Nvidia Corp. (NVDA) Rating Lowered to Buy at Vetr Inc.
Nvidia Corp. (NASDAQ:NVDA) was downgraded by equities research analysts at Vetr from a “strong-buy” rating to a “buy” rating in a research report issued on Thursday. They presently have a $68.19 price objective on the computer hardware maker’s stock. Vetr‘s target price indicates a potential upside of 8.51% from the company’s previous close.
Other equities analysts have also issued research reports about the company. Zacks Investment Research raised Nvidia Corp. from a “hold” rating to a “buy” rating and set a $51.00 price objective for the company in a research report on Tuesday, June 28th. B. Riley reaffirmed a “buy” rating and issued a $58.00 price target on shares of Nvidia Corp. in a research report on Wednesday, June 22nd. MKM Partners reaffirmed a “buy” rating and issued a $52.00 price target (up previously from $43.00) on shares of Nvidia Corp. in a research report on Monday, June 13th. Nomura raised Nvidia Corp. from a “neutral” rating to a “buy” rating and lifted their price target for the stock from $35.00 to $55.00 in a research report on Monday, June 13th. Finally, Jefferies Group raised Nvidia Corp. to a “buy” rating and lifted their price target for the stock from $3.50 to $56.00 in a research report on Monday, June 13th. Two investment analysts have rated the stock with a sell rating, twelve have assigned a hold rating and twenty have issued a buy rating to the stock. Nvidia Corp. currently has a consensus rating of “Buy” and a consensus price target of $55.75.
Shares of Nvidia Corp. (NASDAQ:NVDA) opened at 62.84 on Thursday. The stock has a market capitalization of $33.62 billion, a P/E ratio of 41.29 and a beta of 1.26. Nvidia Corp. has a 12-month low of $22.50 and a 12-month high of $63.50. The firm’s 50-day moving average is $60.29 and its 200 day moving average is $45.97.
Nvidia Corp. (NASDAQ:NVDA) last announced its quarterly earnings data on Thursday, August 11th. The computer hardware maker reported $0.53 EPS for the quarter, beating the consensus estimate of $0.37 by $0.16. The business 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 last year, the firm posted $0.34 earnings per share. On average, equities research analysts forecast that Nvidia Corp. will post $1.85 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Friday, September 16th. Stockholders of record on Thursday, August 25th were given a dividend of $0.115 per share. This represents a $0.46 dividend on an annualized basis and a dividend yield of 0.73%. The ex-dividend date of this dividend was Tuesday, August 23rd. Nvidia Corp.’s payout ratio is 30.26%.
In other news, insider Michael Byron sold 409 shares of the stock in a transaction on Thursday, September 1st. The stock was sold at an average price of $63.35, for a total transaction of $25,910.15. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, insider Jen Hsun Huang sold 43,727 shares of the 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 transaction, the insider now directly owns 1,827,279 shares in the company, valued at approximately $114,771,393.99. The disclosure for this sale can be found here. Insiders own 5.82% of the company’s stock.
Several institutional investors have recently bought and sold shares of the company. 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 during 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 during the last quarter. Aviance Capital Management LLC purchased a new position in Nvidia Corp. during the second quarter worth about $200,000. Stratos Wealth Partners LTD. purchased a new position in Nvidia Corp. during the second quarter worth about $201,000. Finally, Broderick Brian C purchased a new position in Nvidia Corp. during the second quarter worth about $209,000. 86.69% of the stock is currently owned by institutional investors and hedge funds.
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.
To view Vetr’s full report, visit Vetr’s official website.
Receive News & Ratings for Nvidia Corp. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Nvidia Corp. and related companies with Analyst Ratings Network's FREE daily email newsletter.