Jefferies expects cryptocurrency demand to continue for Nvidia, AMD

Jefferies expects cryptocurrency demand to continue for Nvidia, AMD”

NVIDIA Corporation accounts for 1.6% of Svenska Handelsbanken AB publ's portfolio, making the stock its 26th largest position.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in NVDA. TB Alternative Assets Ltd. bought a new position in NVIDIA Corporation in the second quarter valued at about $116,000. West Oak Capital LLC now owns 1,560 shares of the computer hardware maker's stock valued at $107,000 after buying an additional 1,010 shares during the period. Stephens Inc. AR now owns 1,926 shares of the computer hardware maker's stock valued at $132,000 after buying an additional 179 shares during the period. Coconut Grove Bank grew its holdings in shares of NVIDIA Corporation by 683.9% during the first quarter. Broderick Brian C now owns 13,806 shares of the computer hardware maker's stock valued at $1,996,000 after acquiring an additional 52 shares during the period. Miles Capital Inc. now owns 3,919 shares of the computer hardware maker's stock valued at $427,000 after acquiring an additional 41 shares during the period.

Institutional owners hold 67.90% stake while Insiders ownership held at 0.60% in the company. That puts the market capitalization at $2.39 bln. Stock's distance from 52 week High is -3.19% and the distance from 52 week Low is 194.86%. It has been assigned a low target price of $39.5 and a high target price of $50.

Over the past five trading sessions shares of NVIDIA Corporation (NASDAQ:NVDA) are -0.86%; 2.59% for the month; 12.69% for the last quarter; 65.93% for the past six-months; and 183.94% for the last 12 months. The computer hardware maker reported $1.01 EPS for the quarter, beating the Thomson Reuters' consensus estimate of $0.69 by $0.32. The business had revenue of $2.23 billion for the quarter, compared to analyst estimates of $1.96 billion. The firm's revenue was up 53.6% compared to the same quarter previous year. During the same quarter in the prior year, the company posted $0.53 EPS. Equities research analysts predict that NVIDIA Corporation will post $3.61 EPS for the current fiscal year. Also, Director Tench Coxe sold 50,000 shares of the stock in a transaction dated Tuesday, December 27th. This represents a $0.56 dividend on an annualized basis and a dividend yield of 0.33%. NVIDIA Corporation's dividend payout ratio (DPR) is presently 15.86%.

Nvidia and AMD are the best-performing stocks over the past year. The stock was sold at an average price of $170.19, for a total value of $5,105,700.00. The company has 610.59 Million shares outstanding and 572.93 Million shares were floated in market. The transaction related to this sale was declared in a document with the SEC which is available through this link. Also, insider Jen Hsun Huang sold 110,000 shares of the stock in a transaction that occurred on Wednesday, September 6th. The disclosure for this sale can be found here. Following the transaction, the director now directly owns 30,762 shares in the company, valued at approximately $4,900,694.22. Corporate insiders own 5.17% of the company's stock.

COPYRIGHT VIOLATION NOTICE: This piece was published by StockNewsTimes and is the sole property of of StockNewsTimes. If you are reading this report on another website, it was copied illegally and reposted in violation of USA & global trademark & copyright laws. The legal version of this article can be read at Rakesh has "Buy" ratings on both Nvidia and AMD, with $180 and $17 price targets respectively. Research firm Zacks lifted NVIDIA Corporation from a "hold" recommendation to a "strong-buy" recommendation and fixed a $169.00 price objective on the company shares in a study note on early Tue, Jul 11th. NVIDIA Corporation has a consensus rating of "Buy" and an average target price of $87.61. Two equities research analysts have rated the stock with a sell rating, thirteen have issued a hold rating, twenty-one have given a buy rating and four have given a strong buy rating to the stock. After outperforming the broader markets by a significant margin up to the start of this month, NVIDIA stock has lost 0.3% this month, underperforming the Nasdaq Composite (INDEX:COMPX), which is up marginally with a 0.1% return over the same timeframe.

NVDA's graphics-chip technology remains in high demand for computers, smart phones, gaming consoles and a variety of artificial intelligence (AI) applications, which should continue to boost the company's revenue and earnings growth. The Company operates through segments, including GPU and Tegra Processor.

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