NVIDIA (NASDAQ:NVDA) Announces Quarterly Earnings Results

NVIDIA (NASDAQ:NVDA – Get Rating) posted its earnings results on Wednesday. The computer hardware maker reported $1.09 EPS for the quarter, topping analysts’ consensus estimates of $0.92 by $0.17, RTT News reports. The firm had revenue of $7.19 billion during the quarter, compared to analysts’ expectations of $6.52 billion. NVIDIA had a net margin of 18.52% and a return on equity of 24.18%. The business’s revenue for the quarter was down 13.2% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.18 earnings per share.

NVIDIA Stock Up 24.4 %

NVIDIA stock opened at $379.80 on Friday. The company has a current ratio of 3.52, a quick ratio of 2.73 and a debt-to-equity ratio of 0.44. The firm’s fifty day moving average price is $280.52 and its two-hundred day moving average price is $218.29. The firm has a market capitalization of $939.29 billion, a price-to-earnings ratio of 197.81, a price-to-earnings-growth ratio of 5.31 and a beta of 1.77. NVIDIA has a 1-year low of $108.13 and a 1-year high of $394.80.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on NVDA. Rosenblatt Securities restated a “buy” rating and issued a $320.00 target price on shares of NVIDIA in a research report on Wednesday, March 22nd. Morgan Stanley raised their price objective on NVIDIA from $304.00 to $450.00 in a report on Thursday. Bank of America upped their target price on NVIDIA from $340.00 to $450.00 in a report on Thursday. BMO Capital Markets lifted their price target on NVIDIA from $350.00 to $450.00 in a research note on Thursday. Finally, Wells Fargo & Company upped their price objective on NVIDIA from $320.00 to $450.00 in a research note on Thursday. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating, thirty have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $375.13.

Insider Transactions at NVIDIA

In other NVIDIA news, EVP Debora Shoquist sold 23,084 shares of NVIDIA stock in a transaction dated Thursday, May 18th. The stock was sold at an average price of $305.00, for a total transaction of $7,040,620.00. Following the completion of the transaction, the executive vice president now owns 139,860 shares in the company, valued at approximately $42,657,300. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other NVIDIA news, EVP Debora Shoquist sold 23,084 shares of the firm’s stock in a transaction on Thursday, May 18th. The stock was sold at an average price of $305.00, for a total transaction of $7,040,620.00. Following the transaction, the executive vice president now directly owns 139,860 shares in the company, valued at approximately $42,657,300. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Mark L. Perry sold 20,000 shares of the company’s stock in a transaction on Monday, February 27th. The stock was sold at an average price of $236.37, for a total transaction of $4,727,400.00. Following the completion of the sale, the director now owns 140,000 shares of the company’s stock, valued at approximately $33,091,800. The disclosure for this sale can be found here. Insiders sold a total of 54,084 shares of company stock valued at $14,516,510 over the last three months. Corporate insiders own 3.99% of the company’s stock.

Hedge Funds Weigh In On NVIDIA

A number of hedge funds and other institutional investors have recently modified their holdings of NVDA. Geode Capital Management LLC increased its position in shares of NVIDIA by 0.6% during the 1st quarter. Geode Capital Management LLC now owns 46,056,013 shares of the computer hardware maker’s stock valued at $12,763,663,000 after purchasing an additional 267,061 shares during the last quarter. Morgan Stanley raised its position in NVIDIA by 20.2% in the fourth quarter. Morgan Stanley now owns 27,533,756 shares of the computer hardware maker’s stock worth $4,023,783,000 after acquiring an additional 4,621,002 shares during the period. Norges Bank purchased a new position in NVIDIA in the fourth quarter valued at about $3,900,874,000. Moneta Group Investment Advisors LLC grew its position in shares of NVIDIA by 160,446.3% during the 4th quarter. Moneta Group Investment Advisors LLC now owns 19,586,643 shares of the computer hardware maker’s stock valued at $2,862,392,000 after acquiring an additional 19,574,443 shares during the period. Finally, Charles Schwab Investment Management Inc. increased its stake in shares of NVIDIA by 2.0% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 12,269,735 shares of the computer hardware maker’s stock worth $3,347,921,000 after purchasing an additional 243,671 shares during the last quarter. Hedge funds and other institutional investors own 61.80% of the company’s stock.

About NVIDIA

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NVIDIA Corp. engages in the design and manufacture of computer graphics processors, chipsets, and related multimedia software. It operates through the following segments: Graphics Processing Unit (GPU), Tegra Processor, and All Other. The GPU segment consists of product brands, 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.