Wells Fargo & Co. Reiterates Underperform Rating for NVIDIA Co. (NVDA)
NVIDIA Co. (NASDAQ:NVDA)‘s stock had its “underperform” rating reissued by research analysts at Wells Fargo & Co. in a note issued to investors on Friday.
NVDA has been the topic of a number of other reports. RBC Capital Markets raised NVIDIA from a “sector perform” rating to an “outperform” rating and raised their price target for the company from $47.00 to $72.00 in a report on Friday, August 12th. KeyCorp reissued a “hold” rating on shares of NVIDIA in a report on Wednesday, July 6th. B. Riley reissued a “buy” rating and set a $64.50 price target on shares of NVIDIA in a report on Wednesday, August 10th. Vetr cut NVIDIA from a “sell” rating to a “strong sell” rating and set a $49.47 price target on the stock. in a report on Monday, July 25th. Finally, Argus raised their price target on NVIDIA from $54.00 to $72.00 and gave the company a “buy” rating in a report on Monday, August 15th. Two analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and nineteen have assigned a buy rating to the stock. The stock has an average rating of “Hold” and an average price target of $58.60.
Shares of NVIDIA (NASDAQ:NVDA) opened at 68.45 on Friday. The stock has a market capitalization of $36.62 billion, a PE ratio of 44.97 and a beta of 1.25. The company’s 50-day moving average price is $63.15 and its 200 day moving average price is $49.28. NVIDIA has a one year low of $24.75 and a one year high of $69.51.
NVIDIA (NASDAQ:NVDA) last released its earnings results on Thursday, August 11th. The computer hardware maker reported $0.53 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.37 by $0.16. The company had revenue of $1.43 billion for the quarter, compared to the consensus estimate of $1.35 billion. NVIDIA had a return on equity of 20.86% and a net margin of 16.58%. NVIDIA’s quarterly revenue was up 23.9% compared to the same quarter last year. During the same period in the previous year, the business earned $0.34 earnings per share. Analysts anticipate that NVIDIA will post $1.85 EPS for the current year.
The company also recently declared a quarterly dividend, which was paid on Friday, September 16th. Investors of record on Thursday, August 25th were issued a $0.115 dividend. The ex-dividend date was Tuesday, August 23rd. This represents a $0.46 dividend on an annualized basis and a dividend yield of 0.67%. NVIDIA’s payout ratio is 30.26%.
In related news, Director A Brooke Seawell sold 30,000 shares of the business’s stock in a transaction that occurred on Friday, September 16th. The stock was sold at an average price of $62.52, for a total value of $1,875,600.00. Following the completion of the sale, the director now owns 6,213 shares in the company, valued at $388,436.76. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Tench Coxe sold 48,000 shares of the business’s stock in a transaction that occurred on Monday, September 19th. The shares were sold at an average price of $63.66, for a total value of $3,055,680.00. The disclosure for this sale can be found here. 5.82% of the stock is owned by corporate insiders.
A number of institutional investors have recently modified their holdings of the company. Glenmede Trust Co. NA increased its position in shares of NVIDIA by 12.5% in the first quarter. Glenmede Trust Co. NA now owns 191,249 shares of the computer hardware maker’s stock worth $6,812,000 after buying an additional 21,192 shares during the period. Commonwealth Equity Services Inc increased its position in shares of NVIDIA by 23.6% in the first quarter. Commonwealth Equity Services Inc now owns 58,530 shares of the computer hardware maker’s stock worth $2,085,000 after buying an additional 11,188 shares during the period. Aperio Group LLC increased its position in shares of NVIDIA by 23.3% in the first quarter. Aperio Group LLC now owns 199,744 shares of the computer hardware maker’s stock worth $7,117,000 after buying an additional 37,783 shares during the period. Nisa Investment Advisors L.L.C. increased its position in shares of NVIDIA by 1.3% in the first quarter. Nisa Investment Advisors L.L.C. now owns 137,401 shares of the computer hardware maker’s stock worth $4,896,000 after buying an additional 1,700 shares during the period. Finally, CIBC World Markets Inc. increased its position in shares of NVIDIA by 6.5% in the first quarter. CIBC World Markets Inc. now owns 42,952 shares of the computer hardware maker’s stock worth $1,530,000 after buying an additional 2,640 shares during the period. 86.37% of the stock is owned by institutional investors.
NVIDIA Company Profile
NVIDIA Corporation (NVIDIA) is engaged in visual computing. The Company operates through segments, including GPU and Tegra Processor. Its GPU businesses include GeForce for personal computer (PC) gaming; Quadro for design professionals working in computer-aided design, video editing, special effects and other creative applications; Tesla for deep learning and accelerated computing, leveraging the parallel computing capabilities of graphics processing units (GPUs) for general purpose computing, and GRID to provide the power of NVIDIA graphics through the cloud and datacenters.
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