Gunderson Capital Management LLC Buys New Shares in NVIDIA Corporation $NVDA

Gunderson Capital Management LLC purchased a new position in NVIDIA Corporation (NASDAQ:NVDA) during the third quarter, HoldingsChannel.com reports. The fund purchased 83,895 shares of the computer hardware maker’s stock, valued at approximately $19,160,000. NVIDIA accounts for approximately 5.2% of Gunderson Capital Management LLC’s investment portfolio, making the stock its 2nd biggest position.

A number of other hedge funds have also recently made changes to their positions in the stock. Jupiter Topco LLC bought a new stake in NVIDIA in the second quarter worth $16,156,076,000. Van ECK Associates Corp grew its stake in shares of NVIDIA by 34.7% in the second quarter. Van ECK Associates Corp now owns 75,849,721 shares of the computer hardware maker’s stock worth $15,176,771,000 after acquiring an additional 19,522,304 shares during the last quarter. State Street Corp increased its holdings in shares of NVIDIA by 1.6% during the second quarter. State Street Corp now owns 1,009,783,437 shares of the computer hardware maker’s stock valued at $202,047,568,000 after acquiring an additional 15,897,836 shares in the last quarter. Amundi raised its position in shares of NVIDIA by 10.4% in the 1st quarter. Amundi now owns 133,768,018 shares of the computer hardware maker’s stock worth $23,329,141,000 after purchasing an additional 12,575,177 shares during the last quarter. Finally, Nykredit A S bought a new position in NVIDIA in the 2nd quarter worth about $2,315,956,000. 65.27% of the stock is owned by institutional investors.

NVIDIA Stock Performance

Shares of NASDAQ:NVDA opened at $186.64 on Monday. The company has a debt-to-equity ratio of 0.14, a current ratio of 4.59 and a quick ratio of 3.85. NVIDIA Corporation has a 1 year low of $164.27 and a 1 year high of $243.37. The company has a market cap of $4.50 trillion, a P/E ratio of 23.60, a PEG ratio of 1.43 and a beta of 2.21. The stock’s fifty day moving average price is $219.80 and its 200-day moving average price is $204.53.

NVIDIA (NASDAQ:NVDA) last released its quarterly earnings data on Wednesday, August 26th. The computer hardware maker reported $2.22 EPS for the quarter, topping the consensus estimate of $2.09 by $0.13. NVIDIA had a return on equity of 96.04% and a net margin of 63.66%. The company had revenue of $96.22 billion during the quarter, compared to the consensus estimate of $92.27 billion. During the same period last year, the company earned $1.05 EPS. NVIDIA’s revenue for the quarter was up 105.9% on a year-over-year basis. Sell-side analysts expect that NVIDIA Corporation will post 9.30 earnings per share for the current year.

NVIDIA declared that its board has initiated a share buyback program on Monday, September 28th that permits the company to buy back $150 billion in shares. This repurchase authorization permits the computer hardware maker to buy up to 2.8% of its stock through open market purchases. Stock repurchase programs are usually an indication that the company’s management believes its stock is undervalued.

NVIDIA Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, October 1st. Stockholders of record on Thursday, September 10th were paid a $0.25 dividend. The ex-dividend date was Thursday, September 10th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.5%. NVIDIA’s payout ratio is currently 12.64%.

Insider Transactions at NVIDIA

In other news, Director Mark Stevens sold 622,239 shares of the business’s stock in a transaction that occurred on Friday, September 4th. The shares were sold at an average price of $231.62, for a total transaction of $144,122,997.18. Following the completion of the transaction, the director directly owned 2,336,531 shares of the company’s stock, valued at $541,187,310.22. The trade was a 21.03% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Timothy Teter sold 30,460 shares of the stock in a transaction that occurred on Monday, September 21st. The shares were sold at an average price of $222.80, for a total transaction of $6,786,488.00. Following the transaction, the executive vice president owned 2,687,660 shares in the company, valued at approximately $598,810,648. This trade represents a 1.12% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 1,766,118 shares of company stock worth $399,450,353 over the last three months. 3.94% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

NVDA has been the topic of several recent analyst reports. Citigroup reissued a “buy” rating and set a $315.00 price objective (up from $300.00) on shares of NVIDIA in a research report on Thursday, August 27th. Rosenblatt Securities reaffirmed a “buy” rating and issued a $390.00 target price on shares of NVIDIA in a report on Tuesday, September 29th. Zacks Research upgraded shares of NVIDIA from a “hold” rating to a “strong-buy” rating in a research note on Monday, September 21st. BNP Paribas Exane reiterated an “outperform” rating and issued a $345.00 target price on shares of NVIDIA in a research note on Monday, October 5th. Finally, Sanford C. Bernstein reiterated a “buy” rating on shares of NVIDIA in a report on Monday, September 21st. Five equities research analysts have rated the stock with a Strong Buy rating, forty-eight have given a Buy rating and one has issued a Hold rating to the stock. Based on data from MarketBeat.com, NVIDIA has an average rating of “Buy” and a consensus price target of $318.85.

Key Stories Impacting NVIDIA

Here are the key news stories impacting NVIDIA this week:

• Positive Sentiment: Some investors see the decline as a buying opportunity, citing NVIDIA’s strong AI-chip position and profitability. ARK Invest also reportedly added $45.9 million of NVDA shares during the sell-off. Nvidia Stock Rises on Dip-Buying: 3 Reasons to Be Optimistic
• Positive Sentiment: CEO Jensen Huang says the next-generation Vera Rubin platform could generate more revenue per gigawatt of data-center capacity than the current platform, supporting the case for continued growth. Jensen Huang Says Nvidia’s Next-Gen Vera Rubin Chips Will Generate $40 Billion in Revenue per Gigawatt
• Neutral Sentiment: NVIDIA’s upcoming Nov. 17 results are a key near-term catalyst: investors will look for evidence that demand and guidance can ease fears about AI spending and justify the stock’s recovery. Nvidia Investors Need to Be Paying Attention on Nov. 17
• Negative Sentiment: The rebound follows a steep sell-off that wiped roughly $450 billion from NVIDIA’s market value. Investors are worried that a Democratic-led Congress, data-center permitting or regulatory hurdles, high capital costs, and uncertain returns could delay infrastructure projects and weaken future chip demand. AI stocks hammered by midterm shock as data center buildout becomes a ‘war of attrition’
• Negative Sentiment: Reports that NVIDIA may be taking on greater exposure to financially strained “neocloud” customers raise concern that it could face risks beyond selling chips if those providers struggle to fund data centers. As neoclouds face a financial reckoning, Nvidia has to decide how far to go to help

About NVIDIA

NVIDIA Corporation develops graphics processing units (GPUs), accelerated computing platforms and related software. Founded in 1993, the company first became widely known for GPUs used in PC gaming and professional graphics. Its technology now also supports artificial intelligence, scientific computing and other data-intensive applications.

NVIDIA’s offerings include GeForce products for gaming, data-center GPUs and systems for AI workloads, and networking products that connect computing infrastructure.