Nvidia Corp. (NASDAQ:NVDA) saw a significant growth in short interest in September. As of September 30th, there was short interest totalling 64,355,782 shares, a growth of 11.7% from the September 15th total of 57,601,051 shares. Currently, 12.7% of the company’s stock are sold short. Based on an average daily trading volume, of 9,754,162 shares, the short-interest ratio is presently 6.6 days.
In related news, CFO Colette Kress sold 38,039 shares of the business’s stock in a transaction that occurred on Monday, August 29th. The shares were sold at an average price of $62.18, for a total value of $2,365,265.02. Following the completion of the transaction, the chief financial officer now owns 512,374 shares of the company’s stock, valued at $31,859,415.32. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Tench Coxe sold 85,551 shares of the business’s stock in a transaction that occurred on Friday, September 30th. The stock was sold at an average price of $68.75, for a total transaction of $5,881,631.25. The disclosure for this sale can be found here. 5.82% of the stock is currently owned by corporate insiders.
Large investors have recently made changes to their positions in the company. Trinity Street Asset Management LLP increased its stake in shares of Nvidia Corp. by 154.6% in the second quarter. Trinity Street Asset Management LLP now owns 563,363 shares of the computer hardware maker’s stock valued at $26,483,000 after buying an additional 342,092 shares during the last quarter. Natixis increased its stake in shares of Nvidia Corp. by 91.1% in the first quarter. Natixis now owns 1,754,727 shares of the computer hardware maker’s stock valued at $62,521,000 after buying an additional 836,276 shares during the last quarter. Legal & General Group Plc increased its stake in shares of Nvidia Corp. by 5.1% in the first quarter. Legal & General Group Plc now owns 2,243,547 shares of the computer hardware maker’s stock valued at $79,938,000 after buying an additional 107,884 shares during the last quarter. Clark Capital Management Group Inc. bought a new stake in shares of Nvidia Corp. during the first quarter valued at about $7,723,000. Finally, Nordea Investment Management AB increased its stake in shares of Nvidia Corp. by 114.1% in the second quarter. Nordea Investment Management AB now owns 33,823 shares of the computer hardware maker’s stock valued at $1,590,000 after buying an additional 18,023 shares during the last quarter. Institutional investors and hedge funds own 86.37% of the company’s stock.
Shares of Nvidia Corp. (NASDAQ:NVDA) opened at 65.99 on Friday. The firm has a market capitalization of $35.30 billion, a price-to-earnings ratio of 43.36 and a beta of 1.25. Nvidia Corp. has a 12-month low of $24.75 and a 12-month high of $69.70. The firm’s 50-day moving average is $64.34 and its 200-day moving average is $51.04.
Nvidia Corp. (NASDAQ:NVDA) last announced its quarterly earnings results on Thursday, August 11th. The computer hardware maker reported $0.53 EPS for the quarter, beating the consensus estimate of $0.37 by $0.16. The company had revenue of $1.43 billion for the quarter, compared to the consensus estimate of $1.35 billion. Nvidia Corp. had a return on equity of 20.86% and a net margin of 16.58%. The company’s revenue for the quarter was up 23.9% compared to the same quarter last year. During the same quarter last year, the company posted $0.34 earnings per share. Equities research analysts forecast that Nvidia Corp. will post $1.85 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Friday, September 16th. Stockholders of record on Thursday, August 25th were paid a $0.115 dividend. The ex-dividend date was Tuesday, August 23rd. This represents a $0.46 annualized dividend and a dividend yield of 0.70%. Nvidia Corp.’s payout ratio is 30.26%.
NVDA has been the topic of several analyst reports. Wells Fargo & Co. lowered shares of Nvidia Corp. from a “market perform” rating to an “underperform” rating and lifted their price target for the stock from $19.09 to $46.70 in a report on Friday, July 15th. Vetr lowered shares of Nvidia Corp. from a “hold” rating to a “sell” rating and set a $48.46 price target on the stock. in a report on Monday, July 11th. Pacific Crest reaffirmed a “hold” rating on shares of Nvidia Corp. in a report on Friday, August 5th. Canaccord Genuity reaffirmed a “buy” rating and issued a $70.00 price target on shares of Nvidia Corp. in a report on Monday, August 29th. Finally, Summit Redstone initiated coverage on shares of Nvidia Corp. in a report on Wednesday, August 31st. They issued a “buy” rating and a $68.00 price target on the stock. Two equities research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and twenty have given a buy rating to the stock. Nvidia Corp. has an average rating of “Buy” and a consensus target price of $58.59.
About Nvidia Corp.
NVIDIA Corporation (NVIDIA) is engaged in visual computing. The Company operates through segments, including GPU and Tegra Processor. Its GPU businesses include GeForce for personal computer (PC) gaming; Quadro for design professionals working in computer-aided design, video editing, special effects and other creative applications; Tesla for deep learning and accelerated computing, leveraging the parallel computing capabilities of graphics processing units (GPUs) for general purpose computing, and GRID to provide the power of NVIDIA graphics through the cloud and datacenters.
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