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

NVIDIA (NASDAQ:NVDAGet Rating) released its quarterly earnings data on Wednesday. The computer hardware maker reported $0.58 EPS for the quarter, missing analysts’ consensus estimates of $0.71 by ($0.13), RTT News reports. The firm had revenue of $5.93 billion during the quarter, compared to analysts’ expectations of $5.82 billion. NVIDIA had a return on equity of 29.47% and a net margin of 20.85%. The business’s revenue for the quarter was down 16.5% compared to the same quarter last year. During the same quarter last year, the business earned $1.01 earnings per share.

NVIDIA Stock Performance

Shares of NASDAQ NVDA traded down $3.59 during mid-day trading on Friday, hitting $153.18. The company had a trading volume of 484,555 shares, compared to its average volume of 55,841,464. The stock has a market cap of $381.42 billion, a price-to-earnings ratio of 66.71, a PEG ratio of 5.32 and a beta of 1.70. NVIDIA has a 12 month low of $108.13 and a 12 month high of $346.47. The company has a debt-to-equity ratio of 0.41, a current ratio of 3.62 and a quick ratio of 3.11. The firm’s 50 day simple moving average is $132.68 and its two-hundred day simple moving average is $157.02.

NVIDIA Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, December 22nd. Investors of record on Thursday, December 1st will be issued a $0.04 dividend. This represents a $0.16 annualized dividend and a dividend yield of 0.10%. The ex-dividend date of this dividend is Wednesday, November 30th. NVIDIA’s dividend payout ratio (DPR) is 6.81%.

Wall Street Analysts Forecast Growth

NVDA has been the topic of a number of research reports. Oppenheimer cut their price objective on NVIDIA from $250.00 to $225.00 and set an “outperform” rating on the stock in a report on Friday, November 11th. Daiwa Capital Markets downgraded NVIDIA from an “outperform” rating to a “neutral” rating and cut their price objective for the stock from $215.00 to $133.00 in a report on Friday, September 2nd. Sanford C. Bernstein dropped their target price on NVIDIA from $210.00 to $180.00 in a report on Thursday, September 1st. Jefferies Financial Group dropped their target price on NVIDIA from $370.00 to $280.00 in a report on Thursday, August 25th. Finally, Rosenblatt Securities reiterated a “buy” rating and set a $320.00 target price on shares of NVIDIA in a report on Thursday, August 25th. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating, twenty-five have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $210.21.

Insider Buying and Selling

In related news, Director Mark A. Stevens sold 87,500 shares of the firm’s stock in a transaction that occurred on Thursday, October 13th. The stock was sold at an average price of $119.65, for a total value of $10,469,375.00. Following the sale, the director now owns 2,310,193 shares of the company’s stock, valued at approximately $276,414,592.45. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In related news, Director Mark A. Stevens sold 85,000 shares of the firm’s stock in a transaction that occurred on Tuesday, October 11th. The stock was sold at an average price of $116.49, for a total value 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 sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, 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 sale, the director now directly owns 2,310,193 shares in the company, valued at approximately $276,414,592.45. The disclosure for this sale can be found here. Company insiders own 4.04% of the company’s stock.

Institutional Trading of NVIDIA

Several hedge funds have recently added to or reduced their stakes in NVDA. United Bank raised its stake in NVIDIA by 28.9% during the 1st quarter. United Bank now owns 7,717 shares of the computer hardware maker’s stock valued at $2,106,000 after acquiring an additional 1,730 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. raised its stake in NVIDIA by 6.8% during the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 3,904,772 shares of the computer hardware maker’s stock valued at $1,065,457,000 after acquiring an additional 249,045 shares in the last quarter. MAS Advisors LLC raised 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 acquiring an additional 583 shares in the last quarter. Navis Wealth Advisors LLC raised its stake in NVIDIA by 205.3% during the 1st quarter. Navis Wealth Advisors LLC now owns 2,900 shares of the computer hardware maker’s stock valued at $791,000 after acquiring an additional 1,950 shares in the last quarter. Finally, Ergoteles LLC acquired a new position in shares of NVIDIA during the 1st quarter valued at $929,000. Institutional investors own 62.58% of the company’s stock.

About NVIDIA

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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.

See Also

Earnings History for NVIDIA (NASDAQ:NVDA)

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