Short Interest in Nvidia Corp. (NVDA) Rises By 11.7%
Nvidia Corp. (NASDAQ:NVDA) was the recipient of a significant growth in short interest in the month of 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. Approximately 12.7% of the shares of the company are short sold. Based on an average trading volume of 9,754,162 shares, the days-to-cover ratio is presently 6.6 days.
In other news, Director Tench Coxe sold 85,551 shares of the stock in a transaction on Friday, September 30th. The shares were sold at an average price of $68.75, for a total value of $5,881,631.25. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Jen Hsun Huang sold 43,727 shares of the stock in a transaction on Tuesday, September 6th. The stock was sold at an average price of $62.81, for a total transaction of $2,746,492.87. Following the completion of the sale, the insider now owns 1,827,279 shares in the company, valued at approximately $114,771,393.99. The disclosure for this sale can be found here. 5.82% of the stock is currently owned by insiders.
Hedge funds and other institutional investors have recently bought and sold shares of the stock. West Oak Capital LLC increased its position in Nvidia Corp. by 183.6% in the third quarter. West Oak Capital LLC now owns 1,560 shares of the computer hardware maker’s stock worth $107,000 after buying an additional 1,010 shares in the last quarter. Brick & Kyle Associates increased its stake in Nvidia Corp. by 25.1% in the second quarter. Brick & Kyle Associates now owns 2,502 shares of the computer hardware maker’s stock worth $118,000 after buying an additional 502 shares during the period. Compagnie Lombard Odier SCmA increased its stake in Nvidia Corp. by 72.6% in the second quarter. Compagnie Lombard Odier SCmA now owns 3,365 shares of the computer hardware maker’s stock worth $159,000 after buying an additional 1,415 shares during the period. CenturyLink Investment Management Co acquired a new stake in Nvidia Corp. during the third quarter worth about $183,000. Finally, Aviance Capital Management LLC acquired a new stake in Nvidia Corp. during the second quarter worth about $200,000. 86.37% of the stock is owned by institutional investors.
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NVDA has been the topic of a number of recent analyst reports. Zacks Investment Research raised shares of Nvidia Corp. from a “hold” rating to a “buy” rating and set a $51.00 price target on the stock in a report on Tuesday, June 28th. Vetr raised shares of Nvidia Corp. from a “hold” rating to a “buy” rating and set a $47.09 price target on the stock in a report on Monday, June 27th. B. Riley reissued a “buy” rating and set a $58.00 price target on shares of Nvidia Corp. in a report on Wednesday, June 22nd. Canaccord Genuity reissued a “buy” rating and set a $55.00 price target (up from $45.00) on shares of Nvidia Corp. in a report on Thursday, June 16th. Finally, Mizuho initiated coverage on shares of Nvidia Corp. in a report on Thursday, July 14th. They set a “buy” rating and a $60.00 price target on the stock. Two investment analysts have rated the stock with a sell rating, thirteen have issued a hold rating and twenty have issued a buy rating to the company. The stock has a consensus rating of “Buy” and an average price target of $58.59.
Shares of Nvidia Corp. (NASDAQ:NVDA) opened at 66.43 on Thursday. The stock’s 50 day moving average is $64.12 and its 200 day moving average is $50.72. The stock has a market cap of $35.54 billion, a P/E ratio of 43.65 and a beta of 1.25. Nvidia Corp. has a 12 month low of $24.75 and a 12 month high of $69.70.
Nvidia Corp. (NASDAQ:NVDA) last posted its quarterly earnings data on Thursday, August 11th. The computer hardware maker reported $0.53 EPS for the quarter, beating the Zacks’ consensus estimate of $0.37 by $0.16. Nvidia Corp. had a net margin of 16.58% and a return on equity of 20.86%. The company earned $1.43 billion during the quarter, compared to the consensus estimate of $1.35 billion. During the same quarter in the prior year, the company posted $0.34 EPS. The company’s quarterly revenue was up 23.9% compared to the same quarter last year. Analysts predict that Nvidia Corp. will post $1.85 earnings per share 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 dividend of $0.115 per share. This represents a $0.46 dividend on an annualized basis and a dividend yield of 0.69%. The ex-dividend date of this dividend was Tuesday, August 23rd. Nvidia Corp.’s dividend payout ratio is currently 30.26%.
Nvidia Corp. Company Profile
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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