Navellier Associates Inc Lowers stake in NVIDIA Corporation (NVDA)

NVIDIA Corporation (NVDA) : Navellier Associates Inc reduced its stake in NVIDIA Corporation by 30.59% during the most recent quarter end. The investment management company now holds a total of 236,036 shares of NVIDIA Corporation which is valued at $13,262,863 after selling 104,035 shares in NVIDIA Corporation , the firm said in a disclosure report filed with the SEC on Aug 3, 2016.NVIDIA Corporation makes up approximately 1.94% of Navellier Associates Inc’s portfolio.

Other Hedge Funds, Including , State Treasurer State Of Michigan boosted its stake in NVDA in the latest quarter, The investment management firm added 200 additional shares and now holds a total of 176,208 shares of NVIDIA Corporation which is valued at $9,901,128. NVIDIA Corporation makes up approx 0.08% of State Treasurer State Of Michigan’s portfolio. First Midwest Bank Trust Division added NVDA to its portfolio by purchasing 38,490 company shares during the most recent quarter which is valued at $2,157,749. NVIDIA Corporation makes up approx 0.26% of First Midwest Bank Trust Division’s portfolio.Strs Ohio reduced its stake in NVDA by selling 1,284,626 shares or 64.98% in the most recent quarter. The Hedge Fund company now holds 692,426 shares of NVDA which is valued at $38,817,402. NVIDIA Corporation makes up approx 0.17% of Strs Ohio’s portfolio.Checchi Capital Advisers reduced its stake in NVDA by selling 430 shares or 12.67% in the most recent quarter. The Hedge Fund company now holds 2,964 shares of NVDA which is valued at $162,042. NVIDIA Corporation makes up approx 0.04% of Checchi Capital Advisers’s portfolio.Leavell Investment Management boosted its stake in NVDA in the latest quarter, The investment management firm added 6,300 additional shares and now holds a total of 35,900 shares of NVIDIA Corporation which is valued at $1,946,498. NVIDIA Corporation makes up approx 0.28% of Leavell Investment Management’s portfolio.

NVIDIA Corporation opened for trading at $59 and hit $59.14 on the upside on Monday, eventually ending the session at $58.74, with a gain of 0.93% or 0.54 points. The heightened volatility saw the trading volume jump to 76,26,603 shares. Company has a market cap of $31,367 M.

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 Barclays on Aug 10, 2016 to “Underweight”, Firm has raised the Price Target to $ 40 from a previous price target of $30 .NVIDIA Corporation was Downgraded by Wells Fargo to ” Underperform” on Jul 15, 2016. Mizuho Initiated NVIDIA Corporation on Jul 15, 2016 to “Buy”, Price Target of the shares are set at $60.

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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