Vetr Inc. Upgrades Nvidia Corp. (NVDA) to “Sell”
Nvidia Corp. (NASDAQ:NVDA) was upgraded by stock analysts at Vetr from a “strong sell” rating to a “sell” rating in a note issued to investors on Tuesday. The brokerage currently has a $80.58 price target on the computer hardware maker’s stock. Vetr‘s target price points to a potential downside of 12.06% from the company’s current price.
Several other research analysts have also commented on NVDA. Canaccord Genuity reiterated a “buy” rating and set a $60.00 price target on shares of Nvidia Corp. in a report on Monday, July 18th. Needham & Company LLC reiterated a “buy” rating on shares of Nvidia Corp. in a report on Monday, July 18th. B. Riley reiterated a “buy” rating and set a $64.50 price target on shares of Nvidia Corp. in a report on Tuesday, July 26th. Pacific Crest reiterated a “hold” rating on shares of Nvidia Corp. in a report on Friday, August 5th. Finally, Jefferies Group boosted their price objective on shares of Nvidia Corp. from $56.00 to $69.00 and gave the company a “buy” rating in a report on Monday, August 8th. Two equities research 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 stock. Nvidia Corp. has an average rating of “Buy” and a consensus target price of $71.58.
Nvidia Corp. (NASDAQ:NVDA) opened at 91.63 on Tuesday. Nvidia Corp. has a one year low of $24.75 and a one year high of $92.56. The firm’s 50-day moving average is $70.47 and its 200 day moving average is $57.09. The company has a market capitalization of $49.30 billion, a PE ratio of 46.82 and a beta of 1.17.
Nvidia Corp. (NASDAQ:NVDA) last posted its quarterly earnings results on Thursday, November 10th. The computer hardware maker reported $0.94 EPS for the quarter, topping the consensus estimate of $0.57 by $0.37. Nvidia Corp. had a return on equity of 26.82% and a net margin of 19.52%. The business had revenue of $2 billion for the quarter, compared to analyst estimates of $1.69 billion. During the same quarter in the previous year, the firm earned $0.44 EPS. The company’s quarterly revenue was up 53.6% compared to the same quarter last year. On average, equities analysts expect that Nvidia Corp. will post $2.42 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Monday, December 19th. Investors of record on Monday, November 28th will be issued a dividend of $0.14 per share. This is an increase from Nvidia Corp.’s previous quarterly dividend of $0.12. This represents a $0.56 annualized dividend and a dividend yield of 0.61%. The ex-dividend date of this dividend is Wednesday, November 23rd. Nvidia Corp.’s dividend payout ratio (DPR) is presently 24.08%.
In related news, insider Michael Byron sold 409 shares of the firm’s stock in a transaction dated Thursday, September 1st. The stock was sold at an average price of $63.35, for a total transaction of $25,910.15. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CFO Colette Kress sold 38,039 shares of the firm’s stock in a transaction dated Monday, August 29th. The shares were sold at an average price of $62.18, for a total value of $2,365,265.02. Following the sale, the chief financial officer now owns 512,374 shares in the company, valued at $31,859,415.32. The disclosure for this sale can be found here. Corporate insiders own 5.82% of the company’s stock.
A number of large investors have recently bought and sold shares of the company. Columbus Circle Investors raised its position in shares of Nvidia Corp. by 22.2% in the second quarter. Columbus Circle Investors now owns 1,087,665 shares of the computer hardware maker’s stock valued at $51,131,000 after buying an additional 197,299 shares during the last quarter. Trinity Street Asset Management LLP raised its position in shares of Nvidia Corp. by 154.6% in the second quarter. Trinity Street Asset Management LLP now owns 563,363 shares of the computer hardware maker’s stock valued at $26,483,000 after buying an additional 342,092 shares during the last quarter. Legal & General Group Plc raised its position in shares of Nvidia Corp. by 5.1% in the first quarter. Legal & General Group Plc now owns 2,243,547 shares of the computer hardware maker’s stock valued at $79,938,000 after buying an additional 107,884 shares during the last quarter. AGF Investments Inc. purchased a new position in shares of Nvidia Corp. during the second quarter valued at approximately $49,132,000. Finally, Nordea Investment Management AB raised its position in shares of Nvidia Corp. by 114.1% in the second quarter. Nordea Investment Management AB now owns 33,823 shares of the computer hardware maker’s stock valued at $1,590,000 after buying an additional 18,023 shares during the last quarter. 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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