Silphium Asset Management Ltd Sells 3,010 Shares of NVIDIA Corporation (NASDAQ:NVDA)

Key Points

• Silphium Asset Management Ltd reduced its stake in NVIDIA Corporation by 8.1% during the first quarter, selling 3,010 shares and now holding 34,037 shares valued at approximately $3.69 million.
• Recent analyst ratings for NVIDIA show a consensus of "Moderate Buy" with an average price target of $182.03, reflecting optimism from multiple firms despite a recent 2.3% drop in stock price.
• NVIDIA reported $0.81 EPS for the last quarter, missing expectations, but saw a significant increase in revenue, up 69.2% year-over-year, totaling $44.06 billion.

Silphium Asset Management Ltd cut its position in NVIDIA Corporation (NASDAQ:NVDA - Free Report) by 8.1% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 34,037 shares of the computer hardware maker's stock after selling 3,010 shares during the quarter. NVIDIA comprises about 3.0% of Silphium Asset Management Ltd's portfolio, making the stock its 15th biggest holding. Silphium Asset Management Ltd's holdings in NVIDIA were worth $3,689,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Tacita Capital Inc bought a new stake in NVIDIA in the 4th quarter valued at $28,000. Vision Financial Markets LLC bought a new stake in NVIDIA in the 4th quarter valued at $38,000. Copia Wealth Management bought a new stake in NVIDIA in the 4th quarter valued at $50,000. Barnes Dennig Private Wealth Management LLC bought a new stake in NVIDIA in the 1st quarter valued at $51,000. Finally, Bruce G. Allen Investments LLC boosted its stake in NVIDIA by 198.2% in the 1st quarter. Bruce G. Allen Investments LLC now owns 492 shares of the computer hardware maker's stock valued at $53,000 after purchasing an additional 327 shares during the period. 65.27% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

NVDA has been the subject of a number of recent analyst reports. Benchmark reiterated a "buy" rating and set a $190.00 target price on shares of NVIDIA in a research report on Thursday, May 29th. Truist Financial upped their target price on NVIDIA from $205.00 to $210.00 and gave the company a "buy" rating in a research report on Thursday, May 29th. Barclays upped their target price on NVIDIA from $170.00 to $200.00 and gave the company an "overweight" rating in a research report on Tuesday, June 17th. Seaport Res Ptn upgraded NVIDIA to a "strong sell" rating in a research report on Wednesday, April 30th. Finally, Piper Sandler reiterated an "overweight" rating and set a $180.00 target price (up from $150.00) on shares of NVIDIA in a research report on Wednesday, May 28th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating, thirty-three have given a buy rating and four have given a strong buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $182.03.

NVIDIA Stock Down 2.3%

Shares of NVIDIA stock opened at $173.72 on Monday. NVIDIA Corporation has a one year low of $86.62 and a one year high of $183.30. The company has a debt-to-equity ratio of 0.10, a current ratio of 3.39 and a quick ratio of 2.96. The stock's 50-day moving average is $155.30 and its 200 day moving average is $132.28. The firm has a market cap of $4.24 trillion, a price-to-earnings ratio of 56.04, a PEG ratio of 1.53 and a beta of 2.14.

NVIDIA (NASDAQ:NVDA - Get Free Report) last announced its earnings results on Wednesday, May 28th. The computer hardware maker reported $0.81 EPS for the quarter, missing the consensus estimate of $0.87 by ($0.06). NVIDIA had a net margin of 51.69% and a return on equity of 105.09%. The business had revenue of $44.06 billion for the quarter, compared to the consensus estimate of $43.09 billion. During the same quarter in the previous year, the company earned $0.61 EPS. The firm's revenue for the quarter was up 69.2% on a year-over-year basis. Equities research analysts anticipate that NVIDIA Corporation will post 2.77 EPS for the current year.

NVIDIA Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, July 3rd. Investors of record on Wednesday, June 11th were given a dividend of $0.01 per share. The ex-dividend date was Wednesday, June 11th. This represents a $0.04 annualized dividend and a dividend yield of 0.0%. NVIDIA's dividend payout ratio is presently 1.29%.

Insider Activity at NVIDIA

In other NVIDIA news, CFO Colette Kress sold 27,650 shares of the stock in a transaction that occurred on Tuesday, July 15th. The stock was sold at an average price of $170.89, for a total value of $4,725,108.50. Following the transaction, the chief financial officer owned 2,984,516 shares in the company, valued at approximately $510,023,939.24. This represents a 0.92% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Jen Hsun Huang sold 75,000 shares of the stock in a transaction that occurred on Wednesday, July 30th. The stock was sold at an average price of $178.74, for a total value of $13,405,500.00. Following the completion of the transaction, the chief executive officer owned 73,748,225 shares in the company, valued at approximately $13,181,757,736.50. The trade was a 0.10% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 5,339,800 shares of company stock worth $800,141,003 in the last 90 days. Corporate insiders own 4.17% of the company's stock.

NVIDIA Profile

NVIDIA Corporation provides graphics and compute and networking solutions in the United States, Taiwan, China, Hong Kong, and internationally. The 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; virtual GPU or vGPU software for cloud-based visual and virtual computing; automotive platforms for infotainment systems; and Omniverse software for building and operating metaverse and 3D internet applications.

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