NVIDIA Corporation (NVDA) Price Target Raised to $130.00 at RBC Capital Markets
NVIDIA Corporation (NASDAQ:NVDA) had its target price increased by RBC Capital Markets from $124.00 to $130.00 in a research report sent to investors on Friday morning. They currently have an outperform rating on the computer hardware maker’s stock.
Other equities analysts have also issued research reports about the stock. B. Riley reiterated a buy rating and set a $100.00 price objective on shares of NVIDIA Corporation in a research report on Thursday, November 17th. Needham & Company LLC reiterated a buy rating and set a $120.00 price objective (up previously from $110.00) on shares of NVIDIA Corporation in a research report on Friday, January 6th. Loop Capital reiterated a buy rating on shares of NVIDIA Corporation in a research report on Saturday, January 7th. BMO Capital Markets reiterated a market perform rating and set a $75.00 price objective (up previously from $59.00) on shares of NVIDIA Corporation in a research report on Friday, December 2nd. Finally, KeyCorp reiterated an equal weight rating on shares of NVIDIA Corporation in a research report on Tuesday, January 10th. Two analysts have rated the stock with a sell rating, fifteen have issued a hold rating, twenty have given a buy rating and four have assigned a strong buy rating to the company’s stock. The stock currently has a consensus rating of Buy and a consensus target price of $98.90.
Shares of NVIDIA Corporation (NASDAQ:NVDA) traded down 1.61% during midday trading on Friday, hitting $107.25. 16,179,386 shares of the stock were exchanged. NVIDIA Corporation has a 12 month low of $29.65 and a 12 month high of $120.92. The stock has a market cap of $59.31 billion, a P/E ratio of 41.73 and a beta of 1.31. The firm has a 50 day moving average of $108.57 and a 200-day moving average of $82.48.
NVIDIA Corporation (NASDAQ:NVDA) last issued its earnings results on Thursday, February 9th. The computer hardware maker reported $1.13 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.83 by $0.30. NVIDIA Corporation had a net margin of 23.82% and a return on equity of 34.13%. The firm earned $2.17 billion during the quarter, compared to analyst estimates of $2.10 billion. During the same quarter in the prior year, the business earned $0.35 earnings per share. NVIDIA Corporation’s revenue for the quarter was up 54.9% on a year-over-year basis. Equities research analysts anticipate that NVIDIA Corporation will post $2.77 EPS for the current year.
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The company also recently declared a quarterly dividend, which will be paid on Friday, March 17th. Stockholders of record on Friday, February 24th will be issued a $0.14 dividend. This represents a $0.56 dividend on an annualized basis and a dividend yield of 0.52%. The ex-dividend date of this dividend is Wednesday, February 22nd. NVIDIA Corporation’s dividend payout ratio is currently 21.96%.
In related news, Director Tench Coxe sold 50,000 shares of NVIDIA Corporation stock in a transaction that occurred on Tuesday, December 27th. The shares were sold at an average price of $116.70, for a total value of $5,835,000.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director William J. Miller sold 10,000 shares of NVIDIA Corporation stock in a transaction that occurred on Thursday, December 15th. The stock was sold at an average price of $98.74, for a total transaction of $987,400.00. Following the completion of the sale, the director now owns 40,912 shares of the company’s stock, valued at $4,039,650.88. The disclosure for this sale can be found here. Insiders sold a total of 162,597 shares of company stock worth $17,895,685 over the last 90 days. Company insiders own 5.82% of the company’s stock.
A number of hedge funds have recently added to or reduced their stakes in the company. West Oak Capital LLC boosted its stake in NVIDIA Corporation by 183.6% in the third quarter. West Oak Capital LLC now owns 1,560 shares of the computer hardware maker’s stock worth $107,000 after buying an additional 1,010 shares during the period. Brick & Kyle Associates boosted its stake in NVIDIA Corporation 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 period. Cornerstone Advisors Inc. boosted its stake in NVIDIA Corporation by 52.2% in the third quarter. Cornerstone Advisors Inc. now owns 1,784 shares of the computer hardware maker’s stock worth $122,000 after buying an additional 612 shares during the period. Stephens Inc. AR boosted its stake in NVIDIA Corporation by 10.2% in the third quarter. Stephens Inc. AR now owns 1,926 shares of the computer hardware maker’s stock worth $132,000 after buying an additional 179 shares during the period. Finally, Mascoma Wealth Management LLC bought a new stake in NVIDIA Corporation during the fourth quarter worth approximately $154,000. Institutional investors own 85.00% of the company’s stock.
NVIDIA Corporation 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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