NVIDIA (NASDAQ:NVDA) Releases Quarterly Earnings Results, Misses Estimates By $0.13 EPS

NVIDIA (NASDAQ:NVDAGet Rating) issued its quarterly earnings data on Wednesday. The computer hardware maker reported $0.58 earnings per share for the quarter, missing the consensus estimate of $0.71 by ($0.13), RTT News reports. The company had revenue of $5.93 billion during the quarter, compared to the consensus estimate of $5.82 billion. NVIDIA had a net margin of 26.03% and a return on equity of 36.83%. NVIDIA’s revenue for the quarter was down 16.5% compared to the same quarter last year. During the same period in the previous year, the company earned $1.01 earnings per share.

NVIDIA Trading Down 4.5 %

NVIDIA stock traded down $7.56 during mid-day trading on Wednesday, hitting $159.10. 63,426,461 shares of the stock were exchanged, compared to its average volume of 55,902,086. The firm’s fifty day simple moving average is $132.35 and its two-hundred day simple moving average is $157.02. The stock has a market capitalization of $396.16 billion, a price-to-earnings ratio of 52.16, a PEG ratio of 5.42 and a beta of 1.70. The company has a quick ratio of 3.11, a current ratio of 3.62 and a debt-to-equity ratio of 0.41. NVIDIA has a 12 month low of $108.13 and a 12 month high of $346.47.

NVIDIA Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, September 29th. Shareholders of record on Thursday, September 8th were issued a dividend of $0.04 per share. The ex-dividend date was Wednesday, September 7th. This represents a $0.16 annualized dividend and a yield of 0.10%. NVIDIA’s payout ratio is 5.25%.

Insider Activity

In other news, Director Mark A. Stevens sold 87,500 shares of NVIDIA stock in a transaction on Thursday, October 13th. The shares were sold at an average price of $119.65, for a total value of $10,469,375.00. Following the completion of the sale, the director now owns 2,310,193 shares in the company, valued at approximately $276,414,592.45. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, Director Mark A. Stevens sold 87,500 shares of NVIDIA stock in a transaction on Thursday, October 13th. The shares were sold at an average price of $119.65, for a total value of $10,469,375.00. Following the completion of the sale, the director now owns 2,310,193 shares in the company, valued at approximately $276,414,592.45. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Mark A. Stevens sold 85,000 shares of the business’s stock in a transaction on Tuesday, October 11th. The shares were sold at an average price of $116.49, for a total transaction of $9,901,650.00. Following the sale, the director now owns 2,397,693 shares of the company’s stock, valued at approximately $279,307,257.57. The disclosure for this sale can be found here. 4.04% of the stock is currently owned by company insiders.

Institutional Trading of NVIDIA

Hedge funds and other institutional investors have recently bought and sold shares of the business. Cohen & Steers Inc. increased its stake in NVIDIA by 30.3% during the 1st quarter. Cohen & Steers Inc. now owns 2,019 shares of the computer hardware maker’s stock valued at $551,000 after purchasing an additional 470 shares in the last quarter. MAS Advisors LLC increased its stake in NVIDIA by 42.1% during the 1st quarter. MAS Advisors LLC now owns 1,967 shares of the computer hardware maker’s stock valued at $545,000 after purchasing an additional 583 shares in the last quarter. Aspire Capital Advisors LLC bought a new stake in NVIDIA during the 1st quarter valued at $453,000. KC Investment Advisors LLC boosted its holdings in NVIDIA by 7.8% during the 1st quarter. KC Investment Advisors LLC now owns 1,598 shares of the computer hardware maker’s stock worth $436,000 after acquiring an additional 116 shares during the last quarter. Finally, KB Financial Partners LLC boosted its holdings in NVIDIA by 12.3% during the 1st quarter. KB Financial Partners LLC now owns 1,144 shares of the computer hardware maker’s stock worth $312,000 after acquiring an additional 125 shares during the last quarter. Institutional investors own 62.58% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on the stock. Stifel Nicolaus began coverage on shares of NVIDIA in a research report on Wednesday, September 7th. They issued a “hold” rating and a $165.00 price objective on the stock. Jefferies Financial Group lowered their price target on shares of NVIDIA from $370.00 to $280.00 in a research report on Thursday, August 25th. StockNews.com lowered shares of NVIDIA from a “hold” rating to a “sell” rating in a research report on Thursday, October 20th. Citigroup lowered their price target on shares of NVIDIA from $248.00 to $210.00 and set a “buy” rating on the stock in a research report on Tuesday, October 11th. Finally, Susquehanna lowered their price target on shares of NVIDIA from $200.00 to $190.00 and set a “positive” rating on the stock in a research report on Wednesday, September 21st. One research analyst has rated the stock with a sell rating, nine have given a hold rating, twenty-five have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, NVIDIA currently has an average rating of “Moderate Buy” and a consensus price target of $208.79.

About NVIDIA

(Get Rating)

NVIDIA Corporation provides graphics, and compute and networking solutions in the United States, Taiwan, China, and internationally. The company's Graphics segment offers GeForce GPUs for gaming and PCs, the GeForce NOW game streaming service and related infrastructure, and solutions for gaming platforms; Quadro/NVIDIA RTX GPUs for enterprise workstation graphics; vGPU software for cloud-based visual and virtual computing; automotive platforms for infotainment systems; and Omniverse software for building 3D designs and virtual worlds.

Read More

Earnings History for NVIDIA (NASDAQ:NVDA)

Receive News & Ratings for NVIDIA Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for NVIDIA and related companies with MarketBeat.com's FREE daily email newsletter.