Nvidia beats Q3 expectations as data center sales climbs

Overpriced Stock: NVIDIA Corporation (NASDAQ:NVDA) Overvalued by -21.5%

As shares fly 6% today amid enthusiastic investor sentiment post-print, the analyst may be sidelined simply waiting for better value to buy into the semiconductor stock, but he is quite optimistic on Nvidia. The stock of NVIDIA Corporation (NASDAQ:NVDA) has "Neutral" rating given on Tuesday, September 20 by SunTrust. They now have a buy rating on the computer hardware maker's stock.

Several other research firms have also issued reports on RPXC.

NVIDIA Corporation (NASDAQ:NVDA) had its target price hoisted by stock analysts at Deutsche Bank AG from $145.00 to $190.00 in a report issued on Wednesday. The firm has "Buy" rating by Needham given on Friday, August 11.

The strength in Nvidia's data center in the third quarter comes after a disappointing showing in the previous quarter and on the heels of rival Intel Corp showcasing its strength in the same market two weeks back. Zacks Investment Research raised shares of NVIDIA Corporation from a "hold" rating to a "strong-buy" rating and set a $169.00 price target for the company in a report on Tuesday, July 11th.

Among 3 analysts covering RPX Corporation (NASDAQ:RPXC), 1 have Buy rating, 1 Sell and 1 Hold. RPX Corporation presently has a consensus rating of Hold and an average price target of $14.00. NVIDIA Corporation has a 1-year low of $66.76 and a 1-year high of $212.90. The company has market cap of $123.19 billion. NVDA now has a profit margin of 27.40%. While crypto is far from a core offering of NVDA's, the situation is worth monitoring in coming quarters, because if demand continues to wane, so too will expectations for crypto's contribution to the company's future earnings. The computer hardware maker reported $0.94 EPS for the quarter, topping analysts' consensus estimates of $0.57 by $0.37. The business had revenue of $2.64 billion for the quarter, compared to analyst estimates of $2.36 billion.

Datacenter revenue came to $501 million for the quarter, up from $240 million a year prior. A year prior, the company posted non-GAAP earnings of 83 cents per share on revenue of $2 billion.

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Nvidia expects fourth-quarter sales to be in the range of $2.65 billion. If you are viewing this article on another domain, it was illegally stolen and reposted in violation of US and global copyright & trademark law. The correct version of this piece can be viewed at https://stocknewstimes.com/2017/11/10/nvidia-corporation-nvda-holdings-trimmed-by-wespac-advisors-socal-llc.html.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 15th. Stockholders of record on Friday, November 24th will be given a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a dividend yield of 0.29%.

Nvidia Corporation focuses on personal computer (PC) graphics, graphics processing unit (GPU) and also on artificial intelligence (AI). "(AAL) Ex-Dividend Date Scheduled for November 10 ..." on November 09, 2017. NVIDIA Corporation's dividend payout ratio is 15.86%.

In other NVIDIA Corporation news, insider Jen Hsun Huang sold 110,000 shares of NVIDIA Corporation stock in a transaction dated Wednesday, September 6th. About 24.38 million shares traded or 87.97% up from the average. The return on assets stands at 23.9%, Return on Equity now is 39.4% and the Return on Investment value is 19.8%. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Puri Ajay K sold 81,931 shares worth $11.46M. SWANK STEVEN S sold $21,623 worth of stock. The Southpoint Capital Advisors Lp holds 2.35 million shares with $70.08 million value, down from 3.00M last quarter. The disclosure for this sale can be found here. Company insiders own 5.82% of the company's stock.

A number of hedge funds have recently made changes to their positions in the stock.

Lmm Llc decreased its stake in American Airls Group Inc (AAL) by 2.61% based on its latest 2017Q2 regulatory filing with the SEC. Vanguard Group Inc. now owns 3,823,451 shares of the business services provider's stock worth $45,881,000 after purchasing an additional 167,421 shares in the last quarter. Massachusetts Financial Services Co. NVIDIA Corporation's institutional ownership is 67.9%, while its institutional transactions stand at -0.12%. The stock has "Hold" rating by Piper Jaffray on Friday, July 28. BlackRock Institutional Trust Company N.A. now owns 13,714,909 shares of the computer hardware maker's stock valued at $939,746,000 after buying an additional 414,290 shares during the period. Proficio Capital Partners LLC lifted its holdings in shares of NVIDIA Corporation by 186.1% during the first quarter. Proficio Capital Partners LLC grew its holdings in shares of NVIDIA Corporation by 186.1% in the first quarter. Following the sale, the director now owns 16,507 shares of the company's stock, valued at $2,809,326.33.

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