Why Nvidia Shares Are Rising

Shares of semiconductor companies, including NVIDIA Corporation NVDA, are trading higher in sympathy with ON Semiconductor Corp ON, which reported better-than-expected fourth-quarter results and issued strong first-quarter guidance.

ON Semiconductor reported quarterly earnings of $1.09 per share which beat the analyst consensus estimate of 94 cents. The company reported quarterly sales of $1.85 billion which beat the analyst consensus estimate of $1.79 billion by 3%.

Traders and investors will be watching for Nvidia's fourth-quarter earnings report, which is confirmed for Wednesday, February 16th after market close.

Nvidia is trading higher by 2.4% at $346.47. Nvidia has a 52-week high of $346.47 and a 52-week low of $115.66.