MKM Partners Boosts Nvidia Corp. (NVDA) Price Target to $74.00
Nvidia Corp. (NASDAQ:NVDA) had its price objective hoisted by MKM Partners from $70.00 to $74.00 in a report released on Thursday morning. The firm currently has a buy rating on the computer hardware maker’s stock.
Other research analysts have also issued research reports about the stock. Jefferies Group reiterated a buy rating and set a $45.00 price objective on shares of Nvidia Corp. in a research note on Sunday, May 22nd. B. Riley restated a buy rating and set a $45.00 target price on shares of Nvidia Corp. in a report on Thursday, May 19th. Goldman Sachs Group Inc. began coverage on shares of Nvidia Corp. in a report on Thursday, June 2nd. They set a buy rating and a $54.00 target price for the company. Canaccord Genuity restated a buy rating and set a $55.00 target price (up from $45.00) on shares of Nvidia Corp. in a report on Thursday, June 16th. Finally, Nomura upgraded shares of Nvidia Corp. from a neutral rating to a buy rating and raised their target price for the stock from $35.00 to $55.00 in a report on Monday, June 13th. Two equities research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and twenty have issued a buy rating to the company. Nvidia Corp. has an average rating of Buy and a consensus price target of $57.20.
Shares of Nvidia Corp. (NASDAQ:NVDA) opened at 63.09 on Thursday. Nvidia Corp. has a 12-month low of $22.50 and a 12-month high of $65.26. The stock’s 50 day moving average price is $61.14 and its 200-day moving average price is $47.06. The firm has a market capitalization of $33.75 billion, a P/E ratio of 41.45 and a beta of 1.26.
Nvidia Corp. (NASDAQ:NVDA) last posted its quarterly earnings data on Thursday, August 11th. The computer hardware maker reported $0.53 EPS for the quarter, beating the Zacks’ consensus estimate of $0.37 by $0.16. Nvidia Corp. had a net margin of 16.58% and a return on equity of 20.86%. The business had revenue of $1.43 billion for the quarter, compared to analyst estimates of $1.35 billion. During the same quarter last year, the business earned $0.34 earnings per share. The business’s revenue for the quarter was up 23.9% on a year-over-year basis. On average, equities analysts expect that Nvidia Corp. will post $1.85 EPS for the current year.
The firm also recently declared a quarterly dividend, which was paid on Friday, September 16th. Stockholders of record on Thursday, August 25th were issued a dividend of $0.115 per share. The ex-dividend date of this dividend was Tuesday, August 23rd. This represents a $0.46 dividend on an annualized basis and a dividend yield of 0.73%. Nvidia Corp.’s dividend payout ratio is currently 30.26%.
In other news, insider Jen Hsun Huang sold 43,727 shares of the firm’s stock in a transaction on Tuesday, September 6th. The shares were sold at an average price of $62.81, for a total transaction of $2,746,492.87. Following the transaction, the insider now owns 1,827,279 shares in the company, valued at approximately $114,771,393.99. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director A Brooke Seawell sold 30,000 shares of the firm’s stock in a transaction on Friday, September 16th. The shares were sold at an average price of $62.52, for a total transaction of $1,875,600.00. Following the transaction, the director now owns 6,213 shares in the company, valued at approximately $388,436.76. The disclosure for this sale can be found here. Insiders own 5.82% of the company’s stock.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Brick & Kyle Associates increased its position in Nvidia Corp. by 25.1% in the second quarter. Brick & Kyle Associates now owns 2,502 shares of the computer hardware maker’s stock worth $118,000 after buying an additional 502 shares in the last quarter. Compagnie Lombard Odier SCmA increased its position in Nvidia Corp. by 72.6% in the second quarter. Compagnie Lombard Odier SCmA now owns 3,365 shares of the computer hardware maker’s stock worth $159,000 after buying an additional 1,415 shares in the last quarter. Aviance Capital Management LLC acquired a new position in Nvidia Corp. during the second quarter worth $200,000. Stratos Wealth Partners LTD. acquired a new position in Nvidia Corp. during the second quarter worth $201,000. Finally, Broderick Brian C acquired a new position in Nvidia Corp. during the second quarter worth $209,000. Institutional investors and hedge funds own 86.69% of the company’s stock.
Nvidia Corp. Company Profile
NVIDIA Corporation (NVIDIA) is engaged in visual computing. The Company operates through segments, including GPU and Tegra Processor. Its GPU businesses include GeForce for personal computer (PC) gaming; Quadro for design professionals working in computer-aided design, video editing, special effects and other creative applications; Tesla for deep learning and accelerated computing, leveraging the parallel computing capabilities of graphics processing units (GPUs) for general purpose computing, and GRID to provide the power of NVIDIA graphics through the cloud and datacenters.
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