Cascend Securities upgraded shares of NVIDIA (NASDAQ:NVDA) from a hold rating to a buy rating in a research report released on Thursday, BenzingaRatingsTable reports. The firm currently has $190.00 price objective on the computer hardware maker’s stock.
A number of other brokerages have also recently issued reports on NVDA. Mizuho assumed coverage on LogMeIn in a report on Wednesday, March 13th. They issued a neutral rating and a $88.00 target price for the company. Stifel Nicolaus assumed coverage on Theratechnologies in a report on Tuesday, May 14th. They issued a buy rating and a C$15.00 target price for the company. Nomura assumed coverage on NVIDIA in a report on Tuesday, April 2nd. They issued a neutral rating and a $147.00 target price for the company. Deutsche Bank set a €83.00 ($96.51) target price on Gerresheimer and gave the stock a buy rating in a report on Wednesday, March 20th. Finally, BidaskClub raised Zai Lab from a buy rating to a strong-buy rating in a report on Friday, June 28th. Three research analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and twenty-six have assigned a buy rating to the stock. The stock currently has an average rating of Buy and a consensus price target of $194.34.
Shares of NVDA stock opened at $167.61 on Thursday. The company has a current ratio of 8.98, a quick ratio of 7.78 and a debt-to-equity ratio of 0.25. NVIDIA has a twelve month low of $124.46 and a twelve month high of $292.76. The company has a market cap of $102.07 billion, a P/E ratio of 27.61, a P/E/G ratio of 4.24 and a beta of 2.09. The stock’s fifty day simple moving average is $151.30.
NVIDIA (NASDAQ:NVDA) last announced its quarterly earnings data on Thursday, May 16th. The computer hardware maker reported $0.88 earnings per share for the quarter, topping the consensus estimate of $0.81 by $0.07. NVIDIA had a return on equity of 31.27% and a net margin of 30.68%. The business had revenue of $2.22 billion during the quarter, compared to the consensus estimate of $2.20 billion. During the same period in the prior year, the company earned $2.05 EPS. NVIDIA’s revenue for the quarter was down 30.8% on a year-over-year basis. On average, analysts anticipate that NVIDIA will post 4.22 EPS for the current year.
The firm also recently announced a quarterly dividend, which was paid on Friday, June 21st. Investors of record on Friday, May 31st were paid a dividend of $0.16 per share. The ex-dividend date was Thursday, May 30th. This represents a $0.64 annualized dividend and a yield of 0.38%. NVIDIA’s dividend payout ratio is currently 10.54%.
In related news, CFO Colette Kress sold 2,236 shares of the firm’s stock in a transaction that occurred on Friday, June 28th. The stock was sold at an average price of $164.01, for a total transaction of $366,726.36. Following the completion of the sale, the chief financial officer now owns 239,710 shares of the company’s stock, valued at $39,314,837.10. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Harvey C. Jones sold 100,000 shares of the firm’s stock in a transaction that occurred on Monday, June 17th. The stock was sold at an average price of $145.10, for a total value of $14,510,000.00. Following the sale, the director now directly owns 32,983 shares of the company’s stock, valued at approximately $4,785,833.30. The disclosure for this sale can be found here. Company insiders own 4.64% of the company’s stock.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in NVDA. Rehmann Capital Advisory Group boosted its holdings in NVIDIA by 28.5% in the first quarter. Rehmann Capital Advisory Group now owns 1,558 shares of the computer hardware maker’s stock worth $280,000 after acquiring an additional 346 shares in the last quarter. Norges Bank bought a new position in NVIDIA in the fourth quarter worth approximately $737,230,000. Tdam USA Inc. boosted its holdings in NVIDIA by 15.5% in the first quarter. Tdam USA Inc. now owns 1,970 shares of the computer hardware maker’s stock worth $354,000 after acquiring an additional 264 shares in the last quarter. ACG Wealth boosted its holdings in NVIDIA by 5.5% in the first quarter. ACG Wealth now owns 30,488 shares of the computer hardware maker’s stock worth $5,474,000 after acquiring an additional 1,600 shares in the last quarter. Finally, Physicians Financial Services Inc. bought a new position in NVIDIA in the first quarter worth approximately $301,000. 67.51% of the stock is owned by institutional investors and hedge funds.
NVIDIA Corp. engages in the design and manufacture of computer graphics processors, chipsets, and related multimedia software. It operates through the Graphics Processing Unit (GPU) and Tegra Processor segments. The GPU segment comprises of product brands which aims 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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