NVIDIA Co. (NASDAQ:NVDA)‘s stock had its “buy” rating restated by investment analysts at Canaccord Genuity in a research note issued on Wednesday, May 10th. They presently have a $155.00 target price on the computer hardware maker’s stock, up from their previous target price of $125.00. Canaccord Genuity’s price target points to a potential upside of 7.91% from the stock’s current price.
A number of other analysts have also weighed in on NVDA. Zacks Investment Research raised shares of NVIDIA from a “sell” rating to a “hold” rating in a research report on Monday, May 8th. Pacific Crest reaffirmed an “underweight” rating and set a $90.00 target price on shares of NVIDIA in a research report on Monday, May 8th. B. Riley reaffirmed a “buy” rating and set a $135.00 target price on shares of NVIDIA in a research report on Monday, May 8th. Instinet reissued a “reduce” rating and set a $90.00 price objective on shares of NVIDIA in a report on Friday, May 5th. Finally, Vetr raised shares of NVIDIA from a “buy” rating to a “strong-buy” rating and set a $117.19 price objective on the stock in a report on Thursday, May 4th. Six research analysts have rated the stock with a sell rating, fourteen have given a hold rating, eighteen have issued a buy rating and two have given a strong buy rating to the company. The stock currently has an average rating of “Hold” and a consensus price target of $113.02.
NVIDIA (NASDAQ NVDA) traded down 0.50% during trading on Wednesday, hitting $143.64. The stock had a trading volume of 12,186,434 shares. The stock has a market capitalization of $85.47 billion, a P/E ratio of 48.22 and a beta of 1.31. NVIDIA has a 52 week low of $44.57 and a 52 week high of $147.00. The company has a 50-day moving average of $119.59 and a 200-day moving average of $107.11.
NVIDIA (NASDAQ:NVDA) last announced its quarterly earnings results on Tuesday, May 9th. The computer hardware maker reported $0.82 EPS for the quarter, beating the Zacks’ consensus estimate of $0.66 by $0.16. NVIDIA had a net margin of 26.17% and a return on equity of 34.19%. The firm had revenue of $1.94 billion during the quarter, compared to the consensus estimate of $1.91 billion. During the same quarter last year, the firm earned $0.46 EPS. The firm’s revenue for the quarter was up 48.7% compared to the same quarter last year. On average, equities analysts expect that NVIDIA will post $3.08 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Wednesday, June 14th. Shareholders of record on Tuesday, May 23rd will be issued a $0.14 dividend. This represents a $0.56 dividend on an annualized basis and a yield of 0.39%. The ex-dividend date of this dividend is Friday, May 19th. NVIDIA’s payout ratio is 21.96%.
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In related news, insider Jen Hsun Huang sold 41,670 shares of the business’s stock in a transaction that occurred on Thursday, March 9th. The stock was sold at an average price of $98.30, for a total value of $4,096,161.00. Following the completion of the sale, the insider now owns 1,811,456 shares of the company’s stock, valued at approximately $178,066,124.80. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, Director A Brooke Seawell sold 32,820 shares of the business’s stock in a transaction that occurred on Monday, March 20th. The shares were sold at an average price of $109.00, for a total value of $3,577,380.00. Following the completion of the sale, the director now directly owns 35,927 shares of the company’s stock, valued at approximately $3,916,043. The disclosure for this sale can be found here. Insiders sold a total of 488,252 shares of company stock valued at $59,216,841 over the last three months. 5.82% of the stock is owned by corporate insiders.
Hedge funds and other institutional investors have recently modified their holdings of the stock. Arete Wealth Advisors LLC raised its position in shares of NVIDIA by 0.3% in the first quarter. Arete Wealth Advisors LLC now owns 2,884 shares of the computer hardware maker’s stock worth $314,000 after buying an additional 10 shares during the last quarter. Wetherby Asset Management Inc. raised its position in NVIDIA by 0.5% in the fourth quarter. Wetherby Asset Management Inc. now owns 7,483 shares of the computer hardware maker’s stock valued at $799,000 after buying an additional 38 shares in the last quarter. Miles Capital Inc. raised its position in NVIDIA by 1.1% in the first quarter. Miles Capital Inc. now owns 3,919 shares of the computer hardware maker’s stock valued at $427,000 after buying an additional 41 shares in the last quarter. Savant Capital LLC raised its position in NVIDIA by 2.7% in the first quarter. Savant Capital LLC now owns 2,270 shares of the computer hardware maker’s stock valued at $247,000 after buying an additional 60 shares in the last quarter. Finally, Whittier Trust Co. raised its stake in shares of NVIDIA by 2.1% in the first quarter. Whittier Trust Co. now owns 3,135 shares of the computer hardware maker’s stock worth $341,000 after buying an additional 63 shares during the period. Institutional investors and hedge funds own 85.00% of the company’s stock.
NVIDIA Company Profile
Nvidia Corporation focuses on personal computer (PC) graphics, graphics processing unit (GPU) and also on artificial intelligence (AI). The Company’s operates through two segments: GPU and Tegra Processor. The Company’s GPU product brands are aimed at specialized markets, including GeForce for gamers; Quadro for designers; Tesla and DGX for AI data scientists and big data researchers; and GRID for cloud-based visual computing users.
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