Nvidia Corp. (NVDA) Price Target Raised to $80.00
Nvidia Corp. (NASDAQ:NVDA) had its price objective boosted by Nomura from $62.50 to $80.00 in a research note published on Friday. They currently have a buy rating on the computer hardware maker’s stock.
Other equities analysts have also issued research reports about the company. B. Riley reiterated a buy rating and issued a $85.00 price target on shares of Nvidia Corp. in a research note on Monday, November 7th. Brean Capital reiterated a hold rating on shares of Nvidia Corp. in a research report on Monday, August 15th. Finally, Canaccord Genuity reiterated a buy rating and issued a $97.00 price target (up previously from $80.00) on shares of Nvidia Corp. in a research report on Tuesday, November 8th. Two equities research analysts have rated the stock with a sell rating, thirteen have given a hold rating, twenty have assigned a buy rating and two have given a strong buy rating to the company. The company presently has a consensus rating of Buy and a consensus target price of $71.58.
Shares of Nvidia Corp. (NASDAQ:NVDA) opened at 86.19 on Friday. The company has a market capitalization of $46.37 billion, a PE ratio of 44.04 and a beta of 1.17. The stock’s 50 day moving average price is $69.77 and its 200-day moving average price is $56.85. 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, beating the Thomson Reuters’ consensus estimate of $0.57 by $0.37. The firm earned $2 billion during the quarter, compared to analysts’ expectations of $1.69 billion. Nvidia Corp. had a return on equity of 26.82% and a net margin of 19.52%. The company’s quarterly revenue was up 53.6% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.44 EPS. On average, analysts expect that Nvidia Corp. will post $2.42 earnings per share for the current year.
The company also recently declared a quarterly dividend, which will be paid on Monday, December 19th. Shareholders of record on Monday, November 28th will be issued a dividend of $0.14 per share. This represents a $0.56 annualized dividend and a yield of 0.65%. The ex-dividend date of this dividend is Wednesday, November 23rd. This is a boost from Nvidia Corp.’s previous quarterly dividend of $0.12. Nvidia Corp.’s payout ratio is 24.08%.
In other news, Director A Brooke Seawell sold 35,000 shares of the company’s stock in a transaction on Monday, November 14th. The shares were sold at an average price of $87.74, for a total value of $3,070,900.00. Following the completion of the transaction, the director now owns 41,213 shares in the company, valued at approximately $3,616,028.62. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, CFO Colette Kress sold 38,039 shares of the company’s stock in a transaction on Monday, August 29th. The shares were sold at an average price of $62.18, for a total transaction of $2,365,265.02. Following the completion of the transaction, the chief financial officer now owns 512,374 shares of the company’s stock, valued at approximately $31,859,415.32. The disclosure for this sale can be found here. Company insiders own 5.82% of the company’s stock.
Hedge funds and other institutional investors have recently modified their holdings of the stock. Loomis Sayles & Co. L P bought a new position in shares of Nvidia Corp. during the first quarter valued at about $789,000. Wellington Management Group LLP increased its stake 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 valued at $8,484,000 after buying an additional 106,640 shares during the period. Kennedy Capital Management Inc. acquired a new stake in Nvidia Corp. during the first quarter valued at approximately $3,931,000. Nuveen Asset Management LLC increased its stake 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 valued at $9,097,000 after buying an additional 72,305 shares during the period. Finally, AMP Capital Investors Ltd increased its stake 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 valued at $12,201,000 after buying an additional 47,477 shares during the period. Institutional investors and hedge funds own 86.45% 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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