Nvidia reports sequential growths in sales and profits for fiscal 2Q20

Nvidia revenue tops expectations on strength in video gaming auto units

Nvidia generated revenue of $1.31 billion from its gaming business, down 27% on a year-over-year basis but above analysts' estimates of $1.3 billion. The firm owned 17,769 shares of the computer hardware maker's stock after acquiring an additional 1,400 shares during the period. Deltec Asset Management LLC acquired a new stake in NVIDIA during the 2nd quarter valued at approximately $452,000. Jennison Associates LLC boosted its holdings in shares of NVIDIA by 10.6% in the 1st quarter. Insiders have sold 104,736 shares of company stock worth $15,293,726 over the last quarter.

Checking up on shares of NVIDIA Corporation (NASDAQ:NVDA), we have noted that the average price target is now 192.88.

Other hedge funds have also modified their holdings of the company. Bancorp Of America De reported 0.24% of its portfolio in NVIDIA Corporation (NASDAQ:NVDA). The company has a debt-to-equity ratio of 0.25, a current ratio of 8.98 and a quick ratio of 7.78. Nvidia's forecast would represent a 9% decline year-over-year. Switching to the 50-day moving average vs price signal, the reading is measured at Sell.

Nvidia Q2 earnings and revenues beat Wall Street estimates, despite dropping from a year before, driven by better-than-expected gaming and automotive chip business. That compared to earnings per share of $1.76 on revenue of $3.12 billion in the same period a year earlier.

Nvidia expects third-quarter revenue to be $2.9 billion, which is below the $2.97 billion analysts expected. During the same period previous year, the company posted $1.94 EPS. For the first half of the financial year, however, and we see a 26 per cent dip in revenue from $909m for the six months ending July 29th, 2018, compared to $673m for the two quarters ending July 28th, 2019. It also saw positive growth in the data center business, albeit by only 3%. NVIDIA's dividend payout ratio is now 10.54%.

NVDA has been the topic of a number of research reports.

Investors may be taking a closer look at shares of NVIDIA Corporation (NASDAQ:NVDA). They set an "outperform" rating and a $184.00 target price on the stock. Rosenblatt Securities reaffirmed a "buy" rating and issued a $180.00 target price on shares of NVIDIA in a research report on Friday. The firm has "Equal-Weight" rating given on Monday, May 13 by Morgan Stanley. $181.48's average target is 13.74% above currents $159.56 stock price. Sell-side analysts often put in a lot of time trying to evaluate the inner workings of a company. Gateway Investment Advisers Llc bought 31,867 shares as the company's stock declined 6.51%. Three months ago, although it topped expectations, the company's stock ended up falling after Chief Executive Officer Jensen Huang (pictured) warned of a slowdown in data center chip sales that might impact revenues. The shares were sold at an average price of $166.80, for a total value of $417,000.00.

Beck Capital Limited Liability Company owns 29,100 shares. The disclosure for this sale can be found here. With 11.19 million shares average volume, it will take short sellers 1 days to cover their NVDA's short positions.

Nvidia is a leading designer of graphics chips that enhance the experience on computing platforms. But RTX capable GPUs only exist in the upper-mid to the higher end of the market and most people buying graphics cards in that range are enthusiasts who tend to upgrade their GPUs often which makes the point of owning an RTX GPU for future-proofing kind of moot.

Related News:

  • El Paso police seek identity of hero in Walmart attack

    El Paso police seek identity of hero in Walmart attack

    Walmart is Vista Outdoor's largest customer, making up 14% of Vista's $2 billion in sales in 2019. But a growing chorus of lawmakers and gun control advocates says that Walmart can do much more.
    Turkish drones start operating in northern Syria amid safe zone preparations: ministry

    Turkish drones start operating in northern Syria amid safe zone preparations: ministry

    Turkey and USA have been at odds over Washington backing the PYD/YPG-dominated SDF militia in a battle against Daesh in Syria. A six-member US delegation arrived in Sanliurfa on Monday for the preliminary preparations for the center's establishment.
    Warm and a bit unsettled before better weather late next week

    Warm and a bit unsettled before better weather late next week

    Lower 80s on Wednesday will turn into the upper 70s come Thursday as more prominent dry weather finally returns. We've made it to another weekend, although this doesn't really mean a change in our weather pattern at all.
  • Turkish army pension fund in rescue talks with British Steel

    Turkish army pension fund in rescue talks with British Steel

    The Turkish Armed Forces Assistance Fund known as Oyak has entered exclusive talks with the UK Government to buy British Steel . OYAK was set up in 1961, a year after the first military coup in modern Turkey , and has nearly 363,000 members.
    Reporter ID'd in New Orleans Small Plane Crash

    Reporter ID'd in New Orleans Small Plane Crash

    Tributes to Parker - from fellow journalists, politicians, athletes and actors alike - poured in after news of her death broke. We mourn the loss of our longtime colleague and friend Nancy Parker.http://bit.ly/RememberingNancy Details have not...
    5 killed, 15 injured in blast in Pakistan's Quetta

    5 killed, 15 injured in blast in Pakistan's Quetta

    There was no immediate claim for the deadly blast, but Pakistani armed groups have been blamed for such attacks in the past. The attack occurred almost three months after a similar deadly bombing at a mosque in Quetta , also during Friday prayers.
  • Need for Speed: Heat won't have loot boxes - not now, not ever

    Need for Speed: Heat won't have loot boxes - not now, not ever

    The micro-transaction will be what it described as a "time-save" pack, which will display all the collectibles on the map. What we do know is that Need for Speed: Heat won't have loot boxes, and that much is certainly good news to us.
    Google removes 85 apps from Play Store after finding adware inside them

