Investors Buy Shares of Nvidia Corp. (NVDA) on Weakness
Investors bought shares of Nvidia Corp. (NASDAQ:NVDA) on weakness during trading hours on Friday. $92.29 million flowed into the stock on the tick-up and $84.25 million flowed out of the stock on the tick-down, for a money net flow of $8.04 million into the stock. Of all stocks tracked, Nvidia Corp. had the 55th highest net in-flow for the day. Nvidia Corp. traded down ($0.62) for the day and closed at $62.53
NVDA has been the topic of several analyst reports. B. Riley reaffirmed a “buy” rating and issued a $44.00 target price on shares of Nvidia Corp. in a report on Monday, May 9th. Bank of America Corp. reissued a “buy” rating and set a $43.00 price objective on shares of Nvidia Corp. in a report on Monday, May 9th. Zacks Investment Research cut shares of Nvidia Corp. from a “buy” rating to a “hold” rating in a report on Wednesday, May 11th. Royal Bank Of Canada raised their price objective on shares of Nvidia Corp. from $36.00 to $40.00 and gave the stock a “sector perform” rating in a report on Friday, May 13th. Finally, Wedbush raised their price objective on shares of Nvidia Corp. from $38.00 to $42.00 and gave the stock an “outperform” rating in a report on Friday, May 13th. Two research analysts have rated the stock with a sell rating, thirteen have issued a hold rating and nineteen have issued a buy rating to the company. The company presently has a consensus rating of “Buy” and an average target price of $54.89.
The company’s 50 day moving average is $58.86 and its 200 day moving average is $44.32. The stock has a market capitalization of $33.45 billion and a P/E ratio of 41.08.
Nvidia Corp. (NASDAQ:NVDA) last announced its earnings results on Thursday, August 11th. The computer hardware maker reported $0.53 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.37 by $0.16. The company earned $1.43 billion during the quarter, compared to analysts’ expectations of $1.35 billion. During the same quarter last year, the firm posted $0.34 earnings per share. The firm’s revenue was up 23.9% on a year-over-year basis. Analysts anticipate that Nvidia Corp. will post $1.84 earnings per share for the current year.
The business also recently announced a quarterly dividend, which will be paid on Friday, September 16th. Investors of record on Thursday, August 25th will be given a $0.115 dividend. The ex-dividend date is Tuesday, August 23rd. This represents a $0.46 annualized dividend and a yield of 0.74%.
In related news, CEO Jen Hsun Huang sold 40,000 shares of the company’s stock in a transaction on Friday, June 10th. The shares were 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 directly owns 1,817,279 shares in the company, valued at $84,485,300.71. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director A Brooke Seawell sold 5,142 shares of the company’s stock in a transaction on Thursday, June 16th. The stock was sold at an average price of $47.01, for a total transaction of $241,725.42. Following the completion of the transaction, 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.
A hedge fund recently raised its stake in Nvidia Corp. stock. BNP Paribas Arbitrage SA increased its position in Nvidia Corp. (NASDAQ:NVDA) by 86.4% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 132,845 shares of the computer hardware maker’s stock after buying an additional 61,580 shares during the period. BNP Paribas Arbitrage SA’s holdings in Nvidia Corp. were worth $4,379,000 at the end of the most recent reporting 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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