stake in shares of Nvidia Corp. by 41.7% in the fourth quarter. State of Tennessee Treasury Department now owns 653,252 shares of the computer hardware maker’s stock worth $21,531,000 after buying an additional 192,209 shares during the period. Employees Retirement System of Texas increased its stake in shares of Nvidia Corp. by 24.2% in the fourth quarter. Employees Retirement System of Texas now owns 44,700 shares of the computer hardware maker’s stock worth $1,473,000 after buying an additional 8,700 shares during the period. BNP Paribas Arbitrage SA increased its stake in shares of Nvidia Corp. by 86.4% in the fourth quarter. BNP Paribas Arbitrage SA now owns 132,845 shares of the computer hardware maker’s stock worth $4,379,000 after buying an additional 61,580 shares during the period. Finally, WBI Investments Inc. acquired a new stake in shares of Nvidia Corp. during the fourth quarter worth about $2,903,000.
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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