    Google removes 85 apps from Play Store after finding adware inside them

    The researchers at TrendMicro discovered that the deceitful apps would sit dormant for at least 30 minutes after the installation. Once the time had passed, the app would hide its app icon from the app drawer, and create a shortcut on the device's home screen.
    Gov't says 611397 new jobs created between 2017 and 2018

    Gov't says 611397 new jobs created between 2017 and 2018

    In this period, the Akufo-Addo government has touted some achievements and one of the most trumpeted has been job creation. Although the unemployment rate in the country is still staggering, the government claims to have created a lot of jobs.
  • Raiders' Antonio Brown denies he planned to quit over helmet fiasco

    Raiders' Antonio Brown denies he planned to quit over helmet fiasco

    Brown was away seeking treatment on the soles of his feet, which he injured in a cryotherapy mishap in France early last month. In a statement to ESPN, Tedeschi said, "I've cooked for countless National Football League superstars and celebrities".
    Fears of many deaths after bomb explodes at Kabul wedding

    Fears of many deaths after bomb explodes at Kabul wedding

    US President Donald Trump has made no secret of his desire for a US pullout from Afghanistan and an end to America's longest war. While the Taliban is the obvious candidate to have carried out the attack, the group has not released any statements yet.
    Rogers Cup: Andrey Rublev stuns Roger Federer

    Rogers Cup: Andrey Rublev stuns Roger Federer

    However, Rublev turned the tables, overcoming Federer 6-3, 6-4 in just 62 minutes - the Swiss' quickest loss since 2003. Uncharacteristically, Federer was broken twice to open the match and the tone for the rest of the match was set.

Most liked

Former Texas Running Back Cedric Benson Dies in Motorcycle Accident at 36
The Statesman reports that was the third such incident in Austin alone since 2008, though the prior two were eventually dismissed. Benson played 35 games in three seasons with the Bears, amassing 1,593 rushing yards and 10 touchdowns.

Philadelphia Phillies: Does sweeping the Cubs signify a Wild Card push?
The Cubs took a 5-0 lead into the eighth inning, but unfortunately for them, their bullpen has been extremely shaky this season. Mallex Smith had three hits, a run, an RBI and two stolen bases, while Austin Nola supplied three hits and an RBI for Seattle.

Top 10 Biggest Risks in WeWork are Revealed
Rumors have been circulating for a while that WeWork was getting ready to file for its IPO and this week, it finally happened. The rash of companies going public has come within the context of a almost decade-long run without a major global recession.

Josh McCown agrees to contract with Philadelphia Eagles
The group of active Philadelphia quarterbacks now includes rookie Clayton Thorson , McCown and starter Carson Wentz . The Eagles have dealt with injuries to their backup quarterbacks this preseason, leading to the signing of McCown.

Two more states report severe vaping lung injury: What you should know
The patients in Wisconsin include older individuals in addition to teens, the Wisconsin Department of Health Services reported. What's more, some of the teens may have purchased vaping products off the street rather than in shops, according to NBC News.

Dozens killed during wedding celebrations in Afghanistan
There was no immediate claim of responsibility for the blast, which went off in the reception area of a west Kabul wedding hall. The European Union mission in Afghanistan condemned the blast saying those behind it were "enemies of humanity".

Portland 'ground zero' for protests between right, left-wing
Organizer Joe Biggs told the paper that the demonstrators "wanted national attention and we got it". At a June rally in Portland, masked antifa members beat up a conservative blogger named Andy Ngo .

Meghan Markle Makes 'Suits' Return In Cheeky Way You'd Never Expect
The TV show's official Twitter account continued the gag by tweeting: "Turns out Rachel is doing REALLY well". And, when Mike returned at the beginning of series nine, he was asked how Rachel was getting on.

Another Remainer Offers to Depose Boris Johnson to Stop No-Deal Brexit
The Liberal Democrats and senior Tories have rejected his proposal, however it won the potential backing of the SNP, Plaid Cymru and Tory MP Guto Bebb.

LaLiga match report Athletic Bilbao v Barcelona
However, the Uruguayan forward could not continue the game after suffering a knock, with Rafinha stepping in as his replacement. Meanwhile Barca and Bayern Munich have reached agreement for the transfer of Philippe Coutinho to the Bundesliga team.

Stocks move higher to end turbulent week
General Electric rebounded 6.7% after reporting late Thursday that its CEO had bought 250,000 shares of GE stock. Stocks fell sharply Wednesday after a fairly reliable warning signal of recession emerged from the bond market.

Rodgers held out of preseason game with back tightness
It's clear that the criticism is starting to get to him which is understandable when you're a player at such a high level. If I am not passing, if I do decide to run, I am trying to score a touchdown or get a first down.

Hickenlooper expected to end 2020 run Thursday - Newswatch
Despite identifying with the Democratic Party's comparatively more moderate wing, Hickenlooper also expressed sympathy for Rep. He spent much of the evening pushing back on liberal policy ideas like "Medicare for All" and the Green New Deal .

VAR denies Man City again against Spurs
Aguero had earlier put City 2-1 up against Tottenham after Raheem Sterling's opener had been cancelled out by Erik Lamela . Tottenham created two chances and nothing else but unfortunately for us they scored them both.

Moto's Latest Phone Has a Genius Solution for Preventing Vertical Video Syndrome
The Motorola One Action sports a 6.3-inch IPS LCD display with fullHD+ resolution of 1080pixels and an awesome 21:9 aspect ratio. As the first ultra-wide action camera in a phone, it allows users to hold their device vertically to record horizontal videos.