MKM Partners Reiterates “Buy” Rating for Nvidia Corp. (NVDA)
Nvidia Corp. (NASDAQ:NVDA)‘s stock had its “buy” rating reissued by MKM Partners in a research note issued on Friday. They presently have a $87.00 price objective on the computer hardware maker’s stock, up from their previous price objective of $74.00. MKM Partners’ target price suggests a potential upside of 4.02% from the company’s current price.
A number of other equities analysts have also weighed in on the stock. B. Riley restated a “buy” rating and issued a $100.00 price objective on shares of Nvidia Corp. in a report on Saturday. Citigroup Inc. set a $100.00 price objective on shares of Nvidia Corp. and gave the stock a “buy” rating in a report on Friday. BMO Capital Markets restated a “hold” rating and issued a $75.00 price objective (up from $59.00) on shares of Nvidia Corp. in a report on Friday. Global Equities Research reaffirmed an “overweight” rating and issued a $85.00 target price on shares of Nvidia Corp. in a research report on Friday. Finally, Nomura lifted their target price on shares of Nvidia Corp. from $62.50 to $80.00 and gave the stock a “buy” rating in a research report on Friday. Two investment analysts have rated the stock with a sell rating, thirteen have given a hold rating, twenty have issued a buy rating and two have assigned a strong buy rating to the company’s stock. Nvidia Corp. has a consensus rating of “Buy” and a consensus price target of $71.58.
Shares of Nvidia Corp. (NASDAQ:NVDA) opened at 83.64 on Friday. The firm’s 50 day moving average price is $69.17 and its 200 day moving average price is $56.48. The stock has a market cap of $45.00 billion, a P/E ratio of 42.74 and a beta of 1.17. Nvidia Corp. has a 52-week low of $24.75 and a 52-week high of $88.77.
Nvidia Corp. (NASDAQ:NVDA) last announced its quarterly earnings data on Thursday, November 10th. The computer hardware maker reported $0.94 earnings per share for the quarter, topping analysts’ consensus estimates of $0.57 by $0.37. Nvidia Corp. had a net margin of 19.52% and a return on equity of 26.82%. The company earned $2 billion during the quarter, compared to analyst estimates of $1.69 billion. During the same period in the previous year, the business earned $0.44 EPS. The firm’s revenue for the quarter was up 53.6% on a year-over-year basis. On average, analysts expect that Nvidia Corp. will post $1.85 EPS for the current year.
The company also recently announced 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 is a boost from Nvidia Corp.’s previous quarterly dividend of $0.12. The ex-dividend date of this dividend is Wednesday, November 23rd. This represents a $0.56 dividend on an annualized basis and a yield of 0.67%. Nvidia Corp.’s dividend payout ratio is presently 24.08%.
In related news, Director Tench Coxe sold 85,551 shares of the stock in a transaction that occurred on Friday, September 30th. The shares were sold at an average price of $68.75, for a total transaction of $5,881,631.25. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director A Brooke Seawell sold 35,000 shares of the stock in a transaction that occurred on Monday, November 14th. The shares were sold at an average price of $87.74, for a total transaction of $3,070,900.00. Following the sale, the director now directly owns 41,213 shares of the company’s stock, valued at approximately $3,616,028.62. The disclosure for this sale can be found here. Corporate insiders own 5.82% of the company’s stock.
Large investors have recently bought and sold shares of the stock. West Oak Capital LLC boosted its position in Nvidia Corp. by 183.6% in the third quarter. West Oak Capital LLC now owns 1,560 shares of the computer hardware maker’s stock worth $107,000 after buying an additional 1,010 shares in the last quarter. Brick & Kyle Associates boosted its position in Nvidia Corp. by 25.1% in the second quarter. Brick & Kyle Associates now owns 2,502 shares of the computer hardware maker’s stock worth $118,000 after buying an additional 502 shares in the last quarter. Cornerstone Advisors Inc. boosted its position in Nvidia Corp. by 52.2% in the third quarter. Cornerstone Advisors Inc. now owns 1,784 shares of the computer hardware maker’s stock worth $122,000 after buying an additional 612 shares in the last quarter. Stephens Inc. AR boosted its position in Nvidia Corp. by 10.2% in the third quarter. Stephens Inc. AR now owns 1,926 shares of the computer hardware maker’s stock worth $132,000 after buying an additional 179 shares in the last quarter. Finally, Advisors Preferred LLC boosted its position in Nvidia Corp. by 791.9% in the third quarter. Advisors Preferred LLC now owns 2,310 shares of the computer hardware maker’s stock worth $158,000 after buying an additional 2,051 shares in the last quarter. 86.45% of the stock is owned by institutional investors.
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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