Published: Sun, November 12, 2017
Money | By Charlene Sutton

Nvidia shares rise on Q3 Financial Results

Nvidia shares rise on Q3 Financial Results

It now has negative earnings.

Stock research firms now have a positive stance on shares of NVIDIA Corporation (NASDAQ:NVDA). Therefore 57% are positive. Morgan Stanley raised their price target on NVIDIA Corporation from $168.00 to $210.00 and gave the stock an equal weight rating in a research note on Monday, November 6th. The stock was sold at an average price of $162.24, for a total value of $2,641,429.44.

Revenue from the business, Nvidia's second-biggest revenue contributor, more than doubled to $501 million in the quarter and easily beat analysts' estimate of $474.2 million, according to Thomson Reuters I/B/E/S. Renaissance Technologies LLC now owns 4,758,793 shares of the computer hardware maker's stock worth $687,931,000 after buying an additional 768,200 shares during the period. Mizuho reiterated a "buy" rating and issued a $180.00 price objective (up from $170.00) on shares of NVIDIA Corporation in a research report on Friday, August 11th. The company has an average rating of Hold and an average price target of $183.27. The company was maintained on Friday, June 16 by Raymond James. As per Thursday, April 7, the company rating was upgraded by Bernstein. The firm has "Buy" rating by RBC Capital Markets given on Thursday, August 17. BMO Capital Markets maintained the stock with "Underperform" rating in Thursday, May 11 report.

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Since May 11, 2017, it had 0 insider purchases, and 6 insider sales for $33.17 million activity. $325,048 worth of NVIDIA Corporation (NASDAQ:NVDA) was sold by Drell Persis. Another trade for 50,000 shares valued at $8.23 million was sold by COXE TENCH. On Friday, May 19 the insider Byron Michael sold $3.50 million. 63,717 shares were sold by Shoquist Debora, worth $9.23 million. 3,107 shares were sold by SEAWELL A BROOKE, worth $434,980. Insiders own 5.82% of the company's stock. NVIDIA Corporation (NDAQ:NVDA) has risen 212.28% since November 11, 2016 and is uptrending. It has outperformed by 195.58% the S&P500.

Nvidia Corporation focuses on personal computer graphics, graphics processing unit (GPU) and also on artificial intelligence (AI).

Nvidia shares are surging as Wall Street is growing more bullish on the company's opportunities in key secular growth markets. The Company's operates through two divisions: GPU and Tegra Processor. It has a 54.08 P/E ratio.

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Nvidia's gaming revenue increased 25.5 percent to $1.56 billion, accounting for almost 60 percent of total revenue. It increased, as 73 investors sold NVIDIA Corporation shares while 262 reduced holdings. Inc. raised its stake in shares of NVIDIA Corporation by 0.7% during the second quarter. The company announced a 7 percent increase in its quarterly cash dividend to $0.15 per share from $0.14 per share. The stock of NVIDIA Corporation (NASDAQ:NVDA) has "Buy" rating given on Monday, July 10 by Needham. Guggenheim Cap Ltd has invested 0.35% in NVIDIA Corporation (NASDAQ:NVDA). 2,000 were reported by Catawba Capital Mngmt Va. Invesco Limited invested in 0.27% or 5.91M shares. This is an increase from NVIDIA Corporation's previous quarterly dividend of $0.14.

The company last reported its quarterly results on Nov 09 AMC. NVIDIA Corporation's institutional ownership is 67.9%, while its institutional transactions stand at -0.12%. City Hldgs Co accumulated 81 shares. Enterprise Fincl Services reported 0.02% in NVIDIA Corporation (NASDAQ:NVDA). TB Alternative Assets Ltd. acquired a new position in NVIDIA Corporation in the 2nd quarter valued at $116,000. Massmutual Trust Fsb Adv has 45,563 shares. Stockholders of record on Friday, November 24th will be paid a dividend of $0.15 per share. The company has 592.09 Million shares outstanding and 573.18 Million shares were floated in market. CBS Corporation (NYSE:CBS) has risen 18.35% since November 11, 2016 and is uptrending. It has outperformed by 14.13% the S&P500. Peapack Gladstone Corp holds 0% or 123,309 shares in its portfolio. Royal Bancshares Of Canada owns 527,639 shares or 0.04% of their U.S. portfolio. Moreover, Fca Corp Tx has 1.26% invested in the company for 332,128 shares. The Illinois-based New England Research & Management Inc. has invested 1.42% in the stock. Oxbow Advisors Llc, a Texas-based fund reported 614,178 shares.

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