Nvidia Corp. (NVDA) Shares Gap Up to $50.85
Nvidia Corp. (NASDAQ:NVDA) shares gapped up prior to trading on Monday . The stock had previously closed at $50.42, but opened at $50.85. Nvidia Corp. shares last traded at $52.21, with a volume of 6,445,437 shares changing hands.
A number of research firms have recently weighed in on NVDA. B. Riley restated a “buy” rating and issued a $58.00 target price on shares of Nvidia Corp. in a report on Monday. Vetr lowered Nvidia Corp. from a “hold” rating to a “sell” rating and set a $48.46 price target on the stock. in a report on Monday. BMO Capital Markets reiterated a “hold” rating on shares of Nvidia Corp. in a report on Sunday. KeyCorp reiterated a “hold” rating on shares of Nvidia Corp. in a report on Wednesday, July 6th. Finally, Zacks Investment Research upgraded Nvidia Corp. from a “hold” rating to a “buy” rating and set a $51.00 price target on the stock in a report on Tuesday, June 28th. Two analysts have rated the stock with a sell rating, thirteen have given a hold rating and sixteen have given a buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus target price of $41.07.
The firm has a 50 day moving average of $46.93 and a 200-day moving average of $36.50. The company has a market cap of $27.78 billion and a P/E ratio of 44.39.
Nvidia Corp. (NASDAQ:NVDA) last announced its quarterly earnings data on Thursday, May 12th. The computer hardware maker reported $0.46 EPS for the quarter, topping the Zacks’ consensus estimate of $0.32 by $0.14. The firm earned $1.31 billion during the quarter, compared to analyst estimates of $1.26 billion. During the same quarter in the previous year, the business earned $0.33 earnings per share. Nvidia Corp.’s revenue for the quarter was up 13.5% compared to the same quarter last year. Analysts forecast that Nvidia Corp. will post $1.57 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Monday, June 20th. Investors of record on Thursday, May 26th were given a $0.115 dividend. 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 0.88%.
In other news, CEO Jen Hsun Huang sold 40,000 shares of the business’s stock in a transaction dated Friday, June 10th. The stock was sold at an average price of $46.49, for a total transaction 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 approximately $84,485,300.71. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director A Brooke Seawell sold 5,142 shares of the business’s stock in a transaction dated Thursday, June 16th. The stock was sold at an average price of $47.01, for a total value of $241,725.42. Following 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.
Several institutional investors recently bought and sold shares of the company. Commonwealth of Pennsylvania Public School Empls Retrmt SYS raised its position in Nvidia Corp. by 1.5% in the fourth quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 33,393 shares of the computer hardware maker’s stock valued at $1,101,000 after buying an additional 494 shares during the last quarter. Gulf International Bank UK Ltd raised its position in Nvidia Corp. by 0.5% in the fourth quarter. Gulf International Bank UK Ltd now owns 164,125 shares of the computer hardware maker’s stock valued at $5,410,000 after buying an additional 790 shares during the last quarter. US Bancorp DE raised its position in Nvidia Corp. by 2.5% in the fourth quarter. US Bancorp DE now owns 38,194 shares of the computer hardware maker’s stock valued at $1,260,000 after buying an additional 947 shares during the last quarter. TD Asset Management Inc. raised its position in Nvidia Corp. by 0.4% in the fourth quarter. TD Asset Management Inc. now owns 274,591 shares of the computer hardware maker’s stock valued at $9,051,000 after buying an additional 1,148 shares during the last quarter. Finally, Advantus Capital Management Inc raised its position in Nvidia Corp. by 3.6% in the fourth quarter. Advantus Capital Management Inc now owns 49,653 shares of the computer hardware maker’s stock valued at $1,637,000 after buying an additional 1,736 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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