Needham & Company LLC Boosts NVIDIA Corporation (NVDA) Price Target to $250.00
NVIDIA Corporation (NASDAQ:NVDA) had its target price hoisted by Needham & Company LLC from $200.00 to $250.00 in a research note issued to investors on Friday morning, MarketBeat reports. They currently have a buy rating on the computer hardware maker’s stock.
Several other brokerages also recently weighed in on NVDA. Mizuho reaffirmed a buy rating and set a $180.00 price target (up from $170.00) on shares of NVIDIA Corporation in a report on Friday, August 11th. Susquehanna Bancshares Inc reaffirmed a neutral rating and set a $140.00 price target on shares of NVIDIA Corporation in a report on Wednesday, August 16th. Bank of America Corporation reaffirmed a buy rating and set a $185.00 price target on shares of NVIDIA Corporation in a report on Wednesday, June 21st. Vetr downgraded NVIDIA Corporation from a buy rating to a hold rating and set a $172.54 price target for the company. in a report on Thursday, August 31st. Finally, Zacks Investment Research raised NVIDIA Corporation from a hold rating to a strong-buy rating and set a $169.00 price target for the company in a report on Tuesday, July 11th. Six equities research analysts have rated the stock with a sell rating, eleven have issued a hold rating, twenty-four have assigned a buy rating and one has issued a strong buy rating to the company. NVIDIA Corporation currently has a consensus rating of Hold and an average target price of $160.31.
NVIDIA Corporation (NASDAQ NVDA) opened at 194.59 on Friday. The stock’s 50 day moving average is $176.52 and its 200 day moving average is $148.92. NVIDIA Corporation has a 12-month low of $65.52 and a 12-month high of $195.00. The stock has a market capitalization of $116.75 billion, a price-to-earnings ratio of 55.96 and a beta of 1.28.
NVIDIA Corporation (NASDAQ:NVDA) last issued its quarterly earnings results on Thursday, August 10th. The computer hardware maker reported $1.01 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.69 by $0.32. NVIDIA Corporation had a return on equity of 39.59% and a net margin of 27.41%. The firm had revenue of $2.23 billion during the quarter, compared to the consensus estimate of $1.96 billion. During the same period last year, the company earned $0.53 earnings per share. The company’s revenue for the quarter was up 56.2% on a year-over-year basis. Equities research analysts forecast that NVIDIA Corporation will post $3.64 EPS for the current fiscal year.
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The business also recently announced a quarterly dividend, which was paid on Monday, September 18th. Investors of record on Thursday, August 24th were issued a dividend of $0.14 per share. The ex-dividend date was Tuesday, August 22nd. This represents a $0.56 annualized dividend and a dividend yield of 0.29%. NVIDIA Corporation’s payout ratio is currently 15.86%.
In related news, Director Mark L. Perry sold 16,281 shares of the firm’s stock in a transaction dated Monday, August 14th. The stock was sold at an average price of $162.24, for a total transaction of $2,641,429.44. Following the sale, the director now directly owns 48,069 shares in the company, valued at approximately $7,798,714.56. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, insider Michael Byron sold 409 shares of the firm’s stock in a transaction dated Friday, September 1st. The shares were sold at an average price of $171.01, for a total value of $69,943.09. Following the sale, the insider now owns 136,199 shares in the company, valued at $23,291,390.99. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 452,784 shares of company stock worth $81,437,724. Company insiders own 5.17% of the company’s stock.
Several large investors have recently made changes to their positions in NVDA. Arizona State Retirement System increased its holdings in NVIDIA Corporation by 9.5% during the 1st quarter. Arizona State Retirement System now owns 145,816 shares of the computer hardware maker’s stock worth $15,884,000 after purchasing an additional 12,600 shares during the last quarter. American International Group Inc. increased its holdings in NVIDIA Corporation by 7.0% during the 1st quarter. American International Group Inc. now owns 260,136 shares of the computer hardware maker’s stock worth $28,337,000 after purchasing an additional 17,013 shares during the last quarter. ProVise Management Group LLC increased its holdings in NVIDIA Corporation by 5.1% during the 1st quarter. ProVise Management Group LLC now owns 4,195 shares of the computer hardware maker’s stock worth $457,000 after purchasing an additional 203 shares during the last quarter. Cibc World Markets Corp increased its holdings in NVIDIA Corporation by 188.5% during the 1st quarter. Cibc World Markets Corp now owns 114,514 shares of the computer hardware maker’s stock worth $12,474,000 after purchasing an additional 74,824 shares during the last quarter. Finally, Cornerstone Capital Management Holdings LLC. increased its holdings in NVIDIA Corporation by 21.8% during the 1st quarter. Cornerstone Capital Management Holdings LLC. now owns 199,646 shares of the computer hardware maker’s stock worth $21,746,000 after purchasing an additional 35,776 shares during the last quarter. 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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