Jag Capital Management Lowers stake in NVIDIA Corporation (NVDA)

NVIDIA Corporation (NVDA) : Jag Capital Management reduced its stake in NVIDIA Corporation by 27.94% during the most recent quarter end. The investment management company now holds a total of 314,040 shares of NVIDIA Corporation which is valued at $17,168,567 after selling 121,739 shares in NVIDIA Corporation , the firm said in a disclosure report filed with the SEC on Jul 20, 2016.NVIDIA Corporation makes up approximately 3.29% of Jag Capital Management’s portfolio.

Other Hedge Funds, Including , Mizuho Securities Usa sold out all of its stake in NVDA during the most recent quarter. The investment firm sold 6,200 shares of NVDA which is valued $338,954.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. Gradient Investments added NVDA to its portfolio by purchasing 110 company shares during the most recent quarter which is valued at $5,827. Raymond James Trust N.a. added NVDA to its portfolio by purchasing 4,753 company shares during the most recent quarter which is valued at $241,690. NVIDIA Corporation makes up approx 0.02% of Raymond James Trust N.a.’s portfolio.

NVIDIA Corporation opened for trading at $53.7 and hit $54.505 on the upside on Wednesday, eventually ending the session at $54.22, with a gain of 1.31% or 0.7 points. The heightened volatility saw the trading volume jump to 74,11,502 shares. Company has a market cap of $28,953 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. 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.Company shares were Reiterated by RBC Capital Mkts on Jun 17, 2016 to “Outperform”, Firm has raised the Price Target to $ 47 from a previous price target of $40 .

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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