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Nvidia director Mark Stevens sells over $20 million in company stock

Published 26/09/2024, 22:26
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NVDA
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In a significant transaction, Mark Stevens, a director of Nvidia Corp (NASDAQ:NVDA), has sold a considerable amount of company stock, according to a recent regulatory filing. The sale totaled over $20 million, marking a notable move by a key insider of the semiconductor giant.

The transaction, which took place on September 24, involved a sale of 165,100 shares of Nvidia common stock at a weighted average price of $121.2685 per share. The shares were sold in a range from $121.20 to $121.4157, as detailed in the footnotes of the filing. Following this sale, Stevens still holds a substantial number of shares, with 8,420,117 shares owned indirectly through a trust.

The sale comes at a time when Nvidia continues to be a leading player in the semiconductor industry, known for its graphics processing units (GPUs) for gaming and professional markets, as well as system on a chip units (SoCs) for the mobile computing and automotive market.

Investors often look at insider sales as a signal of a director's or executive's belief in the company's current valuation and future prospects. While the reasons for Stevens' sale are not disclosed, the transaction provides transparency into the trading activities of Nvidia's insiders.

Stevens' remaining indirect ownership in Nvidia is held by The 3rd Millennium Trust, where he and his wife serve as co-trustees. Additionally, he is the trustee of the Envy Trust, which holds a separate portion of Nvidia shares.

Nvidia Corp has not issued any statements regarding this transaction, and it is not uncommon for executives and directors to sell shares for personal financial management reasons. Investors keeping an eye on Nvidia will undoubtedly follow any further insider trading activity for insights into the company's performance and strategic direction.


In other recent news, Micron Technology Inc (NASDAQ:MU). has seen a surge in demand for its high-bandwidth memory chips, particularly those used in artificial intelligence (AI) technologies. This has resulted in a robust revenue forecast, contributing to the strongest quarterly revenue growth in ten years for the company. Micron's market value is expected to increase by over $17.5 billion, thanks to these chips. Analysts from Morningstar and Morgan Stanley have noted the company's benefit from the uptick in memory chip demand and its ability to exceed performance predictions. Micron's gross margin outlook for the first quarter ending in November is forecasted at around 39.5%, higher than the market estimates of 37.7%.

In related developments, Micron's positive outlook has had a ripple effect on other players in the semiconductor industry, including Nvidia and Broadcom (NASDAQ:AVGO). The company's CEO, Sanjay Mehrotra, has credited the impressive gross margins to Micron's HBM products. Furthermore, the company's performance has dispelled previous concerns about weakening HBM pricing.

This surge in AI-driven optimism has also been noted by Fiona Cincotta, a senior market analyst at City Index. The resurgence has not only affected Micron but also other growth-oriented companies like Meta (NASDAQ:META), Alphabet (NASDAQ:GOOGL), and Microsoft (NASDAQ:MSFT). These developments are part of a broader trend in the tech industry and the economy, with investors and analysts closely watching for future developments.


InvestingPro Insights


As Nvidia Corp (NASDAQ:NVDA) remains a heavyweight in the semiconductor industry, recent insider trading activity has caught the attention of investors. Mark Stevens' sale of shares has prompted a closer look at the company's financial metrics and market performance. According to InvestingPro data, Nvidia boasts a staggering market capitalization of $3040.0 billion USD, reflecting its significant presence in the market.

The company also exhibits a robust revenue growth, with a remarkable increase of 194.69% in the last twelve months as of Q2 2025. This growth is underscored by Nvidia's impressive gross profit margin, which stands at 75.98% for the same period, indicating the company's efficiency in managing its production costs and maintaining profitability.

Despite a high P/E ratio of 57.68, which suggests a premium valuation, two InvestingPro Tips highlight Nvidia's strong financial health and promising outlook. Firstly, Nvidia has a perfect Piotroski Score of 9, indicating top-notch financial strength. Secondly, analysts have revised their earnings upwards for the upcoming period, signaling confidence in the company's continued growth. These insights are particularly relevant for investors looking to understand the fundamentals and future potential of Nvidia.

For those seeking more in-depth analysis, InvestingPro offers additional tips, including insights into sales growth expectations, gross profit margins, and the company's performance in the Semiconductors & Semiconductor Equipment industry. In total, there are 21 additional tips available on InvestingPro for Nvidia, providing a comprehensive view of the company's financial health and market position. To access these insights, visit https://www.investing.com/pro/NVDA.

This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.

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