SunTrust Banks Reaffirms Buy Rating for NVIDIA (NVDA)

SunTrust Banks reiterated their buy rating on shares of NVIDIA (NASDAQ:NVDA) in a report issued on Friday morning, Marketbeat.com reports. The firm currently has a $305.00 target price on the computer hardware maker’s stock, up from their prior target price of $253.00.

A number of other analysts have also recently weighed in on the company. Raymond James Financial upped their price target on NVIDIA and gave the company an outperform rating in a research report on Friday, November 10th. Bank of America set a $210.00 price target on NVIDIA and gave the company a buy rating in a research report on Thursday, October 12th. Royal Bank of Canada upped their price target on NVIDIA from $230.00 to $240.00 and gave the company an outperform rating in a research report on Friday, November 10th. Mizuho reiterated a buy rating and issued a $225.00 price target on shares of NVIDIA in a research report on Tuesday, November 28th. Finally, Vetr upgraded NVIDIA from a buy rating to a strong-buy rating and set a $218.94 price target on the stock in a research report on Monday, January 1st. Four equities research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating, twenty-four have given a buy rating and one has given a strong buy rating to the company’s stock. The company has a consensus rating of Buy and a consensus target price of $210.67.

Shares of NVIDIA (NASDAQ NVDA) traded up $14.56 during trading hours on Friday, reaching $232.08. The company’s stock had a trading volume of 41,870,000 shares, compared to its average volume of 14,810,000. NVIDIA has a 52-week low of $95.17 and a 52-week high of $249.27. The company has a market capitalization of $150,050.00, a PE ratio of 48.05, a price-to-earnings-growth ratio of 4.53 and a beta of 1.43. The company has a quick ratio of 7.42, a current ratio of 8.26 and a debt-to-equity ratio of 0.31.

NVIDIA (NASDAQ:NVDA) last announced its quarterly earnings results on Thursday, February 8th. The computer hardware maker reported $1.72 earnings per share for the quarter, beating analysts’ consensus estimates of $1.16 by $0.56. NVIDIA had a return on equity of 47.44% and a net margin of 31.36%. The firm had revenue of $2.91 billion for the quarter, compared to analysts’ expectations of $2.67 billion. During the same period in the prior year, the business posted $1.13 earnings per share. The business’s revenue was up 34.0% compared to the same quarter last year. equities research analysts forecast that NVIDIA will post 4.68 earnings per share for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Friday, March 16th. Stockholders of record on Friday, February 23rd will be paid a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a dividend yield of 0.26%. The ex-dividend date is Thursday, February 22nd. NVIDIA’s dividend payout ratio (DPR) is presently 12.42%.

In other news, Director A Brooke Seawell sold 1,029 shares of the company’s stock in a transaction on Monday, November 20th. The stock was sold at an average price of $214.10, for a total transaction of $220,308.90. Following the transaction, the director now owns 1,029 shares of the company’s stock, valued at $220,308.90. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Dawn E. Hudson sold 15,000 shares of the stock in a transaction dated Monday, November 13th. The shares were sold at an average price of $213.44, for a total value of $3,201,600.00. Following the completion of the transaction, the director now directly owns 46,868 shares in the company, valued at approximately $10,003,505.92. The disclosure for this sale can be found here. Insiders have sold 19,858 shares of company stock worth $4,227,384 in the last ninety days. 5.82% of the stock is currently owned by insiders.

A number of large investors have recently added to or reduced their stakes in the business. Legal & General Group Plc lifted its stake in NVIDIA by 2.8% in the third quarter. Legal & General Group Plc now owns 2,867,090 shares of the computer hardware maker’s stock valued at $512,549,000 after buying an additional 78,943 shares during the period. UBS Asset Management Americas Inc. lifted its stake in NVIDIA by 2.0% in the fourth quarter. UBS Asset Management Americas Inc. now owns 2,265,682 shares of the computer hardware maker’s stock valued at $438,409,000 after buying an additional 45,162 shares during the period. Swiss National Bank lifted its stake in NVIDIA by 0.9% in the fourth quarter. Swiss National Bank now owns 2,213,385 shares of the computer hardware maker’s stock valued at $428,290,000 after buying an additional 19,900 shares during the period. Schwab Charles Investment Management Inc. lifted its stake in NVIDIA by 4.9% in the fourth quarter. Schwab Charles Investment Management Inc. now owns 2,027,499 shares of the computer hardware maker’s stock valued at $392,322,000 after buying an additional 95,004 shares during the period. Finally, Sumitomo Mitsui Trust Holdings Inc. lifted its stake in NVIDIA by 12.0% in the third quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 1,970,888 shares of the computer hardware maker’s stock valued at $352,336,000 after buying an additional 211,411 shares during the period. 62.84% of the stock is currently owned by hedge funds and other institutional investors.

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NVIDIA 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 (NASDAQ:NVDA)

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