Nvidia Corp. (NVDA) Sets New 52-Week High at $53.80
Nvidia Corp. (NASDAQ:NVDA) hit a new 52-week high during mid-day trading on Thursday . The company traded as high as $53.80 and last traded at $53.56, with a volume of 4,774,263 shares changing hands. The stock had previously closed at $52.78.
A number of equities research analysts have recently issued reports on NVDA shares. Bank of America Corp. reaffirmed a “buy” rating on shares of Nvidia Corp. in a research note on Monday, March 21st. Vetr cut shares of Nvidia Corp. from a “buy” rating to a “sell” rating and set a $38.94 price objective for the company. in a research note on Monday, May 16th. Jefferies Group upped their price objective on shares of Nvidia Corp. from $40.00 to $42.00 and gave the company a “buy” rating in a research note on Monday, April 4th. Royal Bank Of Canada upped their price objective on shares of Nvidia Corp. from $32.00 to $36.00 and gave the company a “sector perform” rating in a research note on Friday, April 1st. Finally, Goldman Sachs Group Inc. started coverage on shares of Nvidia Corp. in a report on Thursday, June 2nd. They set a “buy” rating and a $54.00 price target for the company. Three research analysts have rated the stock with a sell rating, twelve have given a hold rating and seventeen have issued a buy rating to the company’s stock. Nvidia Corp. currently has a consensus rating of “Hold” and a consensus price target of $41.92.
The company has a 50 day moving average price of $47.85 and a 200-day moving average price of $37.00. The stock has a market cap of $28.14 billion and a P/E ratio of 44.97.
Nvidia Corp. (NASDAQ:NVDA) last announced its earnings results 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 the consensus estimate of $1.26 billion. During the same quarter in the prior year, the firm posted $0.33 earnings per share. The business’s revenue for the quarter was up 13.5% compared to the same quarter last year. On average, equities analysts forecast that Nvidia Corp. will post $1.57 earnings per share for the current year.
The company also recently announced a quarterly dividend, which was paid on Monday, June 20th. Shareholders of record on Thursday, May 26th were issued a $0.115 dividend. The ex-dividend date was Tuesday, May 24th. This represents a $0.46 dividend on an annualized basis and a yield of 0.87%.
In other Nvidia Corp. news, CEO Jen Hsun Huang sold 40,000 shares of the business’s stock in a transaction dated Wednesday, May 11th. The shares were sold at an average price of $36.08, for a total value of $1,443,200.00. Following the completion of the transaction, the chief executive officer now directly owns 1,817,279 shares in the company, valued at $65,567,426.32. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Mark L. Perry sold 35,000 shares of the business’s stock in a transaction dated Wednesday, July 13th. The stock was sold at an average price of $52.93, for a total value of $1,852,550.00. Following the sale, the director now owns 97,292 shares in the company, valued at approximately $5,149,665.56. The disclosure for this sale can be found here.
Several large investors have modified their holdings of the company. Teacher Retirement System of Texas raised its stake in shares of 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. Russell Frank Co raised its stake in shares of Nvidia Corp. by 33.8% in the fourth quarter. Russell Frank Co now owns 274,765 shares of the computer hardware maker’s stock worth $9,175,000 after buying an additional 69,352 shares during the last quarter. Suntrust Banks Inc. raised its stake in shares of Nvidia Corp. by 67.2% in the fourth quarter. Suntrust Banks Inc. now owns 76,155 shares of the computer hardware maker’s stock worth $2,508,000 after buying an additional 30,615 shares during the last quarter. BP PLC raised its stake in shares of Nvidia Corp. by 100.0% in the fourth quarter. BP PLC now owns 140,000 shares of the computer hardware maker’s stock worth $4,614,000 after buying an additional 70,000 shares during the last quarter. Finally, Cowen Group Inc. raised its stake in shares of Nvidia Corp. by 10.0% in the fourth quarter. Cowen Group Inc. now owns 33,525 shares of the computer hardware maker’s stock worth $1,105,000 after buying an additional 3,050 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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