Nvidia Corp. (NVDA) Sees Significant Growth in Short Interest
Nvidia Corp. (NASDAQ:NVDA) was the target of a significant growth in short interest during the month of October. As of October 31st, there was short interest totalling 67,403,180 shares, a growth of 6.1% from the October 14th total of 63,534,803 shares. Based on an average daily volume of 7,406,575 shares, the days-to-cover ratio is presently 9.1 days. Currently, 13.3% of the shares of the stock are sold short.
In other news, CFO Colette Kress sold 38,039 shares of the firm’s stock in a transaction dated 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 sale, the chief financial officer now owns 512,374 shares in the company, valued at approximately $31,859,415.32. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Michael Byron sold 409 shares of the firm’s stock in a transaction dated Thursday, September 1st. The stock was sold at an average price of $63.35, for a total transaction of $25,910.15. The disclosure for this sale can be found here. Company insiders own 5.82% of the company’s stock.
A number of hedge funds have recently bought and sold shares of NVDA. Jennison Associates LLC boosted its stake in Nvidia Corp. by 568.9% in the second quarter. Jennison Associates LLC now owns 9,402,566 shares of the computer hardware maker’s stock worth $442,015,000 after buying an additional 7,996,913 shares in the last quarter. Capital World Investors bought a new stake in Nvidia Corp. during the second quarter worth approximately $172,995,000. Old Mutual Global Investors UK Ltd. boosted its stake in Nvidia Corp. by 679.2% in the third quarter. Old Mutual Global Investors UK Ltd. now owns 1,882,204 shares of the computer hardware maker’s stock worth $128,968,000 after buying an additional 1,640,655 shares in the last quarter. Egerton Capital UK LLP boosted its stake in Nvidia Corp. by 51.6% in the second quarter. Egerton Capital UK LLP now owns 4,751,116 shares of the computer hardware maker’s stock worth $223,350,000 after buying an additional 1,616,816 shares in the last quarter. Finally, UBS Asset Management Americas Inc. boosted its stake in Nvidia Corp. by 93.1% in the second quarter. UBS Asset Management Americas Inc. now owns 3,256,177 shares of the computer hardware maker’s stock worth $153,075,000 after buying an additional 1,570,339 shares in the last quarter. Hedge funds and other institutional investors own 86.45% of the company’s stock.
Several research firms have recently issued reports on NVDA. B. Riley restated a “buy” rating and issued a $64.50 target price on shares of Nvidia Corp. in a report on Tuesday, July 26th. Vetr upgraded shares of Nvidia Corp. from a “strong sell” rating to a “sell” rating and set a $80.58 target price for the company in a report on Tuesday. Finally, Argus raised their target price on shares of Nvidia Corp. from $54.00 to $72.00 and gave the stock a “buy” rating in a report on Monday, August 15th. Two research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating, twenty have given a buy rating and two have assigned a strong buy rating to the stock. The stock currently has an average rating of “Buy” and a consensus price target of $71.58.
Shares of Nvidia Corp. (NASDAQ:NVDA) opened at 86.19 on Wednesday. Nvidia Corp. has a 12 month low of $24.75 and a 12 month high of $88.77. The stock’s 50 day moving average is $69.77 and its 200 day moving average is $56.85. The firm has a market cap of $46.37 billion, a PE ratio of 44.04 and a beta of 1.17.
Nvidia Corp. (NASDAQ:NVDA) last posted its quarterly earnings data on Thursday, November 10th. The computer hardware maker reported $0.94 EPS for the quarter, topping analysts’ consensus estimates of $0.57 by $0.37. The firm earned $2 billion during the quarter, compared to analysts’ expectations of $1.69 billion. Nvidia Corp. had a return on equity of 26.82% and a net margin of 19.52%. The firm’s quarterly revenue was up 53.6% compared to the same quarter last year. During the same quarter last year, the business posted $0.44 EPS. On average, analysts anticipate that Nvidia Corp. will post $2.42 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 19th. Investors of record on Monday, November 28th will be given a dividend of $0.14 per share. This represents a $0.56 dividend on an annualized basis and a yield of 0.65%. The ex-dividend date is Wednesday, November 23rd. This is a boost from Nvidia Corp.’s previous quarterly dividend of $0.12. Nvidia Corp.’s dividend payout ratio (DPR) is currently 24.08%.
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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