NVIDIA (NASDAQ:NVDA) Posts Quarterly Earnings Results, Beats Estimates By $0.07 EPS

NVIDIA (NASDAQ:NVDAGet Rating) released its quarterly earnings data on Wednesday. The computer hardware maker reported $1.36 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.29 by $0.07, MarketWatch Earnings reports. The company had revenue of $8.29 billion during the quarter, compared to the consensus estimate of $8.09 billion. NVIDIA had a net margin of 36.24% and a return on equity of 42.99%. NVIDIA’s revenue for the quarter was up 46.4% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.78 earnings per share. NVIDIA updated its Q2 2023 guidance to EPS.

NVIDIA stock traded up $8.21 during trading hours on Wednesday, reaching $169.75. 77,465,048 shares of the company’s stock were exchanged, compared to its average volume of 55,507,867. The firm’s 50 day simple moving average is $215.65 and its 200 day simple moving average is $252.17. NVIDIA has a twelve month low of $154.60 and a twelve month high of $346.47. The firm has a market capitalization of $494.44 billion, a PE ratio of 44.12, a PEG ratio of 2.16 and a beta of 1.59. The company has a quick ratio of 6.05, a current ratio of 6.65 and a debt-to-equity ratio of 0.41.

The firm also recently announced a quarterly dividend, which will be paid on Friday, July 1st. Shareholders of record on Thursday, June 9th will be issued a dividend of $0.04 per share. This represents a $0.16 dividend on an annualized basis and a yield of 0.09%. NVIDIA’s payout ratio is 4.16%.

A number of research analysts have commented on NVDA shares. Mizuho boosted their price objective on NVIDIA from $335.00 to $345.00 and gave the stock a “buy” rating in a research note on Thursday, February 17th. New Street Research upgraded NVIDIA from a “neutral” rating to a “buy” rating and set a $280.00 price target on the stock in a report on Wednesday, April 13th. StockNews.com started coverage on shares of NVIDIA in a report on Thursday, March 31st. They set a “hold” rating for the company. Deutsche Bank Aktiengesellschaft cut their price target on NVIDIA from $285.00 to $255.00 and set a “hold” rating on the stock in a report on Wednesday, April 20th. Finally, UBS Group decreased their price objective on NVIDIA from $350.00 to $280.00 and set a “buy” rating on the stock in a report on Monday. Eight analysts have rated the stock with a hold rating, twenty-five have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, NVIDIA currently has a consensus rating of “Buy” and an average price target of $306.79.

In other news, CEO Jen Hsun Huang sold 292,340 shares of the stock in a transaction dated Tuesday, March 1st. The shares were sold at an average price of $237.12, for a total transaction of $69,319,660.80. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Mark L. Perry sold 16,716 shares of the business’s stock in a transaction dated Friday, March 18th. The shares were sold at an average price of $263.80, for a total transaction of $4,409,680.80. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 409,056 shares of company stock valued at $101,135,342. Corporate insiders own 4.47% of the company’s stock.

Several hedge funds have recently modified their holdings of the company. Keudell Morrison Wealth Management lifted its position in shares of NVIDIA by 305.2% in the third quarter. Keudell Morrison Wealth Management now owns 2,273 shares of the computer hardware maker’s stock worth $471,000 after buying an additional 1,712 shares in the last quarter. OLD Mission Capital LLC purchased a new position in shares of NVIDIA during the third quarter valued at approximately $293,000. Aspire Capital Advisors LLC purchased a new position in shares of NVIDIA during the first quarter worth approximately $453,000. KC Investment Advisors LLC raised its position in shares of NVIDIA by 7.8% in the 1st quarter. KC Investment Advisors LLC now owns 1,598 shares of the computer hardware maker’s stock worth $436,000 after acquiring an additional 116 shares in the last quarter. Finally, Autumn Glory Partners LLC acquired a new stake in shares of NVIDIA in the 4th quarter worth $433,000. 55.19% of the stock is owned by hedge funds and other institutional investors.

About NVIDIA (Get Rating)

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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