Short Interest in Nvidia Corp. (NVDA) Expands By 7.3%
Nvidia Corp. (NASDAQ:NVDA) saw a large increase in short interest in the month of September. As of September 15th, there was short interest totalling 57,601,051 shares, an increase of 7.3% from the August 31st total of 53,661,383 shares. Approximately 11.4% of the shares of the company are short sold. Based on an average trading volume of 10,937,206 shares, the days-to-cover ratio is presently 5.3 days.
In other Nvidia Corp. news, Director A Brooke Seawell sold 30,000 shares of Nvidia Corp. stock in a transaction dated Friday, September 16th. The stock was sold at an average price of $62.52, for a total transaction of $1,875,600.00. Following the completion of the sale, the director now owns 6,213 shares of the company’s stock, valued at approximately $388,436.76. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Tench Coxe sold 82,269 shares of Nvidia Corp. stock in a transaction dated Tuesday, September 27th. The stock was sold at an average price of $65.74, for a total value of $5,408,364.06. The disclosure for this sale can be found here. Company insiders own 5.82% of the company’s stock.
Several large investors have recently added to or reduced their stakes in the stock. Macquarie Group Ltd. raised its position in Nvidia Corp. by 1,439.3% in the second quarter. Macquarie Group Ltd. now owns 164,700 shares of the computer hardware maker’s stock valued at $7,743,000 after buying an additional 154,000 shares in the last quarter. Williams Jones & Associates LLC bought a new position in Nvidia Corp. during the second quarter valued at $945,000. Kentucky Retirement Systems Insurance Trust Fund bought a new position in Nvidia Corp. during the second quarter valued at $963,000. Kentucky Retirement Systems bought a new position in Nvidia Corp. during the second quarter valued at $2,028,000. Finally, Northwestern Mutual Investment Management Company LLC raised its position in Nvidia Corp. by 2.5% in the second quarter. Northwestern Mutual Investment Management Company LLC now owns 100,309 shares of the computer hardware maker’s stock valued at $4,716,000 after buying an additional 2,404 shares in the last quarter. Institutional investors and hedge funds own 86.37% of the company’s stock.
Nvidia Corp. (NASDAQ:NVDA) opened at 68.52 on Friday. The firm has a 50-day moving average of $63.00 and a 200 day moving average of $48.79. The firm has a market cap of $36.66 billion, a P/E ratio of 45.02 and a beta of 1.26. Nvidia Corp. has a 1-year low of $24.75 and a 1-year high of $69.19.
Nvidia Corp. (NASDAQ:NVDA) last released its quarterly earnings results on Thursday, August 11th. The computer hardware maker reported $0.53 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.37 by $0.16. Nvidia Corp. had a net margin of 16.58% and a return on equity of 20.86%. The business had revenue of $1.43 billion for the quarter, compared to analyst estimates of $1.35 billion. During the same quarter in the previous year, the business earned $0.34 earnings per share. The firm’s revenue was up 23.9% compared to the same quarter last year. On average, analysts predict that Nvidia Corp. will post $1.85 EPS for the current year.
The company also recently declared a quarterly dividend, which was paid on Friday, September 16th. Stockholders of record on Thursday, August 25th were issued a dividend of $0.115 per share. The ex-dividend date of this dividend was Tuesday, August 23rd. This represents a $0.46 dividend on an annualized basis and a dividend yield of 0.67%. Nvidia Corp.’s dividend payout ratio is currently 30.26%.
A number of analysts have commented on NVDA shares. Zacks Investment Research raised Nvidia Corp. from a “hold” rating to a “buy” rating and set a $51.00 price target for the company in a research report on Tuesday, June 28th. Vetr upgraded Nvidia Corp. from a “hold” rating to a “buy” rating and set a $47.09 price objective for the company in a research note on Monday, June 27th. B. Riley reiterated a “buy” rating and set a $58.00 price objective on shares of Nvidia Corp. in a research note on Wednesday, June 22nd. Canaccord Genuity reiterated a “buy” rating and set a $55.00 price objective (up previously from $45.00) on shares of Nvidia Corp. in a research note on Thursday, June 16th. Finally, MKM Partners reiterated a “buy” rating and set a $52.00 price objective (up previously from $43.00) on shares of Nvidia Corp. in a research note on Monday, June 13th. Two equities research analysts have rated the stock with a sell rating, fourteen have given a hold rating and nineteen have issued a buy rating to the company’s stock. Nvidia Corp. presently has an average rating of “Hold” and an average target price of $58.32.
Nvidia Corp. Company Profile
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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