Nvidia Corp. (NVDA) Trading Down 1.4%
Shares of Nvidia Corp. (NASDAQ:NVDA) were down 1.4% during trading on Friday . The stock traded as low as $62.16 and last traded at $62.29, with a volume of 4,802,149 shares trading hands. The stock had previously closed at $63.15.
Several analysts have 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 restated a “buy” rating and issued a $45.00 price objective on shares of Nvidia Corp. in a research report on Sunday, May 22nd. RBC Capital Markets restated an “outperform” rating and issued a $72.00 price objective on shares of Nvidia Corp. in a research report on Wednesday. Needham & Company LLC restated a “hold” rating on shares of Nvidia Corp. in a research report on Saturday, May 14th. Finally, Barclays PLC restated a “sell” rating on shares of Nvidia Corp. in a research report on Saturday, May 14th. Two analysts have rated the stock with a sell rating, thirteen have issued a hold rating and nineteen have assigned a buy rating to the stock. Nvidia Corp. has an average rating of “Buy” and a consensus price target of $54.89.
The firm’s 50 day moving average is $58.86 and its 200-day moving average is $44.32. The company has a market capitalization of $33.45 billion and a PE ratio of 41.08.
Nvidia Corp. (NASDAQ:NVDA) last issued its quarterly earnings results on Thursday, August 11th. The computer hardware maker reported $0.53 EPS for the quarter, topping the Zacks’ consensus estimate of $0.37 by $0.16. The company earned $1.43 billion during the quarter, compared to the consensus estimate of $1.35 billion. Nvidia Corp.’s quarterly revenue was up 23.9% on a year-over-year basis. During the same period in the previous year, the company earned $0.34 EPS. On average, analysts predict that Nvidia Corp. will post $1.84 EPS for the current year.
The business also recently declared a quarterly dividend, which will be paid on Friday, September 16th. Stockholders of record on Thursday, August 25th will be issued a $0.115 dividend. This represents a $0.46 dividend on an annualized basis and a dividend yield of 0.74%. The ex-dividend date is Tuesday, August 23rd.
In other news, CEO Jen Hsun Huang sold 40,000 shares of the 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 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 Securities & Exchange Commission, which is available through this link. Also, insider Michael Byron sold 409 shares of the stock in a transaction on Thursday, September 1st. The stock was sold at an average price of $63.35, for a total transaction of $25,910.15. 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 13F filing with the Securities and Exchange Commission (SEC). The firm 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 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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