Traders Buy NVIDIA Corporation (NVDA) on Weakness

Traders purchased shares of NVIDIA Corporation (NASDAQ:NVDA) on weakness during trading on Tuesday. $730.39 million flowed into the stock on the tick-up and $663.55 million flowed out of the stock on the tick-down, for a money net flow of $66.84 million into the stock. Of all stocks tracked, NVIDIA Corporation had the 4th highest net in-flow for the day. NVIDIA Corporation traded down ($0.18) for the day and closed at $197.75

Several research analysts recently issued reports on the company. Susquehanna Bancshares Inc restated a “neutral” rating on shares of NVIDIA Corporation in a research report on Monday, July 3rd. B. Riley reiterated a “buy” rating and issued a $200.00 price target (up from $135.00) on shares of NVIDIA Corporation in a report on Monday, August 7th. BidaskClub downgraded NVIDIA Corporation from a “strong-buy” rating to a “buy” rating in a report on Wednesday, June 28th. Stifel Nicolaus reiterated a “hold” rating and issued a $110.00 price target on shares of NVIDIA Corporation in a report on Friday, August 11th. Finally, MKM Partners reiterated a “neutral” rating and issued a $120.00 price target (up from $106.00) on shares of NVIDIA Corporation in a report on Monday, August 14th. Six investment analysts have rated the stock with a sell rating, eleven have issued a hold rating, twenty-four have issued a buy rating and one has given a strong buy rating to the stock. The company presently has an average rating of “Hold” and an average price target of $160.31.

The firm has a market cap of $118.65 billion, a PE ratio of 56.87 and a beta of 1.28. The firm has a 50 day moving average of $176.52 and a 200-day moving average of $148.92.

NVIDIA Corporation (NASDAQ:NVDA) last posted its quarterly earnings results on Thursday, August 10th. The computer hardware maker reported $1.01 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.69 by $0.32. The company had revenue of $2.23 billion for the quarter, compared to analyst estimates of $1.96 billion. NVIDIA Corporation had a net margin of 27.41% and a return on equity of 39.59%. The business’s quarterly revenue was up 56.2% on a year-over-year basis. During the same period last year, the business posted $0.53 EPS. Equities research analysts expect that NVIDIA Corporation will post $3.63 EPS for the current year.

The firm also recently disclosed a quarterly dividend, which was paid on Monday, September 18th. Stockholders of record on Thursday, August 24th were issued a dividend of $0.14 per share. This represents a $0.56 dividend on an annualized basis and a dividend yield of 0.28%. The ex-dividend date was Tuesday, August 22nd. NVIDIA Corporation’s payout ratio is 15.86%.

In other news, insider Michael Byron sold 409 shares of the firm’s stock in a transaction dated Friday, September 1st. The shares were sold at an average price of $171.01, for a total transaction of $69,943.09. Following the completion of the transaction, the insider now directly owns 136,199 shares of the company’s stock, valued at approximately $23,291,390.99. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Colette Kress sold 22,808 shares of the firm’s stock in a transaction dated Monday, October 9th. The stock was sold at an average price of $185.31, for a total transaction of $4,226,550.48. The disclosure for this sale can be found here. Insiders have sold a total of 452,784 shares of company stock valued at $81,437,724 over the last ninety days. 5.17% of the stock is owned by insiders.

Several large investors have recently added to or reduced their stakes in NVDA. Westpac Banking Corp lifted its holdings in shares of NVIDIA Corporation by 115.1% during the 1st quarter. Westpac Banking Corp now owns 206,606 shares of the computer hardware maker’s stock worth $7,539,000 after acquiring an additional 110,562 shares during the period. Gilder Gagnon Howe & Co. LLC lifted its holdings in shares of NVIDIA Corporation by 124.4% during the 1st quarter. Gilder Gagnon Howe & Co. LLC now owns 67,284 shares of the computer hardware maker’s stock worth $7,329,000 after acquiring an additional 37,305 shares during the period. Cadence Capital Management LLC lifted its holdings in shares of NVIDIA Corporation by 64.3% during the 1st quarter. Cadence Capital Management LLC now owns 30,842 shares of the computer hardware maker’s stock worth $3,360,000 after acquiring an additional 12,072 shares during the period. Spark Investment Management LLC bought a new position in shares of NVIDIA Corporation during the 1st quarter worth about $6,448,000. Finally, Roundview Capital LLC lifted its holdings in shares of NVIDIA Corporation by 69.1% during the 1st quarter. Roundview Capital LLC now owns 3,255 shares of the computer hardware maker’s stock worth $355,000 after acquiring an additional 1,330 shares during the period. 65.79% of the stock is owned by institutional investors.

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About NVIDIA Corporation

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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