NVIDIA Co. (NVDA) Earns Buy Rating from Rosenblatt Securities
NVIDIA Co. (NASDAQ:NVDA)‘s stock had its “buy” rating reiterated by Rosenblatt Securities in a research report issued on Friday. They presently have a $140.00 price objective on the computer hardware maker’s stock. Rosenblatt Securities’ target price indicates a potential upside of 5.21% from the company’s previous close.
Several other brokerages also recently issued reports on NVDA. BMO Capital Markets restated an “underperform” rating and set a $85.00 price objective on shares of NVIDIA in a research report on Wednesday, May 10th. Susquehanna Bancshares Inc reiterated a “neutral” rating and issued a $110.00 price target (up from $95.00) on shares of NVIDIA in a research report on Thursday, February 16th. Roth Capital reiterated a “neutral” rating on shares of NVIDIA in a research report on Wednesday, May 10th. Zacks Investment Research downgraded shares of NVIDIA from a “buy” rating to a “hold” rating in a research report on Tuesday, February 14th. Finally, Royal Bank of Canada lifted their price target on shares of NVIDIA from $115.00 to $124.00 and gave the company an “outperform” rating in a research report on Thursday, February 2nd. Six research analysts have rated the stock with a sell rating, fifteen have issued a hold rating, sixteen have given a buy rating and three have issued a strong buy rating to the stock. The company presently has a consensus rating of “Hold” and an average target price of $109.34.
Shares of NVIDIA (NASDAQ:NVDA) traded up 2.31% during trading on Friday, reaching $136.00. The company had a trading volume of 25,459,271 shares. NVIDIA has a 12 month low of $43.75 and a 12 month high of $138.22. The firm has a 50 day moving average price of $107.87 and a 200 day moving average price of $101.90. The company has a market cap of $80.51 billion, a price-to-earnings ratio of 45.65 and a beta of 1.31.
NVIDIA (NASDAQ:NVDA) last issued its quarterly earnings data on Tuesday, May 9th. The computer hardware maker reported $0.82 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.66 by $0.16. The firm had revenue of $1.94 billion during the quarter, compared to the consensus estimate of $1.91 billion. NVIDIA had a net margin of 23.82% and a return on equity of 34.13%. The business’s revenue for the quarter was up 48.7% compared to the same quarter last year. During the same period last year, the business posted $0.46 earnings per share. Analysts predict that NVIDIA will post $3.08 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Wednesday, June 14th. Investors of record on Tuesday, May 23rd 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 0.42%. The ex-dividend date of this dividend is Friday, May 19th. NVIDIA’s payout ratio is currently 21.96%.
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In other NVIDIA news, Director A Brooke Seawell sold 32,820 shares of the stock in a transaction that occurred on Monday, March 20th. The shares were sold at an average price of $109.00, for a total value of $3,577,380.00. Following the sale, the director now directly owns 35,927 shares in the company, valued at approximately $3,916,043. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Tench Coxe sold 50,000 shares of the stock in a transaction that occurred on Thursday, May 11th. The stock was sold at an average price of $129.48, for a total transaction of $6,474,000.00. The disclosure for this sale can be found here. Insiders have sold a total of 312,240 shares of company stock worth $34,347,618 over the last 90 days. 5.82% of the stock is currently owned by corporate insiders.
A number of hedge funds have recently bought and sold shares of the company. Vanguard Group Inc. boosted its stake in NVIDIA by 7.4% in the first quarter. Vanguard Group Inc. now owns 37,580,211 shares of the computer hardware maker’s stock valued at $4,093,612,000 after buying an additional 2,597,209 shares in the last quarter. Baillie Gifford & Co. boosted its stake in NVIDIA by 36.7% in the fourth quarter. Baillie Gifford & Co. now owns 14,140,920 shares of the computer hardware maker’s stock valued at $1,509,402,000 after buying an additional 3,795,368 shares in the last quarter. Jennison Associates LLC boosted its stake in NVIDIA by 36.6% in the third quarter. Jennison Associates LLC now owns 12,844,514 shares of the computer hardware maker’s stock valued at $880,106,000 after buying an additional 3,441,948 shares in the last quarter. Edgewood Management LLC boosted its stake in NVIDIA by 21.9% in the first quarter. Edgewood Management LLC now owns 5,987,970 shares of the computer hardware maker’s stock valued at $652,270,000 after buying an additional 1,074,303 shares in the last quarter. Finally, Janus Capital Management LLC boosted its stake in NVIDIA by 20.0% in the first quarter. Janus Capital Management LLC now owns 5,368,881 shares of the computer hardware maker’s stock valued at $584,832,000 after buying an additional 895,591 shares in the last quarter. Institutional investors and hedge funds own 85.00% of the company’s stock.
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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