Investors Buy Nvidia Corp. (NVDA) on Weakness
Traders purchased shares of Nvidia Corp. (NASDAQ:NVDA) on weakness during trading hours on Monday. $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 25th highest net in-flow for the day. Nvidia Corp. traded down ($0.62) for the day and closed at $62.53
Several equities analysts have recently commented on the company. Vetr downgraded Nvidia Corp. from a “buy” rating to a “hold” rating and set a $65.07 price objective on the stock. in a research report on Thursday. B. Riley restated a “buy” rating and issued a $73.00 price objective on shares of Nvidia Corp. in a research report on Monday, August 15th. Brean Capital restated a “hold” rating on shares of Nvidia Corp. in a research report on Monday, August 15th. Nomura restated a “buy” rating and issued a $62.50 price objective (up from $55.00) on shares of Nvidia Corp. in a research report on Monday, August 15th. Finally, Argus boosted their price objective on Nvidia Corp. from $54.00 to $72.00 and gave the company a “buy” rating in a research report on Monday, August 15th. Two analysts have rated the stock with a sell rating, thirteen have given a hold rating and nineteen have given a buy rating to the stock. Nvidia Corp. has a consensus rating of “Buy” and a consensus price target of $54.89.
The stock has a market cap of $33.45 billion and a PE ratio of 41.08. The stock’s 50-day moving average is $58.86 and its 200-day moving average is $44.32.
Nvidia Corp. (NASDAQ:NVDA) last posted its earnings results on Thursday, August 11th. The computer hardware maker reported $0.53 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.37 by $0.16. The company earned $1.43 billion during the quarter, compared to analyst estimates of $1.35 billion. The firm’s revenue for the quarter was up 23.9% on a year-over-year basis. During the same quarter last year, the business posted $0.34 EPS. On average, analysts predict that Nvidia Corp. will post $1.84 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, September 16th. Shareholders 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 other Nvidia Corp. news, CEO Jen Hsun Huang sold 40,000 shares of the firm’s stock in a transaction that occurred 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 owns 1,817,279 shares of the company’s stock, valued at approximately $84,485,300.71. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director A Brooke Seawell sold 5,142 shares of the firm’s stock in a transaction that occurred on Thursday, June 16th. The shares were 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 directly owns 6,213 shares of the company’s stock, valued at approximately $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 shares of Nvidia Corp. (NASDAQ:NVDA) by 86.4% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund 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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