Nvidia Corp. (NVDA) Upgraded to Equal Weight at Barclays PLC
Nvidia Corp. (NASDAQ:NVDA) was upgraded by research analysts at Barclays PLC from an “underweight” rating to an “equal weight” rating in a research report issued to clients and investors on Friday.
A number of other equities analysts have also recently issued reports on the stock. Mizuho boosted their price objective on shares of Nvidia Corp. from $66.00 to $80.00 and gave the company a “buy” rating in a research report on Friday. Bank of America Corp. reiterated a “buy” rating and set a $80.00 price target on shares of Nvidia Corp. in a research report on Tuesday. RBC Capital Markets reiterated an “outperform” rating and set a $80.00 price target (up previously from $72.00) on shares of Nvidia Corp. in a research report on Tuesday. Royal Bank Of Canada boosted their price target on shares of Nvidia Corp. from $72.00 to $80.00 and gave the company an “outperform” rating in a research report on Tuesday. Finally, Canaccord Genuity reiterated a “buy” rating and set a $80.00 price target (up previously from $70.00) on shares of Nvidia Corp. in a research report on Tuesday. One analyst has rated the stock with a sell rating, fifteen have assigned a hold rating, nineteen have assigned a buy rating and one has given a strong buy rating to the company. Nvidia Corp. currently has an average rating of “Buy” and a consensus target price of $63.13.
Shares of Nvidia Corp. (NASDAQ:NVDA) opened at 67.77 on Friday. The firm has a 50-day moving average of $68.01 and a 200 day moving average of $55.50. The stock has a market cap of $36.26 billion, a price-to-earnings ratio of 44.53 and a beta of 1.17. Nvidia Corp. has a 1-year low of $24.75 and a 1-year high of $72.95.
Nvidia Corp. (NASDAQ:NVDA) last released its quarterly earnings data on Thursday, November 10th. The computer hardware maker reported $0.94 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.57 by $0.37. Nvidia Corp. had a net margin of 16.58% and a return on equity of 20.86%. The firm had revenue of $2 billion for the quarter, compared to analysts’ expectations of $1.69 billion. During the same quarter in the previous year, the company earned $0.44 earnings per share. The company’s revenue for the quarter was up 53.6% compared to the same quarter last year. Equities research analysts forecast that Nvidia Corp. will post $1.85 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 19th. Investors of record on Monday, November 28th will be issued a dividend of $0.14 per share. This is a positive change from Nvidia Corp.’s previous quarterly dividend of $0.12. This represents a $0.56 dividend on an annualized basis and a yield of 0.83%. Nvidia Corp.’s dividend payout ratio (DPR) is presently 30.26%.
In related news, insider Michael Byron sold 409 shares of Nvidia Corp. stock in a transaction dated Thursday, September 1st. The shares were sold at an average price of $63.35, for a total transaction of $25,910.15. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Jen Hsun Huang sold 43,727 shares of the firm’s stock in a transaction dated Tuesday, September 6th. The shares were sold at an average price of $62.81, for a total transaction of $2,746,492.87. Following the transaction, the insider now directly owns 1,827,279 shares in the company, valued at approximately $114,771,393.99. The disclosure for this sale can be found here. Corporate insiders own 5.82% of the company’s stock.
Hedge funds and other institutional investors have recently bought and sold shares of the stock. Loomis Sayles & Co. L P acquired a new position in Nvidia Corp. during the first quarter worth approximately $789,000. Wellington Management Group LLP increased its position in 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 period. Kennedy Capital Management Inc. acquired a new position in Nvidia Corp. during the first quarter worth approximately $3,931,000. Nuveen Asset Management LLC increased its position in 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 period. Finally, AMP Capital Investors Ltd increased its position in 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 period. 86.24% of the stock is currently owned by institutional investors and hedge funds.
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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