NVIDIA Corporation (NASDAQ:NVDA) was the recipient of a large drop in short interest during the month of September. As of September 29th, there was short interest totalling 14,755,916 shares, a drop of 17.5% from the September 15th total of 17,880,570 shares. Based on an average daily trading volume, of 21,567,790 shares, the days-to-cover ratio is presently 0.7 days. Currently, 2.6% of the company’s shares are sold short.
Shares of NVIDIA Corporation (NASDAQ:NVDA) opened at 191.03 on Friday. The company has a 50 day moving average price of $175.31 and a 200-day moving average price of $147.71. The stock has a market capitalization of $114.62 billion, a P/E ratio of 54.94 and a beta of 1.28. NVIDIA Corporation has a 52-week low of $65.52 and a 52-week high of $193.09.
NVIDIA Corporation (NASDAQ:NVDA) last posted its quarterly earnings data on Thursday, August 10th. The computer hardware maker reported $1.01 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.69 by $0.32. NVIDIA Corporation had a return on equity of 39.59% and a net margin of 27.41%. The company had revenue of $2.23 billion for the quarter, compared to analysts’ expectations of $1.96 billion. During the same period in the previous year, the firm posted $0.53 EPS. NVIDIA Corporation’s revenue was up 56.2% compared to the same quarter last year. On average, analysts predict that NVIDIA Corporation will post $3.64 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Monday, September 18th. Investors of record on Thursday, August 24th were issued a $0.14 dividend. This represents a $0.56 annualized dividend and a yield of 0.29%. The ex-dividend date of this dividend was Tuesday, August 22nd. NVIDIA Corporation’s payout ratio is 15.86%.
A number of brokerages have recently weighed in on NVDA. Bank of America Corporation set a $210.00 price objective on NVIDIA Corporation and gave the stock a “buy” rating in a research report on Thursday. Royal Bank Of Canada lifted their price objective on NVIDIA Corporation from $205.00 to $220.00 and gave the stock an “outperform” rating in a research report on Thursday. B. Riley restated a “buy” rating and issued a $200.00 target price on shares of NVIDIA Corporation in a research note on Tuesday. Goldman Sachs Group, Inc. (The) raised their target price on NVIDIA Corporation from $193.00 to $217.00 and gave the company a “buy” rating in a research note on Wednesday. Finally, Vetr upgraded NVIDIA Corporation from a “hold” rating to a “buy” rating and set a $196.86 target price for the company in a research note on Tuesday. Six research analysts have rated the stock with a sell rating, eleven have assigned a hold rating, twenty-four have assigned a buy rating and one has given a strong buy rating to the stock. The stock currently has an average rating of “Hold” and an average price target of $157.88.
In other news, insider Jen Hsun Huang sold 110,000 shares of NVIDIA Corporation stock in a transaction that occurred on Wednesday, September 6th. The stock was sold at an average price of $166.08, for a total value of $18,268,800.00. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, insider Michael Byron sold 409 shares of NVIDIA Corporation stock in a transaction that occurred on Friday, September 1st. The stock was sold at an average price of $171.01, for a total value of $69,943.09. Following the completion of the sale, the insider now owns 136,199 shares in the company, valued at $23,291,390.99. The disclosure for this sale can be found here. Over the last quarter, insiders sold 452,784 shares of company stock worth $81,437,724. Corporate insiders own 5.82% of the company’s stock.
A number of hedge funds have recently bought and sold shares of NVDA. Evercore Wealth Management LLC lifted its stake in NVIDIA Corporation by 36.9% in the 2nd quarter. Evercore Wealth Management LLC now owns 765 shares of the computer hardware maker’s stock worth $110,000 after purchasing an additional 206 shares in the last quarter. TB Alternative Assets Ltd. purchased a new position in NVIDIA Corporation in the 2nd quarter worth approximately $116,000. Proficio Capital Partners LLC lifted its stake in NVIDIA Corporation by 186.1% in the 1st quarter. Proficio Capital Partners LLC now owns 841 shares of the computer hardware maker’s stock worth $117,000 after purchasing an additional 547 shares in the last quarter. Thompson Davis & CO. Inc. lifted its stake in NVIDIA Corporation by 0.7% in the 2nd quarter. Thompson Davis & CO. Inc. now owns 822 shares of the computer hardware maker’s stock worth $119,000 after purchasing an additional 6 shares in the last quarter. Finally, Hanson McClain Inc. lifted its stake in NVIDIA Corporation by 12.7% in the 2nd quarter. Hanson McClain Inc. now owns 881 shares of the computer hardware maker’s stock worth $127,000 after purchasing an additional 99 shares in the last quarter. Institutional investors own 65.79% of the company’s stock.
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NVIDIA Corporation Company Profile
Nvidia Corporation focuses on personal computer (PC) graphics, graphics processing unit (GPU) and also on artificial intelligence (AI). The Company’s operates through two segments: GPU and Tegra Processor. The Company’s GPU product brands are aimed at specialized markets, including GeForce for gamers; Quadro for designers; Tesla and DGX for AI data scientists and big data researchers; and GRID for cloud-based visual computing users.
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