Nvidia Corp. (NVDA) Given Outperform Rating at RBC Capital Markets
RBC Capital Markets restated their outperform rating on shares of Nvidia Corp. (NASDAQ:NVDA) in a research note released on Wednesday morning. RBC Capital Markets currently has a $72.00 price objective on the computer hardware maker’s stock.
Other equities research analysts have also issued reports about the stock. Canaccord Genuity restated a buy rating and issued a $55.00 price objective (up from $45.00) on shares of Nvidia Corp. in a report on Thursday, June 16th. Jefferies Group restated a buy rating and issued a $45.00 price objective on shares of Nvidia Corp. in a report on Sunday, May 22nd. B. Riley restated a buy rating and issued a $45.00 price objective on shares of Nvidia Corp. in a report on Thursday, May 19th. Bank of America Corp. restated a buy rating and issued a $50.00 price objective (up from $43.00) on shares of Nvidia Corp. in a report on Tuesday, May 17th. Finally, Goldman Sachs Group Inc. initiated coverage on shares of Nvidia Corp. in a report on Thursday, June 2nd. They issued a buy rating and a $54.00 price objective for the company. Two analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and twenty have assigned a buy rating to the stock. The company has an average rating of Buy and a consensus price target of $55.86.
Shares of Nvidia Corp. (NASDAQ:NVDA) opened at 63.67 on Wednesday. The firm has a 50-day moving average of $60.96 and a 200-day moving average of $46.84. Nvidia Corp. has a 12-month low of $22.50 and a 12-month high of $65.26. The firm has a market capitalization of $34.06 billion, a PE ratio of 41.83 and a beta of 1.26.
Nvidia Corp. (NASDAQ:NVDA) last announced its quarterly earnings data on Thursday, August 11th. The computer hardware maker reported $0.53 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.37 by $0.16. The firm earned $1.43 billion during the quarter, compared to analyst estimates of $1.35 billion. Nvidia Corp. had a net margin of 16.58% and a return on equity of 20.86%. The business’s quarterly revenue was up 23.9% on a year-over-year basis. During the same period in the previous year, the business posted $0.34 EPS. Equities analysts anticipate that Nvidia Corp. will post $1.85 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which was paid on Friday, September 16th. Investors of record on Thursday, August 25th were issued a $0.115 dividend. This represents a $0.46 dividend on an annualized basis and a dividend yield of 0.72%. The ex-dividend date was Tuesday, August 23rd. Nvidia Corp.’s dividend payout ratio (DPR) is presently 30.26%.
In related news, insider Michael Byron sold 409 shares of the firm’s stock in a transaction on Thursday, September 1st. The stock was sold at an average price of $63.35, for a total value of $25,910.15. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Jen Hsun Huang sold 43,727 shares of the firm’s stock in a transaction on Tuesday, September 6th. The stock was sold at an average price of $62.81, for a total value of $2,746,492.87. Following the completion of the sale, the insider now owns 1,827,279 shares of the company’s stock, valued at $114,771,393.99. The disclosure for this sale can be found here. 5.82% of the stock is currently owned by corporate insiders.
Hedge funds have recently modified their holdings of the company. Brick & Kyle Associates increased its stake in shares of 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 stake in shares of 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 bought a new stake in shares of Nvidia Corp. during the second quarter worth about $200,000. Stratos Wealth Partners LTD. bought a new stake in shares of Nvidia Corp. during the second quarter worth about $201,000. Finally, Broderick Brian C bought a new stake in shares of Nvidia Corp. during the second quarter worth about $209,000. Institutional investors 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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