Hsbc Holdings Plc Lowers stake in NVIDIA Corporation (NVDA)

NVIDIA Corporation (NVDA) : Hsbc Holdings Plc reduced its stake in NVIDIA Corporation by 49.48% during the most recent quarter end. The investment management company now holds a total of 1,867,993 shares of NVIDIA Corporation which is valued at $76.6 Million after selling 1,829,614 shares in NVIDIA Corporation , the firm said in a disclosure report filed with the SEC on May 13, 2016.NVIDIA Corporation makes up approximately 0.26% of Hsbc Holdings Plc’s portfolio.

Other Hedge Funds, Including , Tower Bridge Advisors boosted its stake in NVDA in the latest quarter, The investment management firm added 1,300 additional shares and now holds a total of 8,800 shares of NVIDIA Corporation which is valued at $360,624. NVIDIA Corporation makes up approx 0.05% of Tower Bridge Advisors’s portfolio.Mutual Of America Capital Management boosted its stake in NVDA in the latest quarter, The investment management firm added 3,232 additional shares and now holds a total of 59,806 shares of NVIDIA Corporation which is valued at $2.5 Million. NVIDIA Corporation makes up approx 0.05% of Mutual Of America Capital Management’s portfolio.Russell Frank Co boosted its stake in NVDA in the latest quarter, The investment management firm added 457,374 additional shares and now holds a total of 732,139 shares of NVIDIA Corporation which is valued at $26 Million. NVIDIA Corporation makes up approx 0.05% of Russell Frank Co’s portfolio. New Jersey Better Educational Savings Trust added NVDA to its portfolio by purchasing 16,000 company shares during the most recent quarter which is valued at $568,480. NVIDIA Corporation makes up approx 0.39% of New Jersey Better Educational Savings Trust’s portfolio.

NVIDIA Corporation closed down -0.19 points or -0.42% at $45.17 with 1,14,69,011 shares getting traded on Wednesday. Post opening the session at $45.5, the shares hit an intraday low of $44.81 and an intraday high of $45.69 and the price fluctuated in this range throughout the day.Shares ended Wednesday session in Red.

On the company’s financial health, NVIDIA Corporation reported $0.46 EPS for the quarter, beating the analyst consensus estimate by $ 0.05 according to the earnings call on May 12, 2016. Analyst had a consensus of $0.41. The company had revenue of $1305.00 million for the quarter, compared to analysts expectations of $1264.72 million. The company’s revenue was up 13.5% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.33 EPS.

Many Wall Street Analysts have commented on NVIDIA Corporation. Company shares were Reiterated by RBC Capital Mkts on May 13, 2016 to “Sector Perform”, Firm has raised the Price Target to $ 40 from a previous price target of $36 .Company shares were Reiterated by Wedbush on May 13, 2016 to “Outperform”, Firm has raised the Price Target to $ 42 from a previous price target of $38 .NVIDIA Corporation was Upgraded by ROTH Capital to ” Buy” on May 13, 2016.

NVIDIA Corporation (NVIDIA) is engaged in visual computing enabling individuals to interact with digital ideas data and entertainment. The Company is engaged in creating NVIDIA-branded products and services offering its processors to original equipment manufacturers (OEMs) and licensing its intellectual property. NVIDIA-branded products and services are visual computing platforms that address four markets: Gaming Enterprise High Performance Computing & Cloud and Automotive. The Company operates in two segments: Graphics Processing Unit (GPU) and Tegra Processor. The Company’s GPU product brands include GeForce for gamers; Quadro for designers; Tesla for researchers learning and big-data analysts; and GRID for cloud-based visual computing users. The Company’s Tegra processors are primarily designed to enable its branded platforms: DRIVE and SHIELD.

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