RBC Capital Markets Raises Nvidia Corp. (NVDA) Price Target to $95.00
Several other equities analysts have also issued reports on the company. Wells Fargo & Co. lowered Nvidia Corp. from a market perform rating to an underperform rating and upped their target price for the company from $19.09 to $46.70 in a report on Friday, July 15th. Jefferies Group reaffirmed a buy rating and issued a $80.00 target price on shares of Nvidia Corp. in a report on Monday, October 24th. Vetr lowered Nvidia Corp. from a sell rating to a strong sell rating and set a $49.47 target price for the company. in a report on Monday, July 25th. Zacks Investment Research raised Nvidia Corp. from a hold rating to a strong-buy rating and set a $78.00 target price for the company in a report on Monday, November 7th. Finally, Pacific Crest reaffirmed a hold rating on shares of Nvidia Corp. in a report on Friday, August 5th. Two equities research analysts have rated the stock with a sell rating, thirteen have issued a hold rating, twenty have assigned a buy rating and two have issued a strong buy rating to the company’s stock. The stock has an average rating of Buy and an average price target of $71.58.
Shares of Nvidia Corp. (NASDAQ:NVDA) opened at 86.19 on Friday. Nvidia Corp. has a one year low of $24.75 and a one year high of $88.77. The firm has a 50 day moving average price of $69.77 and a 200 day moving average price of $56.85. The company has a market capitalization of $46.37 billion, a P/E ratio of 44.04 and a beta of 1.17.
Nvidia Corp. (NASDAQ:NVDA) last issued its quarterly earnings data on Thursday, November 10th. The computer hardware maker reported $0.94 EPS for the quarter, topping analysts’ consensus estimates of $0.57 by $0.37. The firm earned $2 billion during the quarter, compared to analyst estimates of $1.69 billion. Nvidia Corp. had a return on equity of 26.82% and a net margin of 19.52%. The company’s revenue for the quarter was up 53.6% on a year-over-year basis. During the same period in the previous year, the company posted $0.44 EPS. On average, equities research analysts predict that Nvidia Corp. will post $2.42 EPS for the current fiscal 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 business’s 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 completion of the sale, the director now owns 41,213 shares in the company, valued at approximately $3,616,028.62. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through 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 sale, 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.
A number of hedge funds have recently added to or reduced their stakes in the stock. Jennison Associates LLC increased its stake 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 shares of Nvidia Corp. during the second quarter valued at about $172,995,000. Old Mutual Global Investors UK Ltd. boosted its position in shares of 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 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 worth $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 worth $153,075,000 after buying an additional 1,570,339 shares during the period. Hedge funds and other institutional investors 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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