Nvidia Corp. (NVDA) Trading Up 2.8%
Nvidia Corp. (NASDAQ:NVDA)’s share price was up 2.8% during trading on Thursday . The stock traded as high as $63.04 and last traded at $63.03, with a volume of 5,962,426 shares changing hands. The stock had previously closed at $61.34.
Several equities analysts have recently commented on NVDA shares. Vetr upgraded shares of Nvidia Corp. from a “sell” rating to a “hold” rating and set a $46.19 target price for the company in a research report 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 report on Sunday, May 22nd. RBC Capital Markets reiterated an “outperform” rating and set a $72.00 price objective on shares of Nvidia Corp. in a research report on Wednesday. Barclays PLC reiterated a “sell” rating on shares of Nvidia Corp. in a research report on Saturday, May 14th. Finally, Needham & Company LLC reiterated a “hold” rating on shares of Nvidia Corp. in a research report on Saturday, May 14th. Two analysts have rated the stock with a sell rating, twelve have assigned a hold rating and twenty have assigned a buy rating to the company’s stock. Nvidia Corp. presently has an average rating of “Buy” and a consensus price target of $54.91.
The firm has a 50-day moving average price of $58.31 and a 200 day moving average price of $44.05. The firm has a market capitalization of $33.79 billion and a PE ratio of 41.49.
Nvidia Corp. (NASDAQ:NVDA) last announced its quarterly earnings results on Thursday, August 11th. The computer hardware maker reported $0.53 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.37 by $0.16. During the same quarter in the previous year, the firm earned $0.34 EPS. The firm earned $1.43 billion during the quarter, compared to the consensus estimate of $1.35 billion. The business’s revenue for the quarter was up 23.9% on a year-over-year basis. Equities research analysts expect that Nvidia Corp. will post $1.84 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Friday, September 16th. Investors of record on Thursday, August 25th will be paid a $0.115 dividend. This represents a $0.46 dividend on an annualized basis and a yield of 0.73%. The ex-dividend date of this dividend is Tuesday, August 23rd.
In other Nvidia Corp. news, CEO Jen Hsun Huang sold 40,000 shares of the business’s stock in a transaction dated Friday, June 10th. The stock was sold at an average price of $46.49, for a total value of $1,859,600.00. Following the completion of the transaction, the chief executive officer now owns 1,817,279 shares of the company’s stock, valued at approximately $84,485,300.71. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CFO Colette Kress sold 38,039 shares of the business’s stock in a transaction dated Monday, August 29th. The stock was sold at an average price of $62.18, for a total value of $2,365,265.02. Following the completion of the transaction, the chief financial officer now directly owns 512,374 shares of the company’s stock, valued at approximately $31,859,415.32. The disclosure for this sale can be found here.
A hedge fund recently raised its stake in Nvidia Corp. stock. Employees Retirement System of Texas raised its position in Nvidia Corp. (NASDAQ:NVDA) by 24.2% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 44,700 shares of the computer hardware maker’s stock after buying an additional 8,700 shares during the period. Employees Retirement System of Texas’ holdings in Nvidia Corp. were worth $1,473,000 as of its most recent filing with the SEC.
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.