The theme of this years Consumer Electronics Show should be ‘Autonomous Vehicles’ as it seems as if every other company has decided to enter the space in one way on another. NVIDIA Corporation (NASDAQ:NVDA) is one of these companies, and today they’ve unveiled their Drive PX 2, ‘the first supercomputer made for cars’. The new device is able to perform a staggering 24 trillion operations a second and according to NVIDIA Corporation (NASDAQ:NVDA) integrates 12 CPU cores and 8 teraflops of processing power.
“We aren’t realize the full potential of our vision unless we can solve city driving,” explained Jen-Hsun Huang, NVIDIA’s CEO. “Bikers are in the same road you are… People are sometimes following the rules and most times not… It’s very chaotic and very hard.”
It appears as if NVIDIA Corporation (NASDAQ:NVDA) already has their first customer for the PX 2. They annoucned today that Volvo is the first company to adopt the new computer as they venture further into the self-driving car arena. The stock closed at $32.37 during the last trading session. It is up 44.64% since June 1, 2015 and is uptrending. It has outperformed the S&P500 by 47.65%.
From a total of 17 analysts covering Nvidia Corporation (NASDAQ:NVDA) stock, 7 rate it a “Buy”, 0 a “Sell”, and 10 a “Hold”. This means that 41% of the ratings are positive. The highest target price is $39.0 while the lowest target price is $20. The mean of all analyst targets is $30.04 which is -7.20% below today’s ($32.37) stock price. Nvidia Corporation was the topic of 43 analyst reports since August 3, 2015 according to the firm StockzIntelligence Inc. M Partners maintained shares on December 30 with a “Buy” rating. Morgan Stanley maintained shares with a”Equal-Weight” rating and a $30 target share price in their report from a November 6. Wedbush maintained NVDA stock in a recent report from November 6 with a “Outperform” rating. Roth Capital maintained the rating on November 6. Roth Capital has a “Neutral” rating and a $30 price target on shares. Finally, Topeka Capital Markets maintained the stock with a “Hold” rating in a report they issued on a November 6.
The institutional sentiment increased to 0.98 in Q2 2015. It’s up 0.21, from 0.77 in 2015Q2. The ratio is positive, as 48 funds sold all their NVIDIA Corporation shares they owned while 188 reduced their positions. 74 funds bought stakes while 157 increased their total positions. Institutions now own 385.00 million shares which is 12.87% less than the previous share count of 441.84 million in 2015Q2.
Gavekal Capital Llc holds 5.14% of its total portfolio in NVIDIA Corporation, equating to 550,063 shares. Quinn Opportunity Partners Llc owns 347,379 shares representing 3.97% of their total US portfolio. Moreover, Guinness Atkinson Asset Management Inc has 3.74% of their total portfolio invested in the company, equating to 238,015 shares. The Ontario – Canada-based Taylor Asset Management Inc has a total of 3.3% of their portfolio invested in the stock. Hugh Johnson Advisors Llc, a New York-based fund reported 222,864 shares owned.
Since March 5, 2015, the stock had 0 insider purchases, and 6 insider sales for a total of $8.52 million in net activity. Byron Michael sold 50,000 shares worth $1.25M. Huang Jen Hsun sold 170,000 shares worth $3.96 million. Shoquist Debora sold 29,903 shares worth $712,197. Seawell A Brooke sold 106,104 shares worth $2.47M. The insider Shannon David M sold 2,500 shares worth $52,689.
NVIDIA Corporation is engaged in visual computing, enabling individuals to interact with digital ideas, data and entertainment. The company has a market cap of $17.42 billion. The Firm is engaged in creating NVIDIA-branded services and products, offering its processors to original equipment manufacturers (OEMs), and licensing its intellectual property. It has 30.37 P/E ratio. NVIDIA-branded services and products are visual computing platforms that address four markets: Gaming, Enterprise, High Performance Computing & Cloud, and Automotive.