Needham & Company LLC restated their buy rating on shares of NVIDIA Corporation (NASDAQ:NVDA) in a research note issued to investors on Friday morning. Needham & Company LLC currently has a $250.00 price objective on the computer hardware maker’s stock.
A number of other research analysts have also recently weighed in on the stock. SunTrust Banks, Inc. lifted their price target on shares of NVIDIA Corporation to $253.00 and gave the company a buy rating in a research report on Friday. Jefferies Group LLC lifted their price target on shares of NVIDIA Corporation from $230.00 to $240.00 and gave the company a buy rating in a research report on Friday. Rosenblatt Securities lifted their price target on shares of NVIDIA Corporation from $180.00 to $250.00 and gave the company a buy rating in a research report on Friday. Nomura raised shares of NVIDIA Corporation from a reduce rating to a neutral rating and lifted their price target for the company from $110.00 to $190.00 in a research report on Friday. Finally, Stifel Nicolaus lifted their price target on shares of NVIDIA Corporation from $110.00 to $184.00 and gave the company a hold rating in a research report on Friday. Four analysts have rated the stock with a sell rating, fourteen have assigned a hold rating, twenty-four have assigned a buy rating and one has given a strong buy rating to the company. The stock currently has a consensus rating of Buy and a consensus target price of $185.41.
NVIDIA Corporation (NASDAQ NVDA) traded up $1.40 on Friday, hitting $214.03. 7,443,707 shares of the company traded hands, compared to its average volume of 17,758,639. The company has a debt-to-equity ratio of 0.31, a current ratio of 8.26 and a quick ratio of 7.42. NVIDIA Corporation has a twelve month low of $83.62 and a twelve month high of $218.67. The firm has a market capitalization of $127,580.00, a PE ratio of 53.24, a PEG ratio of 5.34 and a beta of 1.23.
NVIDIA Corporation (NASDAQ:NVDA) last released its earnings results on Thursday, November 9th. The computer hardware maker reported $1.33 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.94 by $0.39. The business had revenue of $2.64 billion for the quarter, compared to analysts’ expectations of $2.36 billion. NVIDIA Corporation had a net margin of 28.78% and a return on equity of 42.71%. The company’s quarterly revenue was up 31.5% on a year-over-year basis. During the same period last year, the company earned $0.94 earnings per share. research analysts expect that NVIDIA Corporation will post 3.61 earnings per share for the current year.
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The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 15th. Stockholders of record on Friday, November 24th will be given a $0.15 dividend. This represents a $0.60 annualized dividend and a dividend yield of 0.28%. This is a boost from NVIDIA Corporation’s previous quarterly dividend of $0.14. The ex-dividend date is Wednesday, November 22nd. NVIDIA Corporation’s dividend payout ratio is currently 14.00%.
In other news, insider Jen Hsun Huang sold 110,000 shares of the stock in a transaction that occurred on Wednesday, September 6th. The stock was sold at an average price of $166.08, for a total value of $18,268,800.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, insider Michael Byron sold 409 shares of the stock in a transaction that occurred on Friday, September 1st. The shares were sold at an average price of $171.01, for a total value of $69,943.09. Following the completion of the sale, the insider now directly owns 136,199 shares of the company’s stock, valued at $23,291,390.99. The disclosure for this sale can be found here. Insiders sold 436,503 shares of company stock valued at $78,796,295 over the last three months. 5.17% of the stock is owned by company insiders.
Several institutional investors and hedge funds have recently bought and sold shares of NVDA. Cibc World Markets Corp raised its stake in shares of NVIDIA Corporation by 12.1% in the second quarter. Cibc World Markets Corp now owns 128,316 shares of the computer hardware maker’s stock valued at $18,549,000 after purchasing an additional 13,802 shares in the last quarter. Meiji Yasuda Life Insurance Co raised its stake in shares of NVIDIA Corporation by 9.9% in the second quarter. Meiji Yasuda Life Insurance Co now owns 11,070 shares of the computer hardware maker’s stock valued at $1,600,000 after purchasing an additional 1,000 shares in the last quarter. RB Capital Management LLC acquired a new position in shares of NVIDIA Corporation in the second quarter valued at $272,000. Oppenheimer Asset Management Inc. raised its stake in shares of NVIDIA Corporation by 17.8% in the second quarter. Oppenheimer Asset Management Inc. now owns 18,786 shares of the computer hardware maker’s stock valued at $2,715,000 after purchasing an additional 2,836 shares in the last quarter. Finally, D. Scott Neal Inc. acquired a new position in shares of NVIDIA Corporation in the second quarter valued at $258,000. 65.40% of the stock is owned by institutional investors.
NVIDIA Corporation Company Profile
Nvidia Corporation focuses on personal computer (PC) graphics, graphics processing unit (GPU) and also on artificial intelligence (AI). The Company’s operates through two segments: GPU and Tegra Processor. The Company’s GPU product brands are aimed at specialized markets, including GeForce for gamers; Quadro for designers; Tesla and DGX for AI data scientists and big data researchers; and GRID for cloud-based visual computing users.
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