The stock of NVIDIA Corporation (NASDAQ:NVDA) hit a new 52-week high and has $83.88 target or 22.00% above today’s $68.75 share price. The 6 months bullish chart indicates low risk for the $37.12 billion company. The 1-year high was reported on Sep, 30 by Barchart.com. If the $83.88 price target is reached, the company will be worth $8.17B more.
The 52-week high event is an important milestone for every stock because it shows very positive momentum and is time when buyers come in. During such notable technical setup, fundamental investors usually stay away and are careful shorting or selling the stock. About 1.00M shares traded hands. NVIDIA Corporation (NASDAQ:NVDA) has risen 112.75% since February 26, 2016 and is uptrending. It has outperformed by 102.33% the S&P500.
Analysts await NVIDIA Corporation (NASDAQ:NVDA) to report earnings on November, 3. They expect $0.56 EPS, up 40.00% or $0.16 from last year’s $0.4 per share. NVDA’s profit will be $302.40M for 30.69 P/E if the $0.56 EPS becomes a reality. After $0.44 actual EPS reported by NVIDIA Corporation for the previous quarter, Wall Street now forecasts 27.27% EPS growth.
NVIDIA Corporation (NASDAQ:NVDA) Ratings Coverage
Out of 27 analysts covering Nvidia Corporation (NASDAQ:NVDA), 15 rate it a “Buy”, 2 “Sell”, while 10 “Hold”. This means 56% are positive. $74 is the highest target while $20 is the lowest. The $44.22 average target is -35.68% below today’s ($68.75) stock price. Nvidia Corporation has been the topic of 76 analyst reports since August 3, 2015 according to StockzIntelligence Inc. The rating was maintained by M Partners on Thursday, September 15 with “Buy”. Wedbush maintained NVIDIA Corporation (NASDAQ:NVDA) on Wednesday, June 15 with “Outperform” rating. The firm has “Hold” rating given on Friday, August 12 by Deutsche Bank. RBC Capital Markets maintained the stock with “Sector Perform” rating in Friday, November 6 report. The company was maintained on Friday, August 12 by Barclays Capital. The stock of NVIDIA Corporation (NASDAQ:NVDA) earned “Mkt Perform” rating by FBR Capital on Friday, August 7. The rating was initiated by Roth Capital on Monday, October 12 with “Neutral”. Topeka Capital Markets upgraded the stock to “Buy” rating in Friday, May 13 report. TH Capital maintained NVIDIA Corporation (NASDAQ:NVDA) on Friday, November 6 with “Neutral” rating. The firm has “Buy” rating given on Monday, April 4 by Jefferies.
According to Zacks Investment Research, “NVIDIA Corporation designs, develops and markets a top-to-bottom family of award-winning 3D graphics processors, graphics processing units and related software that set the standard for performance, quality and features for every type of desktop personal computer user, from professional workstations to low-cost computers. NVIDIA Corporation’s 3D graphics processors are used in a wide variety of applications, including games, the Internet and industrial design.”
Insitutional Activity: The institutional sentiment decreased to 1.02 in 2016 Q2. Its down 0.36, from 1.38 in 2016Q1. The ratio turned negative, as 45 funds sold all NVIDIA Corporation shares owned while 245 reduced positions. 117 funds bought stakes while 178 increased positions. They now own 449.32 million shares or 5.27% less from 474.31 million shares in 2016Q1.
Keywise Capital Management Ltd holds 28.36% of its portfolio in NVIDIA Corporation for 1.15 million shares. Trinity Street Asset Management Llp owns 563,363 shares or 6.15% of their US portfolio. Moreover, Contour Asset Management Llc has 5.45% invested in the company for 1.71 million shares. The California-based Guinness Atkinson Asset Management Inc has invested 4.95% in the stock. Sensato Investors Llc, a California-based fund reported 537,700 shares.
Insider Transactions: Since January 1, 0001, the stock had 0 insider purchases, and 13 selling transactions for $46.36 million net activity.
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