The market envies NVIDIA Corporation (NASDAQ:NVDA)

Posted by Lacee Page August 12, 2013 0 Comment 849 views

On Friday, NVIDIA Corporation (NASDAQ:NVDA) stock witnessed some unusually massive option-trading activity. Stock-investors ended up buying 16,255 put-options on NVDA. This is almost a 225% increase in comparison to the standard 4,998 put-options daily volume.

Analysts’ opinion

Recently, a large number of analysts have weighed in the company shares. In a note to investors, Jeffries Group analysts’ increased their price-target of NVIDIA from $14.00 to $1500 and have set a “hold” rating on the stock. Separately, Deutsche Bank analysts have also increased the price-target on NVDA shares from $13.00 to $16.00 and now have set a “hold”-rating on the stock. Nomura analysts reiterated their “buy” rating on NVDA shares and have moved the stock price target from $15.00 to $17.00.

Nineteen analysts have assigned a “hold” rating while one has assigned a “sell”
rating and a “buy” rating has been issued by 6 analysts. The average analyst consensus is a “buy”.

In Friday’s trading session, NVIDIA Corporation (NASDAQ:NVDA) traded down 1.42%. The opening price of the shares was $14.12, which touched an intraday high of $14.71 and closed at $14.11. The company has a market cap of $8.37B and a 16.24 price-to-earnings ratio.

Quarterly results

The company last posted its earnings for the quarter on 8 August. NVDA reported earnings per share of $0.23 which topped the average analyst projection of $0.13. For the quarter, the company had revenue of $977.20M in comparison to the average analyst estimate of $976.43 million. In the same quarter in 2012, NVDA posted earnings per share of $0.27.

Its revenue dropped 6.4% on a y-o-y basis. The average analyst projection is that, for the current financial year, NVIDIA Corporation (NASDAQ:NVDA) will post earnings per share of $0.73. Very recently, the company also announced its quarterly dividend. This is scheduled for 13 September 2013.

About Lacee Page

Lacee Page is our White House and political campaign reporter. Lacee also covers justice and national law enforcement issues and congressional reporter focusing on the outputs of the legislative process: government spending, agency regulation and congressional oversight. Lacee received a national Edward R. Murrow for spot news award and the regional Associated Press award for best newscast. Lacee attended Riverview High School near Coshocton, and graduated from Ashland College in Ashland, Ohio with a Bachelor of Arts degree in Communications.

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