NVIDIA Co. (NASDAQ:NVDA) was the recipient of a significant decrease in short interest during the month of June. As of June 30th, there was short interest totalling 9,840,300 shares, a decrease of 22.1% from the May 30th total of 12,625,800 shares. Based on an average trading volume of 11,190,000 shares, the days-to-cover ratio is presently 0.9 days. Approximately 1.8% of the shares of the stock are sold short.
A number of brokerages recently issued reports on NVDA. TheStreet upgraded shares of TELUS from a “c+” rating to a “b-” rating in a report on Thursday, April 4th. Barclays reiterated a “hold” rating and issued a $23.00 price objective on shares of Cypress Semiconductor in a report on Thursday, June 6th. Wedbush upgraded shares of Sunstone Hotel Investors from a “neutral” rating to an “outperform” rating in a report on Wednesday, June 26th. Zacks Investment Research lowered shares of G1 Therapeutics from a “buy” rating to a “hold” rating in a report on Thursday, May 16th. Finally, Tigress Financial reiterated a “buy” rating on shares of NVIDIA in a report on Wednesday, March 20th. Four equities research analysts have rated the stock with a sell rating, fourteen have issued a hold rating and twenty-six have assigned a buy rating to the company. NVIDIA has a consensus rating of “Buy” and an average target price of $194.34.
Shares of NVDA stock traded up $1.33 during trading hours on Friday, hitting $167.61. 12,085,642 shares of the company were exchanged, compared to its average volume of 13,781,140. The stock has a market capitalization of $97.48 billion, a price-to-earnings ratio of 27.61, a P/E/G ratio of 4.05 and a beta of 2.09. NVIDIA has a fifty-two week low of $124.46 and a fifty-two week high of $292.76. The company has a debt-to-equity ratio of 0.25, a quick ratio of 7.78 and a current ratio of 8.98. The company’s 50 day simple moving average is $151.30.
NVIDIA (NASDAQ:NVDA) last announced its quarterly earnings data on Thursday, May 16th. The computer hardware maker reported $0.88 EPS for the quarter, topping the consensus estimate of $0.81 by $0.07. The company had revenue of $2.22 billion during the quarter, compared to the consensus estimate of $2.20 billion. NVIDIA had a net margin of 30.68% and a return on equity of 31.27%. The company’s quarterly revenue was down 30.8% on a year-over-year basis. During the same quarter last year, the firm posted $2.05 EPS. On average, analysts anticipate that NVIDIA will post 4.22 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Friday, June 21st. Stockholders of record on Friday, May 31st were given a dividend of $0.16 per share. This represents a $0.64 annualized dividend and a dividend yield of 0.38%. The ex-dividend date was Thursday, May 30th. NVIDIA’s dividend payout ratio (DPR) is 10.54%.
In related news, Director Harvey C. Jones sold 100,000 shares of the firm’s stock in a transaction that occurred on Monday, June 17th. The shares were sold at an average price of $145.10, for a total value of $14,510,000.00. Following the completion of the transaction, the director now owns 32,983 shares in the company, valued at approximately $4,785,833.30. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CFO Colette Kress sold 2,236 shares of the firm’s stock in a transaction that occurred on Friday, June 28th. The shares were sold at an average price of $164.01, for a total transaction of $366,726.36. Following the completion of the transaction, the chief financial officer now owns 239,710 shares of the company’s stock, valued at approximately $39,314,837.10. The disclosure for this sale can be found here. 4.64% of the stock is currently owned by corporate insiders.
Several hedge funds have recently made changes to their positions in NVDA. Comerica Securities Inc. grew its position in shares of NVIDIA by 95.7% during the 4th quarter. Comerica Securities Inc. now owns 2,853 shares of the computer hardware maker’s stock worth $381,000 after buying an additional 1,395 shares during the period. Resources Investment Advisors Inc. acquired a new stake in NVIDIA in the 4th quarter valued at $42,000. Bessemer Group Inc. grew its position in NVIDIA by 9.1% in the 4th quarter. Bessemer Group Inc. now owns 7,000 shares of the computer hardware maker’s stock valued at $935,000 after purchasing an additional 585 shares during the period. Sound View Wealth Advisors LLC acquired a new stake in NVIDIA in the 4th quarter valued at $305,000. Finally, OmniStar Financial Group Inc. grew its position in NVIDIA by 3.5% in the 4th quarter. OmniStar Financial Group Inc. now owns 2,891 shares of the computer hardware maker’s stock valued at $386,000 after purchasing an additional 99 shares during the period. 67.51% of the stock is owned by institutional investors.
NVIDIA Company Profile
NVIDIA Corp. engages in the design and manufacture of computer graphics processors, chipsets, and related multimedia software. It operates through the Graphics Processing Unit (GPU) and Tegra Processor segments. The GPU segment comprises of product brands which aims 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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