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.

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