Nvidia Corp. (NVDA) Sees Significant Growth in Short Interest
Nvidia Corp. (NASDAQ:NVDA) was the recipient of a large growth in short interest in September. As of September 15th, there was short interest totalling 57,601,051 shares, a growth of 7.3% from the August 31st total of 53,661,383 shares. Currently, 11.4% of the company’s stock are sold short. Based on an average daily volume of 10,937,206 shares, the days-to-cover ratio is currently 5.3 days.
Several research analysts recently commented on NVDA shares. Nomura reissued a “buy” rating and set a $62.50 target price on shares of Nvidia Corp. in a research note on Monday, September 12th. RBC Capital Markets reissued an “outperform” rating and set a $72.00 target price on shares of Nvidia Corp. in a research note on Wednesday, August 31st. Vetr raised Nvidia Corp. from a “hold” rating to a “buy” rating and set a $67.35 target price for the company in a research note on Monday, September 5th. Jefferies Group boosted their target price on Nvidia Corp. from $56.00 to $69.00 and gave the stock a “buy” rating in a research note on Monday, August 8th. Finally, Needham & Company LLC reaffirmed a “hold” rating on shares of Nvidia Corp. in a research report on Wednesday, August 24th. Two analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and twenty have assigned a buy rating to the stock. Nvidia Corp. presently has an average rating of “Buy” and a consensus price target of $58.27.
Nvidia Corp. (NASDAQ:NVDA) opened at 66.54 on Wednesday. Nvidia Corp. has a 52-week low of $23.47 and a 52-week high of $66.64. The stock has a market capitalization of $35.60 billion, a price-to-earnings ratio of 43.72 and a beta of 1.26. The firm has a 50-day moving average price of $62.27 and a 200 day moving average price of $48.26.
Nvidia Corp. (NASDAQ:NVDA) last posted its quarterly earnings data on Thursday, August 11th. The computer hardware maker reported $0.53 earnings per share for the quarter, topping the 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 firm had revenue of $1.43 billion for the quarter, compared to analysts’ expectations of $1.35 billion. During the same period in the previous year, the company posted $0.34 EPS. The company’s quarterly revenue was up 23.9% compared to the same quarter last year. On average, equities research analysts predict that Nvidia Corp. will post $1.85 EPS for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Friday, September 16th. Shareholders of record on Thursday, August 25th were given a dividend of $0.115 per share. This represents a $0.46 annualized dividend and a yield of 0.69%. The ex-dividend date of this dividend was Tuesday, August 23rd. Nvidia Corp.’s payout ratio is 30.26%.
In related news, Director Tench Coxe sold 48,000 shares of the business’s stock in a transaction on Monday, September 19th. The stock was sold at an average price of $63.66, for a total transaction of $3,055,680.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Mark L. Perry sold 35,000 shares of the business’s stock in a transaction on Wednesday, July 13th. The stock was sold at an average price of $52.93, for a total value of $1,852,550.00. Following the transaction, the director now directly owns 97,292 shares of the company’s stock, valued at $5,149,665.56. The disclosure for this sale can be found here. Corporate insiders own 5.82% of the company’s stock.
A number of institutional investors have recently bought and sold shares of NVDA. Brick & Kyle Associates boosted its position 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 valued at $118,000 after buying an additional 502 shares during the last quarter. Compagnie Lombard Odier SCmA boosted its position 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 valued at $159,000 after buying an additional 1,415 shares during the last quarter. Aviance Capital Management LLC purchased a new position in Nvidia Corp. during the second quarter valued at $200,000. Stratos Wealth Partners LTD. purchased a new position in Nvidia Corp. during the second quarter valued at $201,000. Finally, Broderick Brian C purchased a new position in Nvidia Corp. during the second quarter valued at $209,000. Hedge funds and other institutional investors own 86.37% of the company’s stock.
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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