NVIDIA (NVDA) Stock Price Up 5.2%

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NVIDIA Co. (NASDAQ:NVDA) rose 5.2% on Tuesday . The stock traded as high as $204.21 and last traded at $199.31. Approximately 15,429,335 shares were traded during mid-day trading, an increase of 20% from the average daily volume of 12,877,848 shares. The stock had previously closed at $189.54.

NVDA has been the subject of several recent research reports. Goldman Sachs Group lifted their price objective on NVIDIA from $310.00 to $324.00 and gave the stock a “buy” rating in a report on Tuesday, August 7th. BidaskClub raised NVIDIA from a “buy” rating to a “strong-buy” rating in a report on Friday, August 10th. Wells Fargo & Co raised NVIDIA from an “underperform” rating to an “outperform” rating and lifted their target price for the company from $140.00 to $315.00 in a report on Tuesday, August 14th. UBS Group raised NVIDIA from a “market perform” rating to an “outperform” rating in a report on Friday, August 17th. Finally, Stifel Nicolaus reaffirmed a “hold” rating and set a $250.00 target price (up previously from $243.00) on shares of NVIDIA in a report on Friday, August 17th. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating, twenty-five have assigned a buy rating and one has given a strong buy rating to the company. The company currently has an average rating of “Buy” and an average target price of $287.16.

The stock has a market cap of $125.05 billion, a PE ratio of 42.68, a PEG ratio of 2.70 and a beta of 2.01. The company has a quick ratio of 6.66, a current ratio of 7.41 and a debt-to-equity ratio of 0.23.

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

In related news, insider Michael Byron sold 11,257 shares of the business’s 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 sale, the insider now owns 81,414 shares in the company, valued at approximately $21,488,411.16. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Ajay K. Puri sold 90,831 shares of the business’s stock in a transaction that occurred on Tuesday, October 2nd. The stock was sold at an average price of $289.35, for a total value of $26,281,949.85. Following the completion of the sale, the executive vice president now owns 184,001 shares of the company’s stock, valued at approximately $53,240,689.35. The disclosure for this sale can be found here. In the last quarter, insiders have sold 113,707 shares of company stock valued at $32,347,973. Corporate insiders own 4.70% of the company’s stock.

Hedge funds have recently made changes to their positions in the business. Principal Financial Group Inc. grew its stake in NVIDIA by 5.6% in 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 purchasing an additional 53,672 shares during the period. Fisher Asset Management LLC grew its stake in NVIDIA by 33.4% in the second quarter. Fisher Asset Management LLC now owns 2,261 shares of the computer hardware maker’s stock worth $536,000 after purchasing an additional 566 shares during the period. Confluence Investment Management LLC purchased a new stake in NVIDIA in the second quarter worth $223,000. FormulaFolio Investments LLC purchased a new stake in NVIDIA in the second quarter worth $654,000. Finally, Rathbone Brothers plc grew its stake in NVIDIA by 9.6% in the second quarter. Rathbone Brothers plc now owns 8,148 shares of the computer hardware maker’s stock worth $1,930,000 after purchasing an additional 715 shares during the period. Hedge funds and other institutional investors own 65.85% of the company’s stock.

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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.

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