RBC Capital Upgrades NVIDIA to Outperform (NVDA)
NVIDIA (NASDAQ:NVDA) was upgraded by equities researchers at RBC Capital from a “sector perform” rating to an “outperform” rating in a research report issued on Monday, TheFlyOnTheWall.com reports.
In other NVIDIA news, CAO David Shannon unloaded 2,446 shares of NVIDIA stock on the open market in a transaction that occurred on Tuesday, May 13th. The stock was sold at an average price of $18.45, for a total transaction of $45,128.70. Following the sale, the chief accounting officer now directly owns 240,917 shares of the company’s stock, valued at approximately $4,444,919. The transaction was disclosed in a legal filing with the SEC, which is available at this link.
A number of other analysts have also recently weighed in on NVDA. Analysts at Zacks reiterated a “neutral” rating on shares of NVIDIA in a research note on Wednesday, May 14th. They now have a $19.00 price target on the stock. Separately, analysts at Wedbush raised their price target on shares of NVIDIA from $21.00 to $22.00 in a research note on Friday, May 9th. Finally, analysts at Roth Capital raised their price target on shares of NVIDIA from $20.00 to $22.00 in a research note on Friday, May 9th. Two analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and seven have assigned a buy rating to the company. NVIDIA presently has an average rating of “Hold” and an average price target of $18.77.
Shares of NVIDIA (NASDAQ:NVDA) opened at 17.96 on Monday. NVIDIA has a one year low of $13.11 and a one year high of $19.46. The stock has a 50-day moving average of $18.46 and a 200-day moving average of $16.92. The company has a market cap of $10.041 billion and a price-to-earnings ratio of 21.13.
NVIDIA (NASDAQ:NVDA) last released its earnings data on Tuesday, May 6th. The company reported $0.29 earnings per share for the quarter, beating the analysts’ consensus estimate of $0.17 by $0.12. The company had revenue of $1.10 million for the quarter, compared to the consensus estimate of $1.06 million. During the same quarter last year, the company posted $0.13 earnings per share. NVIDIA’s revenue was up 15.5% compared to the same quarter last year. On average, analysts predict that NVIDIA will post $0.92 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which is scheduled for Friday, June 13th. Shareholders of record on Thursday, May 22nd will be paid a dividend of $0.085 per share. This represents a $0.34 annualized dividend and a dividend yield of 1.89%. The ex-dividend date is Tuesday, May 20th.
NVIDIA Corporation (NASDAQ:NVDA) is engaged in creating the graphics chips used in personal computers (PCs).
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