NVIDIA Corporation (NASDAQ:NVDA) saw a significant decline in short interest in the month of October. As of October 31st, there was short interest totalling 12,799,594 shares, a decline of 12.8% from the October 13th total of 14,681,832 shares. Based on an average daily trading volume, of 12,749,682 shares, the days-to-cover ratio is currently 1.0 days. Currently, 2.2% of the company’s shares are short sold.
Several analysts recently weighed in on NVDA shares. Vetr cut shares of NVIDIA Corporation from a “buy” rating to a “hold” rating and set a $172.54 price target on the stock. in a report on Thursday, August 31st. Credit Suisse Group AG reiterated an “outperform” rating on shares of NVIDIA Corporation in a report on Thursday, August 31st. Goldman Sachs Group, Inc. (The) lifted their price target on shares of NVIDIA Corporation from $193.00 to $217.00 and gave the company a “buy” rating in a report on Wednesday, October 11th. B. Riley lifted their price target on shares of NVIDIA Corporation from $200.00 to $250.00 and gave the company a “buy” rating in a report on Monday, November 6th. Finally, Needham & Company LLC reiterated a “buy” rating and issued a $200.00 price target on shares of NVIDIA Corporation in a report on Thursday, September 28th. Four investment analysts have rated the stock with a sell rating, fourteen have assigned a hold rating, twenty-four have issued a buy rating and one has issued a strong buy rating to the company. NVIDIA Corporation has an average rating of “Buy” and a consensus target price of $185.93.
In related news, insider Michael Byron sold 409 shares of NVIDIA Corporation stock in a transaction on Friday, September 1st. The shares were sold at an average price of $171.01, for a total value of $69,943.09. Following the transaction, the insider now directly owns 136,199 shares of the company’s stock, valued at $23,291,390.99. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Jen Hsun Huang sold 110,000 shares of NVIDIA Corporation stock in a transaction on Wednesday, September 6th. The stock was sold at an average price of $166.08, for a total transaction of $18,268,800.00. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 451,503 shares of company stock worth $81,997,895. 5.17% of the stock is owned by insiders.
Several hedge funds and other institutional investors have recently bought and sold shares of the company. Cibc World Markets Corp raised its holdings in NVIDIA Corporation by 12.1% during the 2nd quarter. Cibc World Markets Corp now owns 128,316 shares of the computer hardware maker’s stock valued at $18,549,000 after buying an additional 13,802 shares during the period. Meiji Yasuda Life Insurance Co raised its holdings in NVIDIA Corporation by 9.9% during the 2nd quarter. Meiji Yasuda Life Insurance Co now owns 11,070 shares of the computer hardware maker’s stock valued at $1,600,000 after buying an additional 1,000 shares during the period. RB Capital Management LLC purchased a new stake in NVIDIA Corporation during the 2nd quarter valued at $272,000. Oppenheimer Asset Management Inc. raised its holdings in NVIDIA Corporation by 17.8% during the 2nd quarter. Oppenheimer Asset Management Inc. now owns 18,786 shares of the computer hardware maker’s stock valued at $2,715,000 after buying an additional 2,836 shares during the period. Finally, D. Scott Neal Inc. purchased a new stake in NVIDIA Corporation during the 2nd quarter valued at $258,000. Hedge funds and other institutional investors own 65.40% of the company’s stock.
NVIDIA Corporation (NVDA) opened at $214.18 on Wednesday. The company has a current ratio of 8.26, a quick ratio of 7.42 and a debt-to-equity ratio of 0.31. The company has a market capitalization of $128,110.00, a P/E ratio of 53.24, a PEG ratio of 5.34 and a beta of 1.23. NVIDIA Corporation has a 52-week low of $83.93 and a 52-week high of $218.67.
NVIDIA Corporation (NASDAQ:NVDA) last posted its earnings results on Thursday, November 9th. The computer hardware maker reported $1.33 EPS for the quarter, beating analysts’ consensus estimates of $0.94 by $0.39. The firm had revenue of $2.64 billion during the quarter, compared to the consensus estimate of $2.36 billion. NVIDIA Corporation had a return on equity of 42.71% and a net margin of 28.78%. The company’s quarterly revenue was up 31.5% compared to the same quarter last year. During the same period in the prior year, the company earned $0.94 EPS. sell-side analysts predict that NVIDIA Corporation will post 3.61 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Friday, December 15th. Stockholders of record on Friday, November 24th will be given a dividend of $0.15 per share. This is an increase from NVIDIA Corporation’s previous quarterly dividend of $0.14. This represents a $0.60 dividend on an annualized basis and a dividend yield of 0.28%. The ex-dividend date is Wednesday, November 22nd. NVIDIA Corporation’s dividend payout ratio is currently 14.00%.
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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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