NVIDIA Corporation Q3 Income Climbs 16%

Nvidia shares have risen 38 percent since the beginning of the year, while the Standard & Poor’s 500 index has climbed 2 percent. The stock was sold at an average price of $23.79, for a total value of $644,161.83.

“Expensive and worth it”, read the headline on the note penned by analyst Ian Ing, who earlier this week had cautioned investors on the stock’s valuation. The shares were sold at an average price of $23.82, for a total transaction of $712,289.46.

The analyst firm’s note comes after NVIDIA beat estimates for earnings and revenue in the third quarter of fiscal 2016. Research Analysts at Zacks have ranked the company at 3, suggesting the traders with a rating of hold for the short term. The 50-Day Moving Average price is $25.77 and the 200 Day Moving Average price is recorded at $22.53. Finally, Roth Capital boosted their price objective on NVIDIA from $26.00 to $30.00 and gave the company a neutral rating in a research report on Friday.

NVIDIA (NASDAQ:NVDA) traded up 13.623% during midday trading on Friday, hitting $31.485. NVIDIA has a 52 week low of $18.94 and a 52 week high of $31.94. This was higher than $220 million, or $0.39 per share, in last year’s third quarter. Nasdaq 100 futures NQZ5, +0.11% inched up by 1 point, or less than 0.1%, to 4,696.25. The company has a market cap of $14,936 million and the number of outstanding shares have been calculated to be 539,000,000 shares. Following the completion of the sale, the insider now owns 140,007 shares in the company, valued at approximately $3,500,175. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link.

Other equities research analysts have also recently issued reports about the stock. Revenue for the quarter came in at $1.31 billion versus the consensus estimate of $1.18 billion. The company’s shares are trading above their 50-day and 200-day moving averages by 10.69% and 24.56%, respectively. The disclosure for this sale can be found here.

NVIDIA Corporation (NASDAQ:NVDA) is engaged in visual computing, enabling people to connect to data, digital thoughts and amusement. The Company is engaged in creating NVIDIA-branded merchandise and services, offering its processors to original equipment manufacturers (OEMs), and licensing its intellectual property. The Company operates in two segments: Graphics Processing Unit (GPU) and Tegra Processor. It has three GPU product brands: GeForce, Quadro and Tesla. The organization ‘s Tegra processors are mainly made to enable its branded platforms: DRIVE and SHIELD.