NVIDIA Corporation (NVDA) Price Target Raised to $190.00 at Canaccord Genuity

NVIDIA Corporation (NASDAQ:NVDA) had its price target boosted by Canaccord Genuity from $180.00 to $190.00 in a research report report published on Monday. They currently have a buy rating on the computer hardware maker’s stock.

Several other equities research analysts have also commented on NVDA. B. Riley restated a buy rating and set a $135.00 price target on shares of NVIDIA Corporation in a research note on Monday, May 8th. UBS AG restated a buy rating and set a $132.00 price target on shares of NVIDIA Corporation in a research note on Wednesday, May 10th. Stifel Nicolaus restated a hold rating and set a $110.00 price target on shares of NVIDIA Corporation in a research note on Friday, August 11th. Vetr lowered NVIDIA Corporation from a strong-buy rating to a hold rating and set a $173.32 price target for the company. in a research note on Tuesday. Finally, Instinet restated a reduce rating and set a $110.00 price target (up from $90.00) on shares of NVIDIA Corporation in a research note on Monday. Six equities research analysts have rated the stock with a sell rating, twelve have assigned a hold rating, nineteen have issued a buy rating and three have assigned a strong buy rating to the stock. The stock presently has a consensus rating of Hold and an average target price of $145.00.

NVIDIA Corporation (NASDAQ NVDA) traded up 0.625% during trading on Monday, reaching $162.479. The company’s stock had a trading volume of 12,012,440 shares. The company has a market capitalization of $97.00 billion, a P/E ratio of 46.730 and a beta of 1.24. The company’s 50-day moving average is $161.14 and its 200-day moving average is $129.00. NVIDIA Corporation has a 1-year low of $57.32 and a 1-year high of $174.56.

NVIDIA Corporation (NASDAQ:NVDA) last announced its quarterly earnings results on Thursday, August 10th. The computer hardware maker reported $1.01 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.69 by $0.32. The company had revenue of $2.23 billion during the quarter, compared to analyst estimates of $1.96 billion. NVIDIA Corporation had a return on equity of 39.59% and a net margin of 27.41%. The firm’s revenue was up 56.2% on a year-over-year basis. During the same period in the prior year, the firm posted $0.53 earnings per share. Equities analysts anticipate that NVIDIA Corporation will post $3.60 EPS for the current year.

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The firm also recently disclosed a quarterly dividend, which will be paid on Monday, September 18th. Stockholders of record on Thursday, August 24th will be paid a $0.14 dividend. The ex-dividend date of this dividend is Tuesday, August 22nd. This represents a $0.56 dividend on an annualized basis and a dividend yield of 0.35%. NVIDIA Corporation’s payout ratio is presently 15.86%.

In other news, Director Mark L. Perry sold 16,281 shares of NVIDIA Corporation stock in a transaction dated Monday, August 14th. The stock was sold at an average price of $162.24, for a total value of $2,641,429.44. Following the transaction, the director now directly owns 48,069 shares in the company, valued at $7,798,714.56. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Ajay K. Puri sold 81,931 shares of NVIDIA Corporation stock in a transaction dated Wednesday, May 24th. The stock was sold at an average price of $139.90, for a total value of $11,462,146.90. Following the completion of the transaction, the executive vice president now owns 564,696 shares in the company, valued at $79,000,970.40. The disclosure for this sale can be found here. Insiders sold 560,556 shares of company stock worth $85,649,706 over the last quarter. 5.82% of the stock is currently owned by corporate insiders.

Several institutional investors have recently bought and sold shares of NVDA. Evercore Wealth Management LLC raised its position in shares of NVIDIA Corporation by 36.9% in the second quarter. Evercore Wealth Management LLC now owns 765 shares of the computer hardware maker’s stock valued at $110,000 after buying an additional 206 shares in the last quarter. TB Alternative Assets Ltd. purchased a new position in shares of NVIDIA Corporation during the second quarter valued at about $116,000. Proficio Capital Partners LLC raised its position in shares of NVIDIA Corporation by 186.1% in the first quarter. Proficio Capital Partners LLC now owns 841 shares of the computer hardware maker’s stock valued at $117,000 after buying an additional 547 shares in the last quarter. Thompson Davis & CO. Inc. raised its position in shares of NVIDIA Corporation by 0.7% in the second quarter. Thompson Davis & CO. Inc. now owns 822 shares of the computer hardware maker’s stock valued at $119,000 after buying an additional 6 shares in the last quarter. Finally, Hanson McClain Inc. raised its position in shares of NVIDIA Corporation by 12.7% in the second quarter. Hanson McClain Inc. now owns 881 shares of the computer hardware maker’s stock valued at $127,000 after buying an additional 99 shares in the last quarter. Institutional investors and hedge funds own 68.55% of the company’s stock.

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.

Analyst Recommendations for NVIDIA Corporation (NASDAQ:NVDA)

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