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

NVIDIA (NASDAQ:NVDAGet Rating) announced 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 firm had revenue of $5.93 billion during the quarter, compared to the consensus estimate of $5.82 billion. NVIDIA had a net margin of 20.85% and a return on equity of 29.47%. The firm’s quarterly revenue was down 16.5% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.01 earnings per share.

NVIDIA Trading Down 1.5 %

NASDAQ NVDA opened at $156.77 on Friday. NVIDIA has a 1-year low of $108.13 and a 1-year high of $346.47. The company has a current ratio of 3.62, a quick ratio of 3.11 and a debt-to-equity ratio of 0.41. The company has a market capitalization of $390.36 billion, a PE ratio of 66.71, a price-to-earnings-growth ratio of 5.32 and a beta of 1.70. The firm’s fifty day simple moving average is $132.68 and its 200-day simple moving average is $157.02.

NVIDIA Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, September 29th. Stockholders of record on Thursday, September 8th were paid a $0.04 dividend. This represents a $0.16 dividend on an annualized basis and a dividend yield of 0.10%. The ex-dividend date was Wednesday, September 7th. NVIDIA’s dividend payout ratio (DPR) is presently 6.81%.

Insider Transactions at NVIDIA

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

Hedge Funds Weigh In On NVIDIA

Several hedge funds have recently bought and sold shares of NVDA. Mirae Asset Global Investments Co. Ltd. increased its position in NVIDIA by 6.8% during the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 3,904,772 shares of the computer hardware maker’s stock worth $1,065,457,000 after buying an additional 249,045 shares during the last quarter. Charles Schwab Investment Management Inc. increased its position in NVIDIA by 2.0% during the first quarter. Charles Schwab Investment Management Inc. now owns 12,269,735 shares of the computer hardware maker’s stock worth $3,347,921,000 after buying an additional 243,671 shares during the last quarter. ING Groep NV increased its position in NVIDIA by 36.5% during the first quarter. ING Groep NV now owns 612,080 shares of the computer hardware maker’s stock worth $167,012,000 after buying an additional 163,685 shares during the last quarter. Chiron Investment Management LLC acquired a new position in NVIDIA during the first quarter worth $22,767,000. Finally, First Trust Advisors LP boosted its holdings in NVIDIA by 5.1% during the first quarter. First Trust Advisors LP now owns 1,377,253 shares of the computer hardware maker’s stock valued at $375,797,000 after acquiring an additional 66,852 shares during the period. 62.58% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on NVDA. Piper Sandler lowered their price objective on NVIDIA from $235.00 to $200.00 in a report on Thursday, September 1st. Susquehanna boosted their price objective on NVIDIA from $180.00 to $185.00 in a report on Thursday. Credit Suisse Group reaffirmed an “outperform” rating and set a $210.00 target price (up from $205.00) on shares of NVIDIA in a report on Wednesday. Morgan Stanley lowered their target price on NVIDIA from $182.00 to $175.00 and set an “equal weight” rating for the company in a report on Thursday. Finally, Raymond James lowered their target price on NVIDIA from $210.00 to $190.00 in a report on Thursday. One analyst has rated the stock with a sell rating, nine have issued a hold rating, twenty-five have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $210.21.

NVIDIA Company Profile

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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.

Further Reading

Earnings History for NVIDIA (NASDAQ:NVDA)

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