NVIDIA Corporation (NVDA) Rating Increased to Strong-Buy at Vetr Inc.
NVIDIA Corporation (NASDAQ:NVDA) was upgraded by equities researchers at Vetr from a “buy” rating to a “strong-buy” rating in a research report issued on Monday. The firm presently has a $174.03 price target on the computer hardware maker’s stock. Vetr‘s price target would suggest a potential upside of 16.04% from the company’s current price.
A number of other analysts have also weighed in on NVDA. B. Riley reiterated a “buy” rating and issued a $135.00 price objective on shares of NVIDIA Corporation in a research note on Monday, May 8th. Stifel Nicolaus reiterated a “hold” rating and issued a $90.00 price objective (up previously from $76.00) on shares of NVIDIA Corporation in a research note on Thursday, February 16th. Canaccord Genuity reiterated a “buy” rating on shares of NVIDIA Corporation in a research note on Saturday, June 3rd. Jefferies Group LLC reiterated a “buy” rating and issued a $140.00 price objective on shares of NVIDIA Corporation in a research note on Friday, June 2nd. Finally, Goldman Sachs Group, Inc. (The) reiterated a “buy” rating and issued a $165.00 price objective (up previously from $130.00) on shares of NVIDIA Corporation in a research note on Monday, May 15th. Six equities research analysts have rated the stock with a sell rating, fourteen have given a hold rating, seventeen have assigned a buy rating and three have issued a strong buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus price target of $117.83.
NVIDIA Corporation (NASDAQ:NVDA) traded up 0.25% during midday trading on Monday, reaching $149.97. 42,438,280 shares of the company’s stock were exchanged. The stock’s 50-day moving average is $127.68 and its 200-day moving average is $109.81. The stock has a market capitalization of $89.23 billion, a price-to-earnings ratio of 50.34 and a beta of 1.24. NVIDIA Corporation has a 12-month low of $44.57 and a 12-month high of $168.50. NVIDIA Corporation also was the recipient of unusually large options trading activity on Friday. Stock traders acquired 421,770 call options on the company. This represents an increase of approximately 347% compared to the average volume of 94,279 call options.
NVIDIA Corporation (NASDAQ:NVDA) last released its quarterly earnings data on Tuesday, May 9th. The computer hardware maker reported $0.82 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.66 by $0.16. The firm had revenue of $1.94 billion for the quarter, compared to analyst estimates of $1.91 billion. NVIDIA Corporation had a net margin of 25.95% and a return on equity of 36.40%. The business’s quarterly revenue was up 48.7% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.46 earnings per share. On average, equities analysts forecast that NVIDIA Corporation will post $3.09 earnings per share for the current year.
The business also recently declared a quarterly dividend, which will be paid on Wednesday, June 14th. Stockholders of record on Tuesday, May 23rd will be paid a $0.14 dividend. This represents a $0.56 dividend on an annualized basis and a dividend yield of 0.37%. The ex-dividend date of this dividend is Friday, May 19th. NVIDIA Corporation’s dividend payout ratio (DPR) is 18.60%.
In other news, Director Persis Drell sold 2,500 shares of the business’s stock in a transaction that occurred on Thursday, May 18th. The shares were sold at an average price of $130.02, for a total value of $325,050.00. Following the sale, the director now directly owns 24,652 shares of the company’s stock, valued at approximately $3,205,253.04. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Tench Coxe sold 50,000 shares of the business’s stock in a transaction that occurred on Thursday, May 11th. The shares were 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 sold a total of 496,582 shares of company stock worth $63,347,180 over the last three months. Insiders own 5.17% of the company’s stock.
Several large investors have recently added to or reduced their stakes in the stock. Turner Investments LLC bought a new stake in NVIDIA Corporation during the fourth quarter worth about $1,921,000. Wetherby Asset Management Inc. increased its stake in NVIDIA Corporation by 0.5% in the fourth quarter. Wetherby Asset Management Inc. now owns 7,483 shares of the computer hardware maker’s stock worth $799,000 after buying an additional 38 shares during the period. Robertson Stephens Advisors LLC bought a new stake in NVIDIA Corporation during the fourth quarter worth about $320,000. Comerica Bank increased its stake in NVIDIA Corporation by 1.4% in the fourth quarter. Comerica Bank now owns 156,915 shares of the computer hardware maker’s stock worth $16,230,000 after buying an additional 2,144 shares during the period. Finally, Handelsbanken Fonder AB increased its stake in NVIDIA Corporation by 188.8% in the fourth quarter. Handelsbanken Fonder AB now owns 231,000 shares of the computer hardware maker’s stock worth $24,657,000 after buying an additional 151,000 shares during the period. 70.08% of the stock is currently owned by institutional investors and hedge funds.
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.
To view Vetr’s full report, visit Vetr’s official website.
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