NVIDIA Corporation (NVDA) Short Interest Update
NVIDIA Corporation (NASDAQ:NVDA) saw a large increase in short interest in the month of November. As of November 30th, there was short interest totalling 17,796,113 shares, an increase of 29.3% from the November 15th total of 13,762,876 shares. Based on an average daily volume of 13,646,555 shares, the short-interest ratio is presently 1.3 days. Currently, 3.1% of the company’s shares are sold short.
A number of brokerages recently weighed in on NVDA. Vetr upgraded shares of NVIDIA from a “hold” rating to a “buy” rating and set a $176.95 price target on the stock in a research report on Wednesday, September 6th. Citigroup restated a “buy” rating and set a $210.00 target price (up from $185.00) on shares of NVIDIA in a report on Friday, September 29th. Bank of America set a $210.00 target price on shares of NVIDIA and gave the stock a “buy” rating in a report on Thursday, October 12th. Loop Capital restated a “buy” rating and set a $181.00 target price on shares of NVIDIA in a report on Tuesday, August 22nd. Finally, Needham & Company LLC raised their target price on shares of NVIDIA from $200.00 to $250.00 and gave the stock a “buy” rating in a report on Friday, October 13th. Four research analysts have rated the stock with a sell rating, fifteen have assigned a hold rating, twenty-four have issued a buy rating and one has given a strong buy rating to the stock. The stock presently has a consensus rating of “Buy” and a consensus target price of $187.38.
NVIDIA (NASDAQ NVDA) opened at $190.84 on Wednesday. NVIDIA has a 52 week low of $90.05 and a 52 week high of $218.67. The company has a quick ratio of 7.42, a current ratio of 8.26 and a debt-to-equity ratio of 0.31. The firm has a market cap of $116,042.95, a price-to-earnings ratio of 47.17, a P/E/G ratio of 4.46 and a beta of 1.18.
NVIDIA (NASDAQ:NVDA) last released its earnings results on Thursday, November 9th. The computer hardware maker reported $1.33 earnings per share for the quarter, beating the consensus estimate of $0.94 by $0.39. NVIDIA had a net margin of 28.78% and a return on equity of 42.71%. The business had revenue of $2.64 billion during the quarter, compared to analysts’ expectations of $2.36 billion. During the same period last year, the business earned $0.94 earnings per share. The firm’s revenue was up 31.5% on a year-over-year basis. research analysts anticipate that NVIDIA will post 4.19 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, December 15th. Shareholders of record on Friday, November 24th will be issued a dividend of $0.15 per share. This is an increase from NVIDIA’s previous quarterly dividend of $0.14. The ex-dividend date is Wednesday, November 22nd. This represents a $0.60 annualized dividend and a yield of 0.31%. NVIDIA’s dividend payout ratio (DPR) is currently 14.89%.
In related news, Director A Brooke Seawell sold 1,029 shares of the stock in a transaction that occurred on Monday, November 20th. The shares were sold at an average price of $214.10, for a total value of $220,308.90. Following the sale, the director now directly owns 1,029 shares in the company, valued at approximately $220,308.90. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Dawn E. Hudson sold 3,052 shares of the stock in a transaction that occurred on Wednesday, November 22nd. The shares were sold at an average price of $214.39, for a total transaction of $654,318.28. Following the completion of the sale, the director now owns 28,816 shares in the company, valued at $6,177,862.24. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 315,175 shares of company stock worth $59,428,079. Corporate insiders own 5.17% of the company’s stock.
Institutional investors have recently made changes to their positions in the business. Welch Investments LLC acquired a new stake in NVIDIA during the 3rd quarter valued at $104,000. Evercore Wealth Management LLC lifted its holdings in NVIDIA by 36.9% during the 2nd quarter. Evercore Wealth Management LLC now owns 765 shares of the computer hardware maker’s stock valued at $110,000 after purchasing an additional 206 shares during the last quarter. Thompson Davis & CO. Inc. lifted its holdings in NVIDIA by 0.7% during the 2nd quarter. Thompson Davis & CO. Inc. now owns 822 shares of the computer hardware maker’s stock valued at $119,000 after purchasing an additional 6 shares during the last quarter. Edge Advisors LLC lifted its holdings in shares of NVIDIA by 98.8% during the third quarter. Edge Advisors LLC now owns 835 shares of the computer hardware maker’s stock worth $149,000 after buying an additional 415 shares in the last quarter. Finally, Hanson McClain Inc. lifted its holdings in shares of NVIDIA by 12.7% during the second quarter. Hanson McClain Inc. now owns 881 shares of the computer hardware maker’s stock worth $127,000 after buying an additional 99 shares in the last quarter. 63.51% of the stock is owned by institutional investors and hedge funds.
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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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