Nvidia Corp. (NVDA) Upgraded by Vetr Inc. to Buy
Nvidia Corp. (NASDAQ:NVDA) was upgraded by analysts at Vetr from a “hold” rating to a “buy” rating in a research report issued on Tuesday. The brokerage currently has a $69.40 target price on the computer hardware maker’s stock. Vetr‘s price objective would indicate a potential upside of 4.94% from the stock’s previous close.
NVDA has been the subject of a number of other reports. RBC Capital Markets raised Nvidia Corp. from a “sector perform” rating to an “outperform” rating and upped their price target for the company from $47.00 to $72.00 in a report on Friday, August 12th. KeyCorp reiterated a “hold” rating on shares of Nvidia Corp. in a research note on Wednesday, July 6th. B. Riley reiterated a “buy” rating and issued a $64.50 price objective on shares of Nvidia Corp. in a research note on Wednesday, August 10th. Argus boosted their price objective on Nvidia Corp. from $54.00 to $72.00 and gave the company a “buy” rating in a research note on Monday, August 15th. Finally, Jefferies Group upgraded Nvidia Corp. to a “buy” rating and boosted their price objective for the company from $3.50 to $56.00 in a research note on Monday, June 13th. Two investment analysts have rated the stock with a sell rating, thirteen have given a hold rating and twenty have given a buy rating to the stock. Nvidia Corp. has a consensus rating of “Buy” and an average price target of $58.59.
Shares of Nvidia Corp. (NASDAQ:NVDA) traded down 1.45% during midday trading on Tuesday, hitting $66.13. 9,713,476 shares of the stock were exchanged. The firm has a 50 day moving average of $64.02 and a 200-day moving average of $50.61. The company has a market cap of $35.38 billion, a price-to-earnings ratio of 43.45 and a beta of 1.25. Nvidia Corp. has a one year low of $24.75 and a one year high of $69.70.
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Nvidia Corp. (NASDAQ:NVDA) last announced its quarterly earnings results on Thursday, August 11th. The computer hardware maker reported $0.53 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.37 by $0.16. The firm earned $1.43 billion during the quarter, compared to the consensus estimate of $1.35 billion. Nvidia Corp. had a return on equity of 20.86% and a net margin of 16.58%. The firm’s quarterly revenue was up 23.9% compared to the same quarter last year. During the same period in the prior year, the company posted $0.34 earnings per share. Equities analysts expect that Nvidia Corp. will post $1.85 EPS for the current year.
The firm also recently announced a quarterly dividend, which was paid on Friday, September 16th. Shareholders of record on Thursday, August 25th were paid a dividend of $0.115 per share. This represents a $0.46 annualized dividend and a yield of 0.70%. The ex-dividend date of this dividend was Tuesday, August 23rd. Nvidia Corp.’s payout ratio is currently 30.26%.
In other news, CEO Jen Hsun Huang sold 40,000 shares of the business’s stock in a transaction on Wednesday, July 13th. The stock was sold at an average price of $52.94, for a total value of $2,117,600.00. Following the sale, the chief executive officer now owns 1,817,279 shares of the company’s stock, valued at approximately $96,206,750.26. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Mark L. Perry sold 35,000 shares of the business’s stock in a transaction on Wednesday, July 13th. The stock was sold at an average price of $52.93, for a total value of $1,852,550.00. Following the completion of the sale, the director now directly owns 97,292 shares in the company, valued at approximately $5,149,665.56. The disclosure for this sale can be found here. Company insiders own 5.82% of the company’s stock.
Hedge funds have recently bought and sold shares of the company. Raymond James Trust N.A. increased its stake in Nvidia Corp. by 43.1% in the third quarter. Raymond James Trust N.A. now owns 6,800 shares of the computer hardware maker’s stock worth $466,000 after buying an additional 2,047 shares in the last quarter. Nepsis Capital Management Inc. purchased a new stake in Nvidia Corp. during the third quarter worth approximately $4,286,000. Thompson Rubinstein Investment Management Inc. OR purchased a new stake in Nvidia Corp. during the third quarter worth approximately $206,000. PacWest Financial Management Inc purchased a new stake in Nvidia Corp. during the third quarter worth approximately $1,342,000. Finally, Oregon Public Employees Retirement Fund increased its stake in Nvidia Corp. by 36.5% in the third quarter. Oregon Public Employees Retirement Fund now owns 155,034 shares of the computer hardware maker’s stock worth $10,623,000 after buying an additional 41,450 shares in the last quarter. 86.37% of the stock is currently owned by institutional investors.
Nvidia Corp. Company Profile
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.
To view Vetr’s full report, visit Vetr’s official website.
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