Nvidia Corp. (NVDA) Sets New 1-Year High at $49.06
Nvidia Corp. (NASDAQ:NVDA) shares reached a new 52-week high during mid-day trading on Thursday . The company traded as high as $49.06 and last traded at $48.71, with a volume of 5,640,587 shares traded. The stock had previously closed at $47.65.
A number of research analysts recently issued reports on NVDA shares. Vetr upgraded Nvidia Corp. from a “sell” rating to a “hold” rating and set a $46.19 price objective for the company in a report on Thursday, June 2nd. Jefferies Group restated a “buy” rating and issued a $45.00 price target on shares of Nvidia Corp. in a research note on Sunday, May 22nd. Barclays PLC restated a “sell” rating on shares of Nvidia Corp. in a research note on Saturday, May 14th. Needham & Company LLC restated a “hold” rating on shares of Nvidia Corp. in a research note on Saturday, May 14th. Finally, B. Riley restated a “buy” rating and issued a $37.00 price target on shares of Nvidia Corp. in a research note on Wednesday, March 30th. One research analyst has rated the stock with a sell rating, thirteen have issued a hold rating and sixteen have assigned a buy rating to the company’s stock. The company currently has an average rating of “Buy” and an average target price of $41.07.
The stock’s 50-day moving average price is $46.71 and its 200 day moving average price is $36.31. The firm has a market cap of $27.15 billion and a P/E ratio of 43.39.
Nvidia Corp. (NASDAQ:NVDA) last issued its quarterly earnings data on Thursday, May 12th. The computer hardware maker reported $0.46 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.32 by $0.14. The business earned $1.31 billion during the quarter, compared to analysts’ expectations of $1.26 billion. During the same quarter last year, the business posted $0.33 EPS. The company’s quarterly revenue was up 13.5% on a year-over-year basis. On average, analysts predict that Nvidia Corp. will post $1.57 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Monday, June 20th. Shareholders of record on Thursday, May 26th were given a dividend of $0.115 per share. The ex-dividend date of this dividend was Tuesday, May 24th. This represents a $0.46 dividend on an annualized basis and a yield of 0.90%.
In other Nvidia Corp. news, Director Mark A. Stevens sold 150,000 shares of the firm’s stock in a transaction dated Tuesday, May 24th. The stock was sold at an average price of $45.41, for a total transaction of $6,811,500.00. Following the sale, the director now owns 31,253 shares in the company, valued at $1,419,198.73. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Michael Byron sold 19,347 shares of the firm’s stock in a transaction dated Thursday, May 19th. The shares were sold at an average price of $43.38, for a total value of $839,272.86. Following the sale, the insider now owns 155,022 shares in the company, valued at approximately $6,724,854.36. The disclosure for this sale can be found here.
Other large investors have recently added to or reduced their stakes in the company. OppenheimerFunds Inc. purchased a new stake in Nvidia Corp. during the fourth quarter worth $96,172,000. Teacher Retirement System of Texas increased its stake in Nvidia Corp. by 330.8% in the fourth quarter. Teacher Retirement System of Texas now owns 124,145 shares of the computer hardware maker’s stock worth $4,092,000 after buying an additional 95,326 shares during the last quarter. New York State Common Retirement Fund increased its stake in Nvidia Corp. by 0.4% in the fourth quarter. New York State Common Retirement Fund now owns 1,248,900 shares of the computer hardware maker’s stock worth $41,164,000 after buying an additional 5,500 shares during the last quarter. CI Investments Inc. purchased a new stake in Nvidia Corp. during the fourth quarter worth $2,980,000. Finally, ProShare Advisors LLC increased its stake in Nvidia Corp. by 1.3% in the fourth quarter. ProShare Advisors LLC now owns 276,905 shares of the computer hardware maker’s stock worth $9,127,000 after buying an additional 3,424 shares during the last 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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