Stifel Nicolaus Reiterates Hold Rating for Nvidia Corp. (NVDA)
Nvidia Corp. (NASDAQ:NVDA)‘s stock had its “hold” rating reaffirmed by research analysts at Stifel Nicolaus in a research report issued to clients and investors on Sunday. They presently have a $76.00 price target on the computer hardware maker’s stock, up from their previous price target of $64.00. Stifel Nicolaus’ price target would suggest a potential downside of 13.61% from the stock’s current price.
Other equities research analysts also recently issued reports about the company. RBC Capital Markets upgraded Nvidia Corp. from a “sector perform” rating to an “outperform” rating and lifted their price objective for the stock from $47.00 to $72.00 in a report on Friday, August 12th. Global Equities Research restated an “overweight” rating and set a $85.00 price objective on shares of Nvidia Corp. in a report on Friday. B. Riley restated a “buy” rating and set a $64.50 price objective on shares of Nvidia Corp. in a report on Wednesday, August 10th. Vetr downgraded Nvidia Corp. from a “sell” rating to a “strong sell” rating and set a $49.47 price objective on the stock. in a report on Monday, July 25th. Finally, Zacks Investment Research downgraded Nvidia Corp. from a “strong-buy” rating to a “hold” rating in a report on Wednesday, October 19th. One investment analyst has rated the stock with a sell rating, fifteen have issued a hold rating, nineteen have assigned a buy rating and two have assigned a strong buy rating to the company. The company presently has an average rating of “Buy” and a consensus price target of $70.33.
Nvidia Corp. (NASDAQ:NVDA) traded up 29.81% during midday trading on Friday, hitting $87.97. The stock had a trading volume of 54,383,633 shares. Nvidia Corp. has a 12-month low of $24.75 and a 12-month high of $88.77. The company has a market cap of $47.06 billion, a price-to-earnings ratio of 57.80 and a beta of 1.17. The company has a 50-day moving average price of $68.65 and a 200-day moving average price of $55.87.
Nvidia Corp. (NASDAQ:NVDA) last announced its earnings results on Thursday, November 10th. The computer hardware maker reported $0.94 EPS for the quarter, beating the consensus estimate of $0.57 by $0.37. The business had revenue of $2 billion for the quarter, compared to the consensus estimate of $1.69 billion. Nvidia Corp. had a return on equity of 28.26% and a net margin of 19.52%. The company’s revenue was up 53.6% on a year-over-year basis. During the same period last year, the business posted $0.44 EPS. Equities analysts anticipate that Nvidia Corp. will post $1.85 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 19th. Investors of record on Monday, November 28th will be given a dividend of $0.14 per share. This represents a $0.56 annualized dividend and a dividend yield of 0.64%. The ex-dividend date is Wednesday, November 23rd. This is a boost from Nvidia Corp.’s previous quarterly dividend of $0.12. Nvidia Corp.’s 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 that occurred on Thursday, September 1st. The stock was sold at an average price of $63.35, for a total value of $25,910.15. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Persis Drell sold 2,361 shares of the company’s stock in a transaction that occurred on Wednesday, October 12th. The shares were sold at an average price of $66.58, for a total value of $157,195.38. Following the completion of the transaction, the director now directly owns 27,152 shares of the company’s stock, valued at approximately $1,807,780.16. The disclosure for this sale can be found here. Corporate insiders own 5.82% of the company’s stock.
A number of institutional investors have recently bought and sold shares of the stock. Jennison Associates LLC boosted 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 during the period. Capital World Investors purchased a new position in Nvidia Corp. during the second quarter valued at approximately $172,995,000. Old Mutual Global Investors UK Ltd. boosted 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 during the period. Egerton Capital UK LLP boosted 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 during the period. Finally, UBS Asset Management Americas Inc. boosted 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 during the period. 86.24% of the stock is owned by hedge funds and other institutional investors.
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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