Nvidia Corp. (NVDA) Given New $80.00 Price Target at Mizuho
Nvidia Corp. (NASDAQ:NVDA) had its price objective increased by analysts at Mizuho from $66.00 to $80.00 in a note issued to investors on Friday. The firm currently has a “buy” rating on the computer hardware maker’s stock. Mizuho’s price target points to a potential upside of 18.05% from the stock’s previous close.
A number of other research analysts have also weighed in on the stock. RBC Capital Markets raised shares of Nvidia Corp. from a “sector perform” rating to an “outperform” rating and raised their price objective for the company from $47.00 to $72.00 in a research note on Friday, August 12th. B. Riley reaffirmed a “buy” rating and issued a $64.50 price objective on shares of Nvidia Corp. in a research note on Wednesday, August 10th. Vetr lowered shares of Nvidia Corp. from a “sell” rating to a “strong sell” rating and set a $49.47 price objective on the stock. in a research note on Monday, July 25th. Zacks Investment Research lowered shares of Nvidia Corp. from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, October 19th. Finally, Argus raised their price objective on shares of Nvidia Corp. from $54.00 to $72.00 and gave the company a “buy” rating in a research note on Monday, August 15th. Two research analysts have rated the stock with a sell rating, fourteen have issued a hold rating, nineteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The company presently has an average rating of “Buy” and a consensus target price of $62.63.
Shares of Nvidia Corp. (NASDAQ:NVDA) opened at 67.77 on Friday. Nvidia Corp. has a one year low of $24.75 and a one year high of $72.95. The company has a market cap of $36.26 billion, a P/E ratio of 44.53 and a beta of 1.17. The company’s 50 day moving average is $68.01 and its 200 day moving average is $55.50.
Nvidia Corp. (NASDAQ:NVDA) last issued its earnings results on Thursday, November 10th. The computer hardware maker reported $0.94 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.57 by $0.37. The business had revenue of $2 billion for the quarter, compared to analyst estimates of $1.69 billion. Nvidia Corp. had a net margin of 16.58% and a return on equity of 20.86%. Nvidia Corp.’s revenue was up 53.6% on a year-over-year basis. During the same period in the prior year, the firm earned $0.44 earnings per share. On average, equities analysts predict that Nvidia Corp. will post $1.85 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Monday, December 19th. Stockholders of record on Monday, November 28th will be issued a dividend of $0.14 per share. This represents a $0.56 dividend on an annualized basis and a dividend yield of 0.83%. This is a boost from Nvidia Corp.’s previous quarterly dividend of $0.12. Nvidia Corp.’s payout ratio is 30.26%.
In other news, EVP Debora Shoquist sold 35,476 shares of the business’s stock in a transaction on Monday, August 15th. The shares were sold at an average price of $63.06, for a total transaction of $2,237,116.56. Following the sale, the executive vice president now owns 352,188 shares in the company, valued at approximately $22,208,975.28. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, insider Jen Hsun Huang sold 41,666 shares of the business’s stock in a transaction on Wednesday, October 12th. The shares were sold at an average price of $66.42, for a total transaction of $2,767,455.72. Following the sale, the insider now owns 1,751,872 shares in the company, valued at approximately $116,359,338.24. The disclosure for this sale can be found here. Insiders own 5.82% of the company’s stock.
Hedge funds have recently made changes to their positions in the stock. Loomis Sayles & Co. L P purchased a new position in shares of Nvidia Corp. during the first quarter worth about $789,000. Wellington Management Group LLP boosted its position in shares of Nvidia Corp. by 81.1% in the first quarter. Wellington Management Group LLP now owns 238,134 shares of the computer hardware maker’s stock worth $8,484,000 after buying an additional 106,640 shares during the last quarter. Kennedy Capital Management Inc. purchased a new position in shares of Nvidia Corp. during the first quarter worth about $3,931,000. Nuveen Asset Management LLC boosted its position in shares of Nvidia Corp. by 39.5% in the first quarter. Nuveen Asset Management LLC now owns 255,303 shares of the computer hardware maker’s stock worth $9,097,000 after buying an additional 72,305 shares during the last quarter. Finally, AMP Capital Investors Ltd boosted its position in shares of Nvidia Corp. by 16.2% in the first quarter. AMP Capital Investors Ltd now owns 341,202 shares of the computer hardware maker’s stock worth $12,201,000 after buying an additional 47,477 shares during the last quarter. Hedge funds and other institutional investors own 86.24% of the company’s stock.
About Nvidia Corp.
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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