NVIDIA Corporation (NVDA) Price Target Increased to $205.00 by Analysts at Loop Capital
NVIDIA Corporation (NASDAQ:NVDA) had its price target increased by Loop Capital from $181.00 to $205.00 in a research note issued to investors on Thursday morning. They currently have a buy rating on the computer hardware maker’s stock.
Other equities analysts have also recently issued reports about the stock. UBS AG reissued a buy rating and set a $168.00 price target (up from $148.00) on shares of NVIDIA Corporation in a research report on Friday, June 9th. Susquehanna Bancshares Inc reissued a neutral rating on shares of NVIDIA Corporation in a research report on Monday, July 3rd. B. Riley reissued a buy rating and set a $200.00 price target (up from $135.00) on shares of NVIDIA Corporation in a research report on Monday, August 7th. BidaskClub cut shares of NVIDIA Corporation from a strong-buy rating to a buy rating in a research report on Wednesday, June 28th. Finally, Stifel Nicolaus restated a hold rating and set a $110.00 price objective on shares of NVIDIA Corporation in a report on Friday, August 11th. Six analysts have rated the stock with a sell rating, twelve have assigned a hold rating, twenty-three have issued a buy rating and one has assigned a strong buy rating to the company. The stock presently has a consensus rating of Hold and a consensus target price of $155.31.
Shares of NVIDIA Corporation (NVDA) traded up 0.29% during mid-day trading on Thursday, reaching $181.30. 7,969,957 shares of the company’s stock traded hands. NVIDIA Corporation has a 52 week low of $63.70 and a 52 week high of $191.20. The firm has a market cap of $108.78 billion, a price-to-earnings ratio of 52.14 and a beta of 1.28. The company’s 50 day moving average is $172.25 and its 200-day moving average is $145.37.
NVIDIA Corporation (NASDAQ:NVDA) last announced its quarterly earnings results on Thursday, August 10th. The computer hardware maker reported $1.01 earnings per share for the quarter, topping analysts’ consensus estimates of $0.69 by $0.32. The company had revenue of $2.23 billion for the quarter, compared to analysts’ expectations of $1.96 billion. NVIDIA Corporation had a net margin of 27.41% and a return on equity of 39.59%. The business’s quarterly revenue was up 56.2% compared to the same quarter last year. During the same period last year, the firm posted $0.53 earnings per share. Equities analysts expect that NVIDIA Corporation will post $3.63 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Monday, September 18th. Stockholders of record on Thursday, August 24th were issued 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 was Tuesday, August 22nd. NVIDIA Corporation’s dividend payout ratio (DPR) is presently 15.86%.
In related news, insider Jen Hsun Huang sold 110,000 shares of the company’s stock in a transaction that occurred on Wednesday, September 6th. The shares were sold at an average price of $166.08, for a total transaction of $18,268,800.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, Director A Brooke Seawell sold 30,000 shares of the company’s stock in a transaction that occurred on Friday, September 1st. The stock was sold at an average price of $170.19, for a total transaction of $5,105,700.00. Following the transaction, the director now owns 16,507 shares of the company’s stock, valued at $2,809,326.33. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 496,478 shares of company stock valued at $85,901,012. 5.82% of the stock is currently owned by insiders.
Hedge funds have recently added to or reduced their stakes in the stock. Cibc World Markets Corp increased its position in NVIDIA Corporation by 12.1% during the 2nd quarter. Cibc World Markets Corp now owns 128,316 shares of the computer hardware maker’s stock worth $18,549,000 after purchasing an additional 13,802 shares in the last quarter. Meiji Yasuda Life Insurance Co increased its position in NVIDIA Corporation by 9.9% during the 2nd quarter. Meiji Yasuda Life Insurance Co now owns 11,070 shares of the computer hardware maker’s stock worth $1,600,000 after purchasing an additional 1,000 shares in the last quarter. RB Capital Management LLC acquired a new position in NVIDIA Corporation during the 2nd quarter worth approximately $272,000. Oppenheimer Asset Management Inc. increased its position in NVIDIA Corporation by 17.8% during the 2nd quarter. Oppenheimer Asset Management Inc. now owns 18,786 shares of the computer hardware maker’s stock worth $2,715,000 after purchasing an additional 2,836 shares in the last quarter. Finally, D. Scott Neal Inc. acquired a new position in NVIDIA Corporation during the 2nd quarter worth approximately $258,000. Institutional investors and hedge funds own 65.79% of the company’s stock.
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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