Brean Capital Reiterates “Hold” Rating for Nvidia Corp. (NVDA)
Nvidia Corp. (NASDAQ:NVDA)‘s stock had its “hold” rating reiterated by equities research analysts at Brean Capital in a research note issued to investors on Sunday.
Several other equities analysts have also issued reports on NVDA. B. Riley reaffirmed a “buy” rating and issued a $85.00 price target on shares of Nvidia Corp. in a report on Monday, November 7th. Oppenheimer Holdings Inc. reissued a “market perform” rating on shares of Nvidia Corp. in a report on Friday. Stifel Nicolaus reissued a “hold” rating and set a $76.00 price objective (up from $64.00) on shares of Nvidia Corp. in a report on Sunday. MKM Partners reissued a “buy” rating and set a $87.00 price objective (up from $74.00) on shares of Nvidia Corp. in a report on Friday. Finally, Raymond James Financial Inc. reissued a “strong-buy” rating and set a $90.00 price objective (up from $75.00) on shares of Nvidia Corp. in a report on Friday. One analyst has rated the stock with a sell rating, fifteen have given a hold rating, nineteen have assigned a buy rating and two have given a strong buy rating to the company. The stock presently has an average rating of “Buy” and a consensus price target of $70.33.
Shares of Nvidia Corp. (NASDAQ:NVDA) traded up 29.81% during midday trading on Friday, reaching $87.97. 54,383,633 shares of the company’s stock were exchanged. Nvidia Corp. has a one year low of $24.75 and a one year high of $88.77. The firm has a market cap of $47.06 billion, a PE ratio of 57.80 and a beta of 1.17. The stock’s 50-day moving average is $68.65 and its 200 day moving average is $55.87.
Nvidia Corp. (NASDAQ:NVDA) last released its quarterly 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. Nvidia Corp. had a net margin of 19.52% and a return on equity of 28.26%. The business had revenue of $2 billion for the quarter, compared to analyst estimates of $1.69 billion. During the same period in the previous year, the company earned $0.44 earnings per share. The business’s revenue for the quarter was up 53.6% on a year-over-year basis. Analysts anticipate that Nvidia Corp. will post $1.85 EPS for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 19th. Shareholders of record on Monday, November 28th will be paid a $0.14 dividend. This represents a $0.56 annualized dividend and a yield of 0.64%. The ex-dividend date is Wednesday, November 23rd. This is an increase from Nvidia Corp.’s previous quarterly dividend of $0.12. Nvidia Corp.’s dividend payout ratio is currently 24.08%.
In other Nvidia Corp. news, insider Michael Byron sold 409 shares of the company’s stock in a transaction on Thursday, September 1st. The shares were sold at an average price of $63.35, for a total value of $25,910.15. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Debora Shoquist sold 35,476 shares of the company’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 completion of the transaction, the executive vice president now owns 352,188 shares of the company’s stock, valued at approximately $22,208,975.28. The disclosure for this sale can be found here. 5.82% of the stock is currently owned by company insiders.
Institutional investors have recently added to or reduced their stakes in the stock. Jennison Associates LLC increased its position in Nvidia Corp. by 568.9% in the second quarter. Jennison Associates LLC now owns 9,402,566 shares of the computer hardware maker’s stock valued at $442,015,000 after buying an additional 7,996,913 shares in the last quarter. Capital World Investors bought a new position in Nvidia Corp. during the second quarter valued at about $172,995,000. Old Mutual Global Investors UK Ltd. increased its position in Nvidia Corp. by 679.2% in the third quarter. Old Mutual Global Investors UK Ltd. now owns 1,882,204 shares of the computer hardware maker’s stock valued at $128,968,000 after buying an additional 1,640,655 shares in the last quarter. Egerton Capital UK LLP increased its position in Nvidia Corp. by 51.6% in the second quarter. Egerton Capital UK LLP now owns 4,751,116 shares of the computer hardware maker’s stock valued at $223,350,000 after buying an additional 1,616,816 shares in the last quarter. Finally, UBS Asset Management Americas Inc. increased its position in Nvidia Corp. by 93.1% in the second quarter. UBS Asset Management Americas Inc. now owns 3,256,177 shares of the computer hardware maker’s stock valued at $153,075,000 after buying an additional 1,570,339 shares in the last quarter. Institutional investors own 86.24% of the company’s stock.
Nvidia Corp. 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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