NEW YORK (TheStreet) -- NVIDIA (NVDA) rose 3.57% to $16.83, up 58 cents from its previous close of $16.25, at the close of the trading day on Wednesday prior to the tech company's announcement of its fourth-quarter results.
The stock hit a one-year high of $16.95 during the day on volume of more than 18 million shares, over 2.5 times its average of 6,939,090.
NVIDIA reported fourth-quarter revenue of $1.14 billion, an 8.6% increase from the $1.05 billion it posted in the third quarter and a 3% year-over-year increase from $1.107 billion. GAAP earnings per diluted share for the quarter were 25 cents, a 25% increase from 20 cents in the third quarter but an 11% decrease from 28 cents in the same period one year earlier. Non-GAAP EPS totaled 32 cents, a 23% increase from 26 cents in the third quarter but down 9% from 35 cents in the same quarter one year ago.
The stock was up 2.5% to $17.25 at 4:32 p.m. in after-market activity.
TheStreet Ratings team rates NVIDIA CORP as a "buy" with a ratings score of B. TheStreet Ratings Team has this to say about their recommendation:
"We rate NVIDIA CORP (NVDA) a BUY. This is driven by several positive factors, which we believe should have a greater impact than any weaknesses, and should give investors a better performance opportunity than most stocks we cover. The company's strengths can be seen in multiple areas, such as its solid stock price performance, largely solid financial position with reasonable debt levels by most measures, reasonable valuation levels, expanding profit margins and notable return on equity. We feel these strengths outweigh the fact that the company has had somewhat weak growth in earnings per share."