Notable Mover: Could NVIDIA Corporation Change Direction After Achieving All Time High?

Notable Mover: Could NVIDIA Corporation Change Direction After Achieving All Time High?

The stock of NVIDIA Corporation (NASDAQ:NVDA) reached all time high today, Nov, 24 and still has $99.61 target or 6.00% above today’s $93.97 share price. This indicates more upside for the $50.64B company. This technical setup was reported by Barchart.com. If the $99.61 PT is reached, the company will be worth $3.04 billion more.
Trading stocks at an all time highs is usually a winning strategy. An all time high points to a stock which has the most positive fundamentals ever. Even thought the pullback rate is high, if correct risk management is utilized, investors can trade very well such events. The stock increased 0.49% or $0.46 on November 23, hitting $93.97. About 11.08M shares traded hands. NVIDIA Corporation (NASDAQ:NVDA) has risen 159.08% since April 22, 2016 and is uptrending. It has outperformed by 153.68% the S&P500.

Analysts await NVIDIA Corporation (NASDAQ:NVDA) to report earnings on February, 15. They expect $0.86 EPS, up 145.71% or $0.51 from last year’s $0.35 per share. NVDA’s profit will be $463.45M for 27.32 P/E if the $0.86 EPS becomes a reality. After $0.83 actual EPS reported by NVIDIA Corporation for the previous quarter, Wall Street now forecasts 3.61% EPS growth.

NVIDIA Corporation (NASDAQ:NVDA) Ratings Coverage

Out of 29 analysts covering Nvidia Corporation (NASDAQ:NVDA), 18 rate it a “Buy”, 1 “Sell”, while 10 “Hold”. This means 62% are positive. Nvidia Corporation has been the topic of 84 analyst reports since August 3, 2015 according to StockzIntelligence Inc. The firm has “Neutral” rating by TH Capital given on Friday, November 6. TH Capital upgraded NVIDIA Corporation (NASDAQ:NVDA) rating on Friday, August 7. TH Capital has “Neutral” rating and $25.0 price target. The company was upgraded on Friday, August 12 by RBC Capital Markets. The stock has “Hold” rating given by Deutsche Bank on Wednesday, April 6. The stock has “Buy” rating given by Nomura on Monday, June 13. As per Friday, March 18, the company rating was initiated by Argus Research. On Friday, August 12 the stock rating was maintained by UBS with “Buy”. Deutsche Bank maintained the shares of NVDA in a report on Friday, August 12 with “Hold” rating. Wedbush maintained it with “Outperform” rating and $30 target price in Friday, February 12 report. As per Tuesday, September 20, the company rating was initiated by SunTrust.

According to Zacks Investment Research, “NVIDIA Corporation designs, develops and markets a top-to-bottom family of award-winning 3D graphics processors, graphics processing units and related software that set the standard for performance, quality and features for every type of desktop personal computer user, from professional workstations to low-cost computers. NVIDIA Corporation’s 3D graphics processors are used in a wide variety of applications, including games, the Internet and industrial design.”

Insitutional Activity: The institutional sentiment increased to 1.12 in 2016 Q2. Its up 0.10, from 1.02 in 2016Q1. The ratio is positive, as 45 funds sold all NVIDIA Corporation shares owned while 245 reduced positions. 117 funds bought stakes while 178 increased positions. They now own 449.32 million shares or 5.27% less from 474.31 million shares in 2016Q1.
Aberdeen Asset Public Limited Uk reported 585,801 shares or 0.1% of all its holdings. Pub Employees Retirement Association Of Colorado holds 115,443 shares or 0.04% of its portfolio. Qs Invsts Limited Liability Co reported 311,509 shares or 0.12% of all its holdings. Bridgeway Capital Incorporated has invested 0.61% of its portfolio in NVIDIA Corporation (NASDAQ:NVDA). Pioneer Invest Mngmt owns 1.49M shares or 0.25% of their US portfolio. Putnam Invs Ltd has 0.22% invested in the company for 1.90M shares. Wells Fargo Mn has invested 0.05% of its portfolio in NVIDIA Corporation (NASDAQ:NVDA). Blackrock Japan Ltd last reported 0.12% of its portfolio in the stock. Cornerstone Cap Mgmt Ltd Com reported 284,320 shares or 0.11% of all its holdings. Parkside Fin Retail Bank And Tru, a Missouri-based fund reported 135 shares. Moreover, Scotia Capital has 0.05% invested in NVIDIA Corporation (NASDAQ:NVDA) for 52,127 shares. Next Century Growth Investors Limited Liability has 0.02% invested in the company for 9,009 shares. Central Asset Invests And Mngmt (Hk) Ltd holds 29,000 shares or 1.35% of its portfolio. Moreover, Allsquare Wealth Mgmt Lc has 0% invested in NVIDIA Corporation (NASDAQ:NVDA) for 100 shares. Mitsubishi Ufj Tru & Banking Corp holds 1.88 million shares or 0.19% of its portfolio.

Insider Transactions: Since August 10, 2016, the stock had 0 insider purchases, and 15 insider sales for $46.42 million net activity. On Monday, September 19 the insider COXE TENCH sold $5.60M. Shares for $2.75 million were sold by HUANG JEN HSUN. $1.88M worth of shares were sold by SEAWELL A BROOKE on Friday, September 16. On Monday, August 15 the insider Shoquist Debora sold $2.24M. Drell Persis sold 2,361 shares worth $157,200. Kress Colette sold 38,039 shares worth $2.37 million. GAITHER JAMES C sold $3.23 million worth of stock.

More notable recent NVIDIA Corporation (NASDAQ:NVDA) news were published by: Fool.com which released: “NVIDIA Corporation CEO Talks Up Nintendo Partnership” on November 21, 2016, also Fool.com with their article: “NVIDIA Corporation’s Biggest Business Surged 63% Last Quarter” published on November 20, 2016, Fool.com published: “Why NVIDIA Corporation’s Data-Center Business Surged 193% Last Quarter” on November 19, 2016. More interesting news about NVIDIA Corporation (NASDAQ:NVDA) were released by: Fool.com and their article: “3 Things NVIDIA Corporation’s Management Wants You to Know” published on November 15, 2016 as well as Fool.com‘s news article titled: “NVIDIA Corporation Delivers Blowout Earnings Results” with publication date: November 11, 2016.

NVDA Company Profile

NVIDIA Corporation (NVIDIA), incorporated on February 24, 1998, is engaged in visual computing. The Firm operates through divisions, including GPU and Tegra Processor. The Firm allows to open up new avenues of exploration, facilitate creativity and discovery, and power breakthroughs in areas like artificial intelligence, virtual reality and autonomous cars. It focuses on markets, such as gaming, professional visualization, datacenter and automotive. The Company’s vertical integration enables to bring together hardware, system software, programmable algorithms, systems and services.

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