Traders Buy Shares of Nvidia Corp. (NVDA) on Weakness
Investors purchased 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 companies 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 subject of several recent research reports. Jefferies Group reissued a “buy” rating and issued a $45.00 price target (up previously from $42.00) on shares of Nvidia Corp. in a research report on Friday, May 13th. Roth Capital raised shares of Nvidia Corp. from a “neutral” rating to a “buy” rating and raised their price target for the company from $34.50 to $40.00 in a research report on Friday, May 13th. Topeka Capital Markets raised shares of Nvidia Corp. from a “hold” rating to a “buy” rating and raised their price target for the company from $36.00 to $44.00 in a research report on Friday, May 13th. Bank of America Corp. reissued a “buy” rating and issued a $43.00 price target on shares of Nvidia Corp. in a research report on Monday, May 9th. Finally, B. Riley reissued a “buy” rating and issued a $44.00 price target on shares of Nvidia Corp. in a research report on Monday, May 9th. Two equities research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and nineteen have assigned a buy rating to the company. The company currently has an average rating of “Buy” and an average target price of $54.89.
The stock has a market capitalization of $33.45 billion and a price-to-earnings ratio of 41.08. The firm’s 50-day moving average is $58.86 and its 200 day moving average is $44.32.
Nvidia Corp. (NASDAQ:NVDA) last announced its earnings results on Thursday, August 11th. The computer hardware maker reported $0.53 EPS for the quarter, topping the consensus estimate of $0.37 by $0.16. The firm earned $1.43 billion during the quarter, compared to analyst estimates of $1.35 billion. The business’s quarterly revenue was up 23.9% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.34 earnings per share. Analysts anticipate that Nvidia Corp. will post $1.84 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Friday, September 16th. Shareholders of record on Thursday, August 25th will be issued a $0.115 dividend. This represents a $0.46 annualized dividend and a dividend yield of 0.74%. The ex-dividend date is Tuesday, August 23rd.
In other Nvidia Corp. news, 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 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 filing with the SEC, which is accessible through this link. Also, Director A Brooke Seawell sold 5,142 shares of the firm’s stock in a transaction dated 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 (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 as of its most recent SEC filing.
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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