NVIDIA (NASDAQ:NVDA) Shares Down 1.4% – Time to Sell?

by · The Markets Daily

Shares of NVIDIA Corporation (NASDAQ:NVDA – Get Free Report) traded down 1.4% during trading on Monday . The stock traded as low as $164.27 and last traded at $165.17. 182,983,743 shares were traded during trading, an increase of 2% from the average session volume of 180,097,156 shares. The stock had previously closed at $167.52.

NVIDIA News Roundup

Here are the key news stories impacting NVIDIA this week:

Analysts Set New Price Targets

Several research firms recently commented on NVDA. Cantor Fitzgerald reiterated an “overweight” rating and set a $300.00 price objective on shares of NVIDIA in a research note on Monday, March 23rd. Wedbush raised their target price on shares of NVIDIA from $230.00 to $300.00 and gave the company an “outperform” rating in a research note on Tuesday, March 3rd. Tigress Financial reaffirmed a “strong-buy” rating and set a $360.00 price target (up from $350.00) on shares of NVIDIA in a research report on Thursday, March 5th. Weiss Ratings reiterated a “buy (b-)” rating on shares of NVIDIA in a report on Monday, December 29th. Finally, Morgan Stanley set a $260.00 price objective on NVIDIA in a research report on Monday, March 2nd. Four equities research analysts have rated the stock with a Strong Buy rating, forty-seven have assigned a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat, NVIDIA presently has a consensus rating of “Buy” and a consensus price target of $275.25.

View Our Latest Report on NVDA

NVIDIA Stock Up 0.8%

The firm has a market capitalization of $4.27 trillion, a price-to-earnings ratio of 35.87, a P/E/G ratio of 0.55 and a beta of 2.33. The company has a quick ratio of 3.24, a current ratio of 3.91 and a debt-to-equity ratio of 0.05. The company’s 50 day moving average price is $182.92 and its 200 day moving average price is $184.28.

NVIDIA (NASDAQ:NVDA – Get Free Report) last issued its earnings results on Wednesday, February 25th. The computer hardware maker reported $1.62 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.54 by $0.08. NVIDIA had a return on equity of 97.37% and a net margin of 55.60%.The company had revenue of $68.13 billion during the quarter, compared to analyst estimates of $65.56 billion. During the same quarter last year, the business posted $0.89 EPS. The firm’s quarterly revenue was up 73.2% on a year-over-year basis. As a group, research analysts forecast that NVIDIA Corporation will post 2.77 earnings per share for the current fiscal year.

NVIDIA Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 1st. Stockholders of record on Wednesday, March 11th will be paid a $0.01 dividend. This represents a $0.04 annualized dividend and a dividend yield of 0.0%. The ex-dividend date is Wednesday, March 11th. NVIDIA’s dividend payout ratio (DPR) is presently 0.82%.

Insider Activity

In related news, EVP Ajay K. Puri sold 300,000 shares of the company’s stock in a transaction that occurred on Wednesday, March 18th. The stock was sold at an average price of $182.25, for a total value of $54,675,000.00. Following the sale, the executive vice president owned 3,018,547 shares in the company, valued at $550,130,190.75. This represents a 9.04% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Mark A. Stevens sold 221,682 shares of the stock in a transaction that occurred on Friday, March 20th. The stock was sold at an average price of $173.68, for a total transaction of $38,501,729.76. Following the completion of the transaction, the director owned 7,399,771 shares in the company, valued at approximately $1,285,192,227.28. This trade represents a 2.91% decrease in their position. The SEC filing for this sale provides additional information. Over the last three months, insiders have sold 1,401,616 shares of company stock valued at $253,555,407. 4.17% of the stock is owned by insiders.

Institutional Trading of NVIDIA

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Lifetime Wealth Management P.C. purchased a new stake in shares of NVIDIA in the fourth quarter worth about $26,000. Winnow Wealth LLC acquired a new position in NVIDIA in the second quarter valued at approximately $32,000. Longfellow Investment Management Co. LLC boosted its position in NVIDIA by 47.9% in the 2nd quarter. Longfellow Investment Management Co. LLC now owns 207 shares of the computer hardware maker’s stock worth $33,000 after purchasing an additional 67 shares in the last quarter. Inspire Investing LLC purchased a new stake in NVIDIA in the 4th quarter worth approximately $44,000. Finally, AlphaCentric Advisors LLC acquired a new stake in shares of NVIDIA during the 4th quarter worth approximately $45,000. Institutional investors and hedge funds own 65.27% of the company’s stock.

About NVIDIA

(Get Free Report)

NVIDIA Corporation, founded in 1993 and headquartered in Santa Clara, California, is a global technology company that designs and develops graphics processing units (GPUs) and system-on-chip (SoC) technologies. Co-founded by Jensen Huang, who serves as president and chief executive officer, along with Chris Malachowsky and Curtis Priem, NVIDIA has grown from a graphics-focused chipmaker into a broad provider of accelerated computing hardware and software for multiple industries.

The company’s product portfolio spans discrete GPUs for gaming and professional visualization (marketed under the GeForce and NVIDIA RTX lines), high-performance data center accelerators used for AI training and inference (including widely adopted platforms such as the A100 and H100 series), and Tegra SoCs for automotive and edge applications.

Further Reading