NVIDIA Corporation (NVDA) Shares Gap Up Following Analyst Upgrade
NVIDIA Corporation (NASDAQ:NVDA) shares gapped up before the market opened on Monday after Evercore ISI raised their price target on the stock from $180.00 to $250.00. The stock had previously closed at $187.36, but opened at $180.11. Evercore ISI currently has an outperform rating on the stock. NVIDIA Corporation shares last traded at $189.55, with a volume of 24,451,074 shares traded.
Other research analysts have also recently issued research reports about the stock. UBS AG restated a “buy” rating and set a $148.00 target price (up previously from $135.00) on shares of NVIDIA Corporation in a report on Friday, May 19th. Susquehanna Bancshares Inc restated a “neutral” rating on shares of NVIDIA Corporation in a report on Monday, July 3rd. B. Riley restated a “buy” rating and set a $200.00 target price (up previously from $135.00) on shares of NVIDIA Corporation in a report on Monday, August 7th. Vetr cut shares of NVIDIA Corporation from a “buy” rating to a “hold” rating and set a $142.10 price target for the company. in a research note on Tuesday, May 23rd. Finally, BidaskClub cut shares of NVIDIA Corporation from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, June 28th. Six investment analysts have rated the stock with a sell rating, twelve have assigned a hold rating, twenty-two have assigned a buy rating and one has issued a strong buy rating to the company. The company presently has an average rating of “Hold” and an average price target of $149.20.
In related news, Director Harvey C. Jones sold 100,000 shares of NVIDIA Corporation stock in a transaction that occurred on Monday, July 10th. The shares were sold at an average price of $150.29, for a total transaction of $15,029,000.00. Following the sale, the director now directly owns 30,762 shares in the company, valued at approximately $4,623,220.98. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Jen Hsun Huang sold 110,000 shares of NVIDIA Corporation stock in a transaction that occurred on Wednesday, September 6th. The stock was sold at an average price of $166.08, for a total transaction of $18,268,800.00. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 502,210 shares of company stock worth $79,743,664. 5.17% of the stock is owned by corporate insiders.
A number of large investors have recently bought and sold shares of NVDA. LS Investment Advisors LLC boosted its position in NVIDIA Corporation by 30.3% during the 1st quarter. LS Investment Advisors LLC now owns 10,753 shares of the computer hardware maker’s stock worth $1,171,000 after buying an additional 2,501 shares during the period. Swiss National Bank lifted its position in shares of NVIDIA Corporation by 28.2% in the 1st quarter. Swiss National Bank now owns 1,909,885 shares of the computer hardware maker’s stock worth $208,044,000 after purchasing an additional 419,800 shares during the period. World Asset Management Inc lifted its position in shares of NVIDIA Corporation by 29.5% in the 1st quarter. World Asset Management Inc now owns 63,817 shares of the computer hardware maker’s stock worth $6,952,000 after purchasing an additional 14,535 shares during the period. Morse Asset Management Inc acquired a new position in shares of NVIDIA Corporation in the 1st quarter worth approximately $1,034,000. Finally, Main Street Research LLC acquired a new position in shares of NVIDIA Corporation in the 1st quarter worth approximately $324,000. Institutional investors and hedge funds own 65.79% of the company’s stock.
The stock has a 50-day moving average price of $166.30 and a 200 day moving average price of $136.97. The stock has a market cap of $113.62 billion, a PE ratio of 54.46 and a beta of 1.25.
NVIDIA Corporation (NASDAQ:NVDA) last released its quarterly earnings data on Thursday, August 10th. The computer hardware maker reported $1.01 earnings per share for the quarter, beating analysts’ consensus estimates of $0.69 by $0.32. The firm had revenue of $2.23 billion during the quarter, compared to analyst estimates of $1.96 billion. NVIDIA Corporation had a return on equity of 39.59% and a net margin of 27.41%. The business’s quarterly revenue was up 56.2% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.53 earnings per share. Analysts forecast that NVIDIA Corporation will post $3.61 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Monday, September 18th. Stockholders of record on Thursday, August 24th will be paid a dividend of $0.14 per share. This represents a $0.56 dividend on an annualized basis and a dividend yield of 0.31%. The ex-dividend date of this dividend is Tuesday, August 22nd. NVIDIA Corporation’s dividend payout ratio (DPR) is presently 15.86%.
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NVIDIA Corporation Company Profile
Nvidia Corporation focuses on personal computer (PC) graphics, graphics processing unit (GPU) and also on artificial intelligence (AI). The Company’s operates through two segments: GPU and Tegra Processor. The Company’s GPU product brands are aimed at specialized markets, including GeForce for gamers; Quadro for designers; Tesla and DGX for AI data scientists and big data researchers; and GRID for cloud-based visual computing users.
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