Nvidia Corp. (NASDAQ:NVDA)’s share price hit a new 52-week high during mid-day trading on Wednesday . The company traded as high as $54.35 and last traded at $54.29, with a volume of 3,911,736 shares changing hands. The stock had previously closed at $53.52.

A number of brokerages have recently issued reports on NVDA. Needham & Company LLC restated a “buy” rating on shares of Nvidia Corp. in a research note on Monday. Canaccord Genuity restated a “buy” rating and issued a $60.00 price objective on shares of Nvidia Corp. in a research note on Monday. B. Riley restated a “buy” rating and issued a $58.00 price objective on shares of Nvidia Corp. in a research note on Saturday, July 16th. Wells Fargo & Co. cut shares of Nvidia Corp. from a “market perform” rating to an “underperform” rating and increased their price objective for the company from $19.09 to $46.70 in a research note on Friday, July 15th. Finally, Mizuho began coverage on shares of Nvidia Corp. in a research note on Thursday, July 14th. They issued a “buy” rating and a $60.00 price objective for the company. 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’s stock. Nvidia Corp. has an average rating of “Hold” and an average price target of $42.63.

The company has a 50 day moving average price of $48.61 and a 200 day moving average price of $37.55. The firm has a market cap of $28.42 billion and a price-to-earnings ratio of 45.41.

Nvidia Corp. (NASDAQ:NVDA) last issued its quarterly earnings data on Thursday, May 12th. The computer hardware maker reported $0.46 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.32 by $0.14. During the same quarter last year, the business earned $0.33 EPS. The business earned $1.31 billion during the quarter, compared to the consensus estimate of $1.26 billion. The firm’s quarterly revenue was up 13.5% compared to the same quarter last year. On average, equities research analysts forecast that Nvidia Corp. will post $1.57 EPS for the current year.

In other Nvidia Corp. news, CAO David M. Shannon sold 271,049 shares of the stock in a transaction that occurred on Monday, May 16th. The shares were sold at an average price of $42.07, for a total transaction of $11,403,031.43. Following the completion of the sale, the chief accounting officer now owns 444,329 shares of the company’s stock, valued at approximately $18,692,921.03. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Mark L. Perry sold 35,000 shares of the stock in a transaction that occurred on Wednesday, July 13th. The shares were sold at an average price of $52.93, for a total transaction of $1,852,550.00. Following the sale, the director now directly owns 97,292 shares of the company’s stock, valued at approximately $5,149,665.56. The disclosure for this sale can be found here.

A number of hedge funds have recently added to or reduced their stakes in NVDA. Commonwealth of Pennsylvania Public School Empls Retrmt SYS increased 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 worth $1,101,000 after buying an additional 494 shares in the last quarter. Cowen Group Inc. increased 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 worth $1,105,000 after buying an additional 3,050 shares in the last quarter. Bailard Inc. increased 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 worth $1,160,000 after buying an additional 24,937 shares in the last quarter. US Bancorp DE increased 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 worth $1,260,000 after buying an additional 947 shares in the last quarter. Finally, Sawtooth Asset Management Inc. increased its stake in Nvidia Corp. by 2,036.1% in the fourth quarter. Sawtooth Asset Management Inc. now owns 41,205 shares of the computer hardware maker’s stock worth $1,358,000 after buying an additional 39,276 shares in 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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