On the last session, shares of NVIDIA Corporation rose 5.59% in trading session and finally closed at $63.04. The company’s most recent volume stood at 35.64 million shares, almost 3x more than the average volume of 10.71 million shares. Over the one year trading period, the stock has a high price of $63.38 and its low price is recorded at $20. The company has a market cap of $33.66 billion.
The semiconductor company has been tearing it up, as shares have improved by more than 140% in just a year. The chart for NVIDIA has gone parabolic, going from $35 to almost $60 in the last four months, and the stock is setting all-time highs seemingly every day. It opened the year at $32.17, reached the highs of $32.57 and lows of $32.11 before closing at $32.18. Although it went down for a while after that, the company managed to pull itself up starting in February. There had been long upward rallies since then and NVIDIA is presently at the highest stock price it’s had since January.
According to co-founder and chief executive officer of NVIDIA, Jen-Hsun Huang, the strong demand for their new Pascal-generation GPUs and surging interest in deep learning drove record results. Their strategy to focus on creating the future where graphics , computer vision and artificial intelligence converge is fueling growth across their specialized platforms—gaming, pro visualization, datacenter and automotive.
NVIDIA Corporation has just recently publicized its earnings report on August 11. The company has reported the revenue for second quarter at $1.43 billion, up 9% from $1.30 billion in the previous quarter and 24% from $1.15 billion a year earlier.
GAAP earnings per diluted share for the quarter were $0.40, compared with $0.05 a year ago and up 21% from $0.33 in the previous quarter. Non-GAAP earnings per diluted share were $0.53, up 56% from $0.34 a year earlier and up 15% from $.46 in the previous quarter.
NVIDIA will pay its next quarterly cash dividend of $0.115 per share on September 16, 2016, to all shareholders of record on August 25, 2016. On the next trading session, these positive reports are expected to raise the stock prices even more than it is currently priced. Some analysts have rated NVIDIA shares as strong hold, but more analysts have rated buy. According to Nasdaq, the company’s potential upside is 18%.
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