Nvidia Corp. (NVDA) Stock Price Up 2.8%
Nvidia Corp. (NASDAQ:NVDA) shares rose 2.8% during mid-day trading on Thursday . The company traded as high as $63.04 and last traded at $63.03, with a volume of 5,962,426 shares trading hands. The stock had previously closed at $61.34.
NVDA has been the topic of a number of recent research reports. RBC Capital Markets restated an “outperform” rating and issued a $72.00 target price on shares of Nvidia Corp. in a report on Wednesday. Bank of America Corp. restated a “buy” rating and issued a $43.00 target price on shares of Nvidia Corp. in a report on Monday, May 9th. Jefferies Group increased their price objective on shares of Nvidia Corp. from $56.00 to $69.00 and gave the stock a “buy” rating in a report on Monday, August 8th. Needham & Company LLC reiterated a “hold” rating on shares of Nvidia Corp. in a report on Wednesday, August 24th. Finally, Vetr lowered shares of Nvidia Corp. from a “buy” rating to a “sell” rating and set a $38.94 price objective on the stock. in a report on Monday, May 16th. Two investment analysts have rated the stock with a sell rating, thirteen have issued a hold rating and nineteen have given a buy rating to the company’s stock. Nvidia Corp. presently has an average rating of “Buy” and a consensus price target of $54.89.
The stock has a market cap of $33.45 billion and a price-to-earnings ratio of 41.08. The firm has a 50-day moving average price of $58.86 and a 200-day moving average price of $44.32.
Nvidia Corp. (NASDAQ:NVDA) last released its earnings results on Thursday, August 11th. The computer hardware maker reported $0.53 EPS for the quarter, beating the Zacks’ consensus estimate of $0.37 by $0.16. The firm earned $1.43 billion during the quarter, compared to the consensus estimate of $1.35 billion. During the same period in the prior year, the company earned $0.34 EPS. The firm’s revenue was up 23.9% compared to the same quarter last year. On average, analysts anticipate that Nvidia Corp. will post $1.84 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 16th. Stockholders of record on Thursday, August 25th will be paid a dividend of $0.115 per share. The ex-dividend date of this dividend is Tuesday, August 23rd. This represents a $0.46 dividend on an annualized basis and a dividend yield of 0.74%.
In other news, insider Michael Byron sold 409 shares of the firm’s stock in a transaction dated Thursday, September 1st. The stock was sold at an average price of $63.35, for a total transaction of $25,910.15. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CEO Jen Hsun Huang sold 40,000 shares of the firm’s stock in a transaction dated 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 transaction, the chief executive officer now directly owns 1,817,279 shares in the company, valued at $84,485,300.71. The disclosure for this sale can be found here.
An institutional investor recently raised its position in Nvidia Corp. stock. Employees Retirement System of Texas increased its position in shares of Nvidia Corp. (NASDAQ:NVDA) by 24.2% during the fourth quarter, according to its most recent filing with the SEC. The institutional investor 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 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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