Nvidia Corp. (NVDA) Given Outperform Rating at RBC Capital Markets
RBC Capital Markets reaffirmed their outperform rating on shares of Nvidia Corp. (NASDAQ:NVDA) in a report published on Wednesday morning. They currently have a $72.00 price objective on the computer hardware maker’s stock.
A number of other analysts have also issued reports on NVDA. B. Riley restated a buy rating and issued a $58.00 target price on shares of Nvidia Corp. in a report on Monday, July 11th. Jefferies Group reiterated a buy rating and set a $45.00 price objective on shares of Nvidia Corp. in a report on Sunday, May 22nd. Two investment analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and twenty have given a buy rating to the company’s stock. Nvidia Corp. presently has a consensus rating of Buy and an average target price of $55.86.
Nvidia Corp. (NASDAQ:NVDA) opened at 63.67 on Wednesday. The firm has a market cap of $34.06 billion, a PE ratio of 41.83 and a beta of 1.26. The company has a 50 day moving average price of $60.96 and a 200 day moving average price of $46.84. Nvidia Corp. has a 1-year low of $22.50 and a 1-year high of $65.26.
Nvidia Corp. (NASDAQ:NVDA) last released its earnings results on Thursday, August 11th. The computer hardware maker reported $0.53 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.37 by $0.16. The company earned $1.43 billion during the quarter, compared to analyst estimates of $1.35 billion. Nvidia Corp. had a return on equity of 20.86% and a net margin of 16.58%. The company’s revenue for the quarter was up 23.9% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.34 earnings per share. On average, equities research analysts forecast that Nvidia Corp. will post $1.85 earnings per share for the current year.
The business also recently declared a quarterly dividend, which was paid on Friday, September 16th. Shareholders of record on Thursday, August 25th were issued a $0.115 dividend. This represents a $0.46 dividend on an annualized basis and a yield of 0.72%. The ex-dividend date was Tuesday, August 23rd. Nvidia Corp.’s payout ratio is 30.26%.
In other Nvidia Corp. news, insider Michael Byron sold 409 shares of the firm’s stock in a transaction on Thursday, September 1st. The shares were sold at an average price of $63.35, for a total value of $25,910.15. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Debora Shoquist sold 35,476 shares of the firm’s stock in a transaction on Monday, August 15th. The stock was sold at an average price of $63.06, for a total transaction of $2,237,116.56. Following the completion of the sale, the executive vice president now owns 352,188 shares of the company’s stock, valued at $22,208,975.28. The disclosure for this sale can be found here. 5.82% of the stock is currently owned by company insiders.
Large investors have recently bought and sold shares of the company. Natixis boosted its stake in Nvidia Corp. by 91.1% in the first quarter. Natixis now owns 1,754,727 shares of the computer hardware maker’s stock worth $62,521,000 after buying an additional 836,276 shares during the last quarter. Legal & General Group Plc boosted its stake in Nvidia Corp. by 5.1% in the first quarter. Legal & General Group Plc now owns 2,243,547 shares of the computer hardware maker’s stock worth $79,938,000 after buying an additional 107,884 shares during the last quarter. Clark Capital Management Group Inc. bought a new stake in Nvidia Corp. during the first quarter worth approximately $7,723,000. CIBC Asset Management Inc boosted its stake in Nvidia Corp. by 0.9% in the second quarter. CIBC Asset Management Inc now owns 70,283 shares of the computer hardware maker’s stock worth $3,304,000 after buying an additional 600 shares during the last quarter. Finally, Nordea Investment Management AB boosted its stake in Nvidia Corp. by 114.1% in the second quarter. Nordea Investment Management AB now owns 33,823 shares of the computer hardware maker’s stock worth $1,590,000 after buying an additional 18,023 shares during the last quarter. Institutional investors and hedge funds own 86.69% of the company’s stock.
About Nvidia Corp.
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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