What in the world is that all about?
It seems someone in management made a Foo Pah and stated the request for additional shares for employee options and RSUs wrong last year. Alas they have to do it again this year for management to get their ginormous compensation. It's proposal 2 and I just voted NO on a whole bunch of shares.
Note: Options are OK in my book, but these ZERO basis RSUs are definitedly not shareholder friendly. In the proxy statement they promise to only issue 30 million new shares to employees in the next two years. Perhaps that is why they are buying back 60 to 70 million shares this fiscal year. Perfect timing. Read the proxy on Nvidia's website.....some of those numerous Senior VP's option are seriously underwater, and apparently becoming unhappy..
Your a bit melodramatic and perhaps mistaken Mr. Santa Clara Greg. Atmel on April 2nd raise revenue guidance.
P.S. Nothing magical about Santa Clara....we have have all worked there. Win 8 along with the Mighty Intel pushing notebook ultrabook touchscreens will put Atmel in the chips soon.
"Win 8 has been out since October and where are all the sales? We did not see it last quarter and the guide for q2 was not good at all. So when are we going to see the Win 8 revs? Or did Atmel lose all the smartphone business and just replaced some of it with Win 8 so no net gain."
Not sure what you are talking about..
"Strategy Analytics: Windows Tablets Q1 Market Share at 7.5 Percent
Microsoft appears to have a bigger chunk of the tablet market than earlier analyst estimates have suggested."
Note: Atmel is in both the Surface Pro and the Surface RT tablets. Win 8 notebooks are starting to sell very well.....check out MSFT stock price action recently!
From the 2012 Annual Report - 10K:
"During fiscal years 2013, 2012 and 2011, we granted approximately 7.1 million, 6.4 million and 5.8 million stock options, respectively, with estimated total grant-date fair values of $38.3 million, $52.4 million and $34.4 million, respectively, and weighted average grant-date fair values of $5.38, $8.16 and $5.89 per option, respectively. During fiscal years 2013, 2012 and 2011, we granted approximately 8.1 million, 7.3 million and 7.1 million RSUs, respectively, with estimated total grant-date fair values of $112.8 million, $119.7 million and $96.7 million, respectively, and weighted average grant-date fair values of $13.86, $16.31 and $13.61 per RSU, respectively."
If you are a Nvidia employee you gotta love those RSUs. Stock doesn't even have to go up and yes, your always in the money because your basis is ZERO. Gee is that aligning with shareholder values. I don't know, but I have to ask where is the incentive with all these RSUs.
Perhaps it takes these things to keep all those Senior VP's and the CEO happy.
Think about it. We are 4+ months after the Tegra 4 announcement and we have zero, yes zip, Tegra 4 products shipping. But we have Project Shield due in a month or so. But alas Nvidia's CEO said and I quote,
"I have no expectations about Project Shield and neither should you!"
Stock buyback in process. $100M last quarter, $100M in Q1. and $600M over 2Q, 3Q, and 4Q.So what's the complaint. Perhaps, Nvidia should announce how many new shares will be issued to employees. Based on past performance at least half of the buyback will be negated by employee options and management RSU!
It's very hard to keep 35 Senior Vice Presidents satisfied.
"What will you have for dinner? Don't forget to tell us!"
Your funny, but please don't make fun our resident call option writer....3 guesses which one?
13+ Million shares traded in the last 18 minutes before earnings announcement. Stock jumped 10% before close.
Good to see insider trading in Silicon Valley is alive and well.
Will Nvidia ever catch a bid like that again?
"Futile efforts by the traders who swung the wrong way."
Yep....sold some Nvidia and bought some Intel. Sold some Nvidia 13 calls like everyone else on this board is doing too.
Time to write some May calls when April's expire worthless tomorrow? Can get 36 cents for em today. Same ole same ole. Might be good thru summer with no Tegra 4 design wins!
Do like the share buybacks and the dividend though.
In Q4 they did an accelerated buyback with their investment banker delivering 7.1 million shares on the same day( i.e. borrowed the stock and sold at a negotiated price) with a 30 or 45 day settle yielding an additional 1.275 million shares, based on the average volume weighted price during that time frame. If they do it the same way each quarter, the investment banker is essentially short the stock during the settlement period.
Essentially using ASRs Nvidia's investment banker is short the stock during the settlement period. Kind of upside down don't you think? Of course I could be missing something or completely off base.
Most companies that do doing stock buybacks are active in the market when the prices are right as you describe.
Last quarter Nvidia gave their investment banker instructions to buyback $100M. When settled they got 8.3M shares for an average price of $11.94. At the investment day presentation, Nvidia management said they were going to buy back $100M this quarter and $600M spread over Q2, Q3, and Q4.
I've seen lots of Accelerated stock buybacks in Semi's, but this one is strange. It's so piece mill, usually companies jump the shark and do it quickly...not spread over 5 quarters.
This begs the question......Are they trying to play the summer slowdown and get a better price or is Nvidia thinking that their investment banker being in the market opportunistically puts a floor on the price per share. And if so, why not buy at the cheapest price.
Have no idea, what do you think?
"Boland co-founded phone baseband chipmaker Icera in 2002, heading up the company as president and CEO for nine years. In 2011, Nvidia — anxious to add radio chips to its mobile processor portfolio — acquired it for $367 million in cash. Boland stayed on as Nvidia’s SVP of mobile communications, but according to his LinkedIn profile Boland left the company in October."
I hadn't heard about this...wonder why he left?...he had a large yearly retention payment good for four years. Wonder who else he will be taking with him?
Sure ibexx....Always the same.
Sorry, I can't resist but I am pretty sure you are still underwater or very close....and you passed on a triple....my my. ....and such a sharp tool as you?
Good luck and never deviate from pumping the stock before you write them calls. Novice guy like me can even make money at it.
And talking squat about other companies coming from such a knowledgeable investor as you puts Nvidia in a much more favorable light right......Oh I forgot you've been doing this routinely all the way from $9 to $26 and down from $26 to $12.....
nothing ever changes......Have you written your options yet?
"--The guy who oversees operations (fabs, manufacturing etc)"
intel is about manufacturing prowess so who better to lead the company. Besides I heard a long time ago that he was an Outstanding Manufacturing Manager before he moved up..
"We should be grateful for JH being the visionary leader guiding NVIDIA through the treacherous waters.....I know I am."
Yes he has done a great job for the company and the employees. Admire that old fashion values thingee.....but as for the shareholders, it's still an open question on how great of a job he has done when looking at the share price over the last 2.5 years.
How are you doing?
Just one question with two parts OK.
Have you written your calls yet? Or and please forgive me but are you a hired PR hack or a Nvidia investor relations employee?
The reason I ask, is no one would pump a stock as relentlessly as you if he wasn't paid for it. Especially all the way down from $25 two years ago.
Take your time to answer......but does it really matter?
"He also doesn't like j7777kxx, but the dislike is much more muted there".
You shouldn't waste your time on worrying about Ibexx. He is an option player by his own volition. Much like you he is a quite an active trader. Sometime long, sometime short....utilizing options. Plus he trades options in amounts that would put most to sham!!!!. His public face is always bullish...but notice how quiet he becomes when option expiration is nearing except when Krimax or Mslans shows up.
Nothing wrong about trading in any form and nothing wrong with making money. More power to him!
Tolerance is a virtue......even on a Yahoo message board.
Someday I'm sure you will learn tolerance and be at peace with your position in Nvidia.
In the meantime you should be thankful for the traders.