NVIDIA Co. (NASDAQ:NVDA) was downgraded by research analysts at Vetr from a “strong-buy” rating to a “buy” rating in a research report issued on Tuesday, April 18th. They presently have a $111.03 price target on the computer hardware maker’s stock. Vetr‘s price objective suggests a potential downside of 16.56% from the company’s current price.
Several other analysts have also recently weighed in 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 Monday, April 17th. Goldman Sachs Group Inc restated a “buy” rating and set a $130.00 price objective on shares of NVIDIA in a research report on Friday, April 14th. Zacks Investment Research cut shares of NVIDIA from a “hold” rating to a “sell” rating in a research report on Thursday, April 13th. Citigroup Inc set a $145.00 target price on shares of NVIDIA and gave the company a “buy” rating in a report on Thursday, April 6th. Finally, Oppenheimer Holdings Inc. reaffirmed a “market perform” rating on shares of NVIDIA in a report on Thursday, April 6th. Six analysts have rated the stock with a sell rating, fifteen have assigned a hold rating, sixteen have issued a buy rating and three have assigned a strong buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus price target of $109.34.
NVIDIA (NASDAQ:NVDA) traded up 2.17% on Tuesday, reaching $135.96. The company’s stock had a trading volume of 21,268,266 shares. The firm’s 50 day moving average is $107.87 and its 200-day moving average is $101.90. The firm has a market cap of $80.49 billion, a P/E ratio of 45.64 and a beta of 1.31. NVIDIA has a 12 month low of $43.75 and a 12 month high of $138.22.
NVIDIA (NASDAQ:NVDA) last posted its earnings results 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. NVIDIA had a net margin of 23.82% and a return on equity of 34.13%. The business had revenue of $1.94 billion for the quarter, compared to analysts’ expectations of $1.91 billion. During the same period in the prior year, the company posted $0.46 EPS. The business’s revenue for the quarter was up 48.7% compared to the same quarter last year. On average, equities research analysts anticipate that NVIDIA will post $3.08 EPS 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 issued a $0.14 dividend. This represents a $0.56 dividend on an annualized basis and a dividend yield of 0.42%. The ex-dividend date is Friday, May 19th. NVIDIA’s payout ratio is presently 21.96%.
In other NVIDIA news, EVP Ajay K. Puri sold 133,542 shares of the stock in a transaction dated Thursday, March 30th. The shares were sold at an average price of $108.53, for a total transaction of $14,493,313.26. Following the transaction, the executive vice president now directly owns 601,367 shares in the company, valued at approximately $65,266,360.51. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Tench Coxe sold 50,000 shares of the stock in a transaction dated 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. Over the last 90 days, insiders sold 312,240 shares of company stock worth $34,347,618. Company insiders own 5.82% of the company’s stock.
Hedge funds have recently added to or reduced their stakes in the stock. Norges Bank purchased a new stake in NVIDIA during the fourth quarter valued at approximately $526,137,000. Baillie Gifford & Co. raised 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 during the last quarter. Jennison Associates LLC raised 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 during the last quarter. Wellington Management Group LLP raised its stake in NVIDIA by 499.0% in the first quarter. Wellington Management Group LLP now owns 4,104,980 shares of the computer hardware maker’s stock valued at $447,156,000 after buying an additional 3,419,701 shares during the last quarter. Finally, Vanguard Group Inc. raised 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 during the last quarter. 85.00% of the stock is owned by institutional investors and hedge funds.
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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