Nvidia Corp. (NASDAQ:NVDA) was upgraded by equities research analysts at Needham & Company LLC from a “hold” rating to a “buy” rating in a note issued to investors on Wednesday. The firm currently has a $100.00 target price on the computer hardware maker’s stock. Needham & Company LLC’s price objective indicates a potential upside of 7.24% from the company’s current price.

Other analysts have also recently issued research reports about the stock. RBC Capital Markets upped their target price on shares of Nvidia Corp. to $95.00 in a research report on Friday, November 11th. Canaccord Genuity upped their target price on shares of Nvidia Corp. to $70.00 and gave the company a “buy” rating in a research report on Friday, August 12th. Goldman Sachs Group Inc. upped their target price on shares of Nvidia Corp. to $70.00 and gave the company a “buy” rating in a research report on Friday, August 12th. B. Riley reiterated a “buy” rating and set a $64.50 target price on shares of Nvidia Corp. in a research report on Wednesday, August 10th. Finally, Roth Capital set a $68.00 target price on shares of Nvidia Corp. and gave the company a “buy” rating in a research report on Tuesday, August 9th. One analyst has rated the stock with a sell rating, fourteen 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 company presently has a consensus rating of “Buy” and a consensus target price of $72.50.

Analyst Recommendations for Nvidia Corp. (NASDAQ:NVDA)

Shares of Nvidia Corp. (NASDAQ:NVDA) opened at 93.25 on Wednesday. The firm has a market cap of $50.26 billion, a PE ratio of 47.65 and a beta of 1.17. The company’s 50-day moving average price is $75.70 and its 200-day moving average price is $60.35. Nvidia Corp. has a 52-week low of $24.75 and a 52-week high of $95.25.

Nvidia Corp. (NASDAQ:NVDA) last issued its earnings results on Thursday, November 10th. The computer hardware maker reported $0.94 EPS for the quarter, beating the consensus estimate of $0.57 by $0.37. The company earned $2 billion during the quarter, compared to analysts’ expectations of $1.69 billion. Nvidia Corp. had a net margin of 19.52% and a return on equity of 26.82%. The business’s revenue for the quarter was up 53.6% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.44 EPS. Equities analysts expect that Nvidia Corp. will post $2.42 earnings per share for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 19th. Stockholders of record on Monday, November 28th will be issued a dividend of $0.14 per share. 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. This represents a $0.56 annualized dividend and a dividend yield of 0.60%. Nvidia Corp.’s dividend payout ratio (DPR) is currently 29.32%.

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In related news, Director A Brooke Seawell sold 30,000 shares of the stock in a transaction that occurred on Friday, September 16th. The shares were sold at an average price of $62.52, for a total transaction of $1,875,600.00. Following the sale, the director now owns 6,213 shares in the company, valued at approximately $388,436.76. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Michael Byron sold 409 shares of the stock in a transaction that occurred on Thursday, September 1st. The stock was sold at an average price of $63.35, for a total transaction of $25,910.15. The disclosure for this sale can be found here. Insiders own 5.82% of the company’s stock.

Hedge funds have recently bought and sold shares of the company. West Oak Capital LLC raised its stake 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 valued at $107,000 after buying an additional 1,010 shares in the last quarter. Brick & Kyle Associates raised its stake 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 valued at $118,000 after buying an additional 502 shares in the last quarter. Cornerstone Advisors Inc. raised its stake 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 valued at $122,000 after buying an additional 612 shares in the last quarter. Stephens Inc. AR raised its stake 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 valued at $132,000 after buying an additional 179 shares in the last quarter. Finally, Advisors Preferred LLC raised its stake 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 valued at $158,000 after buying an additional 2,051 shares in the last quarter. Institutional investors and hedge funds own 84.86% 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.

5 Day Chart for NASDAQ:NVDA

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