Nvidia Corp. (NVDA) Price Target Raised to $106.00
Nvidia Corp. (NASDAQ:NVDA) had its price objective boosted by stock analysts at MKM Partners from $87.00 to $106.00 in a research note issued to investors on Tuesday. The brokerage currently has a “buy” rating on the computer hardware maker’s stock. MKM Partners’ target price indicates a potential upside of 14.00% from the company’s previous close.
Other equities analysts have also issued reports about the stock. RBC Capital Markets increased their price objective on shares of Nvidia Corp. to $95.00 in a research report on Friday, November 11th. B. Riley reaffirmed a “buy” rating and issued a $64.50 price objective on shares of Nvidia Corp. in a research report on Tuesday, July 26th. Roth Capital set a $68.00 price target on shares of Nvidia Corp. and gave the stock a “buy” rating in a research report on Tuesday, August 9th. Jefferies Group raised their price target on shares of Nvidia Corp. from $56.00 to $69.00 and gave the stock a “buy” rating in a research report on Monday, August 8th. Finally, Mizuho raised their price target on shares of Nvidia Corp. to $66.00 and gave the stock a “buy” rating in a research report on Friday, August 12th. Two 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 assigned a strong buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and a consensus price target of $72.15.
Nvidia Corp. (NASDAQ:NVDA) traded up 0.51% during trading on Tuesday, hitting $93.45. 5,574,693 shares of the company’s stock were exchanged. The firm has a market cap of $50.28 billion, a price-to-earnings ratio of 47.75 and a beta of 1.17. Nvidia Corp. has a 12-month low of $24.75 and a 12-month high of $94.79. The company’s 50-day moving average price is $72.58 and its 200 day moving average price is $58.49.
Nvidia Corp. (NASDAQ:NVDA) last announced its quarterly earnings data on Thursday, November 10th. The computer hardware maker reported $0.94 EPS 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 analyst estimates of $1.69 billion. Nvidia Corp. had a net margin of 19.52% and a return on equity of 26.82%. Nvidia Corp.’s revenue was up 53.6% on a year-over-year basis. During the same period last year, the firm posted $0.44 EPS. Equities analysts forecast that Nvidia Corp. will post $2.42 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Monday, December 19th. Stockholders of record on Monday, November 28th will be paid a dividend of $0.14 per share. This represents a $0.56 annualized dividend and a dividend yield of 0.60%. 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 dividend payout ratio is 24.08%.
In other news, CFO Colette Kress sold 38,039 shares of the company’s stock in a transaction that occurred on Monday, August 29th. The stock was 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 in the company, valued at $31,859,415.32. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Tench Coxe sold 48,000 shares of the company’s stock in a transaction that occurred on Monday, September 19th. The stock was sold at an average price of $63.66, for a total value of $3,055,680.00. The disclosure for this sale can be found here. Insiders own 5.82% of the company’s stock.
Large investors have recently added to or reduced their stakes in the company. GSA Capital Partners LLP bought a new stake in Nvidia Corp. during the second quarter valued at approximately $3,248,000. Benjamin F. Edwards & Company Inc. boosted its position in Nvidia Corp. by 920.0% in the second quarter. Benjamin F. Edwards & Company Inc. now owns 5,100 shares of the computer hardware maker’s stock valued at $240,000 after buying an additional 4,600 shares during the last quarter. Hollencrest Securities LLC acquired a new position in Nvidia Corp. during the second quarter valued at about $245,000. Exxonmobil Investment Management Inc. TX boosted its position in Nvidia Corp. by 5.5% in the second quarter. Exxonmobil Investment Management Inc. TX now owns 131,315 shares of the computer hardware maker’s stock valued at $6,173,000 after buying an additional 6,875 shares during the last quarter. Finally, DNB Asset Management AS boosted its position in Nvidia Corp. by 3.5% in the second quarter. DNB Asset Management AS now owns 44,828 shares of the computer hardware maker’s stock valued at $2,107,000 after buying an additional 1,500 shares during the last quarter. Institutional investors and hedge funds own 86.85% 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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