NVIDIA (NVDA) Trading Up 9.4%

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Shares of NVIDIA Co. (NASDAQ:NVDA) were up 9.4% during mid-day trading on Tuesday . The company traded as high as $203.40 and last traded at $203.00. Approximately 19,397,385 shares were traded during trading, an increase of 51% from the average daily volume of 12,882,442 shares. The stock had previously closed at $185.62.

A number of analysts have recently issued reports on NVDA shares. Argus reaffirmed a “buy” rating and set a $300.00 target price on shares of NVIDIA in a research report on Friday, October 12th. Goldman Sachs Group raised NVIDIA from a “buy” rating to a “conviction-buy” rating and dropped their target price for the stock from $324.00 to $305.00 in a research report on Thursday, October 18th. Evercore ISI lifted their target price on NVIDIA from $300.00 to $400.00 and gave the stock an “outperform” rating in a research report on Friday, September 28th. BidaskClub lowered NVIDIA from a “buy” rating to a “hold” rating in a research report on Wednesday, October 24th. Finally, Tigress Financial reissued a “buy” rating on shares of NVIDIA in a report on Friday, October 5th. Eleven investment analysts have rated the stock with a hold rating, twenty-six have assigned a buy rating and one has given a strong buy rating to the company’s stock. NVIDIA presently has a consensus rating of “Buy” and a consensus price target of $290.21.

The company has a debt-to-equity ratio of 0.23, a current ratio of 7.41 and a quick ratio of 6.66. The company has a market cap of $120.56 billion, a P/E ratio of 43.47, a P/E/G ratio of 2.60 and a beta of 1.64.

NVIDIA (NASDAQ:NVDA) last issued its earnings results on Thursday, August 16th. The computer hardware maker reported $1.94 EPS for the quarter, beating the Zacks’ consensus estimate of $1.66 by $0.28. NVIDIA had a return on equity of 54.18% and a net margin of 36.21%. The company had revenue of $3.12 billion during the quarter, compared to the consensus estimate of $3.11 billion. During the same period in the previous year, the firm posted $1.01 earnings per share. NVIDIA’s quarterly revenue was up 40.0% compared to the same quarter last year. On average, research analysts forecast that NVIDIA Co. will post 7.15 EPS for the current fiscal year.

In other NVIDIA news, insider Michael Byron sold 11,257 shares of NVIDIA stock in a transaction that occurred on Monday, September 24th. The stock was sold at an average price of $263.94, for a total value of $2,971,172.58. Following the completion of the transaction, the insider now directly owns 81,414 shares in the company, valued at $21,488,411.16. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, EVP Ajay K. Puri sold 90,831 shares of NVIDIA stock in a transaction that occurred on Tuesday, October 2nd. The shares were sold at an average price of $289.35, for a total value of $26,281,949.85. Following the completion of the transaction, the executive vice president now owns 184,001 shares of the company’s stock, valued at $53,240,689.35. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 113,707 shares of company stock valued at $32,347,973. 4.70% of the stock is currently owned by insiders.

A number of hedge funds have recently modified their holdings of NVDA. Principal Financial Group Inc. boosted its position in shares of NVIDIA by 5.6% during the first quarter. Principal Financial Group Inc. now owns 1,003,742 shares of the computer hardware maker’s stock worth $232,456,000 after buying an additional 53,672 shares during the period. Brown Advisory Inc. boosted its position in shares of NVIDIA by 152.5% during the first quarter. Brown Advisory Inc. now owns 7,473 shares of the computer hardware maker’s stock worth $1,730,000 after buying an additional 4,513 shares during the period. Cito Capital Group LLC acquired a new position in shares of NVIDIA during the second quarter worth approximately $711,000. New England Research & Management Inc. acquired a new position in shares of NVIDIA during the second quarter worth approximately $200,000. Finally, CenturyLink Investment Management Co acquired a new position in shares of NVIDIA during the second quarter worth approximately $693,000. Institutional investors own 65.80% of the company’s stock.

About NVIDIA (NASDAQ:NVDA)

NVIDIA Corporation operates as a visual computing company worldwide. It operates through two segments, GPU and Tegra Processor. The GPU segment offers processors, which include GeForce for PC gaming and mainstream PCs; GeForce NOW for cloud-based game-streaming service; Quadro for design professionals working in computer-aided design, video editing, special effects, and other creative applications; Tesla for AI utilizing deep learning, accelerated computing, and general purpose computing; GRID provides power of NVIDIA graphics through the cloud and datacenters; DGX for AI scientists, researchers, and developers; and cryptocurrency-specific graphics processing units.

Further Reading: Price to Earnings Ratio (PE) Basics

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