NVIDIA (NASDAQ:NVDA) Posts Earnings Results, Beats Expectations By $0.17 EPS

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

NVIDIA Trading Up 24.4 %

NVIDIA stock opened at $379.80 on Friday. NVIDIA has a 12 month low of $108.13 and a 12 month high of $394.80. The company has a quick ratio of 2.73, a current ratio of 3.52 and a debt-to-equity ratio of 0.44. The stock has a market cap of $939.29 billion, a P/E ratio of 197.81, a P/E/G ratio of 5.31 and a beta of 1.77. The company’s fifty day simple moving average is $280.52 and its 200-day simple moving average is $218.29.

Insider Buying and Selling

In other NVIDIA news, Director Dawn E. Hudson sold 5,000 shares of the company’s stock in a transaction dated Thursday, March 30th. The stock was sold at an average price of $274.55, for a total value of $1,372,750.00. Following the transaction, the director now directly owns 85,350 shares of the company’s stock, valued at approximately $23,432,842.50. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other NVIDIA news, CFO Colette Kress sold 6,000 shares of the business’s stock in a transaction dated Monday, March 13th. The stock was sold at an average price of $229.29, for a total value of $1,375,740.00. Following the completion of the sale, the chief financial officer now owns 561,401 shares of the company’s stock, valued at $128,723,635.29. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, Director Dawn E. Hudson sold 5,000 shares of the company’s stock in a transaction dated Thursday, March 30th. The stock was sold at an average price of $274.55, for a total value of $1,372,750.00. Following the sale, the director now owns 85,350 shares of the company’s stock, valued at approximately $23,432,842.50. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 54,084 shares of company stock worth $14,516,510. Corporate insiders own 3.99% of the company’s stock.

Institutional Investors Weigh In On NVIDIA

A number of large investors have recently added to or reduced their stakes in NVDA. AJ Wealth Strategies LLC grew its stake in NVIDIA by 1.7% in the 1st quarter. AJ Wealth Strategies LLC now owns 4,238 shares of the computer hardware maker’s stock valued at $1,156,000 after buying an additional 70 shares during the last quarter. Lake Point Wealth Management lifted its holdings in shares of NVIDIA by 16.4% during the first quarter. Lake Point Wealth Management now owns 540 shares of the computer hardware maker’s stock worth $147,000 after buying an additional 76 shares during the last quarter. Cito Capital Group LLC boosted its position in shares of NVIDIA by 0.6% in the first quarter. Cito Capital Group LLC now owns 13,883 shares of the computer hardware maker’s stock valued at $3,856,000 after acquiring an additional 83 shares during the period. Castleview Partners LLC grew its stake in shares of NVIDIA by 104.8% in the first quarter. Castleview Partners LLC now owns 172 shares of the computer hardware maker’s stock worth $48,000 after acquiring an additional 88 shares during the last quarter. Finally, Marietta Investment Partners LLC increased its position in NVIDIA by 1.1% during the first quarter. Marietta Investment Partners LLC now owns 8,634 shares of the computer hardware maker’s stock worth $2,398,000 after acquiring an additional 90 shares during the period. Institutional investors own 61.80% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on NVDA. Truist Financial boosted their price target on NVIDIA from $322.00 to $470.00 in a research report on Thursday. The Goldman Sachs Group raised their target price on shares of NVIDIA from $275.00 to $440.00 in a research note on Thursday. Barclays upped their price target on shares of NVIDIA from $275.00 to $500.00 in a research note on Thursday. Oppenheimer raised their price objective on shares of NVIDIA from $350.00 to $420.00 in a research note on Thursday. Finally, Deutsche Bank Aktiengesellschaft upped their target price on NVIDIA from $220.00 to $390.00 in a research report on Thursday. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating, thirty have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, NVIDIA currently has a consensus rating of “Moderate Buy” and an average target price of $375.13.

NVIDIA Company Profile

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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.