Stock News on NVIDIA Corporation (NASDAQ: NVDA)

NVIDIA Corporation shares are currently trading at $9.43, which is 0.43% higher than Friday’s closing price of $9.39. The company shares on Friday opened at $9.25 rose to daily high of $9.52, before falling to daily low of $9.23 and eventually closing at $9.39. NVIDIA Corporation shares have 52 week price high of $18.96 and 52 week price low of $8.65. The company shares have 50 day moving average of $10.54 and 200 day moving average of $14.47. NVIDIA Corporation shares have support and resistance levels of $9.24 and $9.53.

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NVIDIA Corporation last week announced that it is working on a microprocessor for tablet devices and will be directly competing with Intel Corporation. The company also announced that it is entering into an agreement with the premier licensing company Rambus Inc. As a part of the agreement Rambus Inc will ‘grant patent license for certain memory controllers’ to NVIDIA Corporation. NVIDIA in turn will reimburse Rambus Inc by paying ‘1% royalty rate for SDR memory controllers’ and ‘2% royalty rate’ for any other controllers. NVIDIA Corporation one of the biggest maker of chips for computer graphics card, last week announced it has secured a $25 million from Defense Advanced Research Projects Agency (DARPA) to develop high performance GPU computing systems. The project has been awarded by DARPA, to develop GPU technologies, which will further be used to build a ‘new class of supercomputers which will be 1000 times powerful and faster than the current supercomputers’. NVIDIA Corporation early last week announced its financial results for the second quarter fiscal 2011. The company reported revenue of $811.2 million for the quarter, an increase of 4.5% compared to $776.5 million announced during the second quarter fiscal 2010.

 The company posted a GAAP net loss of $141 million or a loss of 25 cents per share, compared to a GAAP net loss of $105.3 million or 19 cents per diluted share announced during the same period a year ago. NVIDIA Corporation reported a non GAAP profit of $20.1 million or 3 cents per share for the second quarter fiscal 2011. The company cited large inventory write downs as the main reason behind loses. NVIDIA Corporation is one of the biggest maker of chips for computer graphics card and inventor of a high performance processor known as GPU. The company is a leader in providing foremost visual computing technologies for personal computers, mobile devices, work stations and consoles.

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